Asotin, Washington Property Taxes
The median property tax rate in Asotin, WA is 1.12%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Asotin at $168,750, the typical annual property tax bill reaches $1,794, which is still below the national median of $2,690. Property taxes in Asotin are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Asotin's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Asotin or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Asotin, Washington Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,760
Ownwell’s Asotin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Asotin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Asotin to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Asotin, Washington
Property taxes in Asotin, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Asotin is 1.12%, significantly higher than the U.S. national median of 0.99%. Local government entities within Asotin set these rates annually, and they can vary across different neighborhoods. Each year, Asotin estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Asotin's effective property tax rate to other counties in Washington and the national median. For comparison, the 99402 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Asotin provides valuable insights into the varying tax landscape across Asotin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Asotin Tax Rate
1.12%
Average Asotin County Tax Rate
1.10%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Asotin, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99402 | 1.00% | 1.02% | 1.12% | 1.12% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Asotin, Washington
In Asotin, Washington, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Asotin, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Asotin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 99402 has the highest and lowest median tax bill at $1,794.
Average Asotin Assessed Value
$168,750
Average Asotin County Assessed Value
$158,100
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Asotin, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99402 | $25,073 | $74,926 | $168,750 | $269,267 | $388,144 |
Source: Ownwell
Property Tax Bills Across Asotin, Washington
In Asotin, WA, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is a percentage of the property's market value. Homeowners in Asotin can expect varying property tax bills depending on their property's assessed value and the specific tax rate set by local taxing authorities. For instance, while the national median property tax rate is 0.99%, local rates can differ. Several factors influence the tax bill, including property size, location, and improvements made to the property. In Asotin, the median home price is $168,750, and property tax bills can range significantly. The 25th percentile tax bill is $722, while the 75th percentile reaches $2,972. At the 90th percentile, homeowners might see tax bills as high as $4,309. This variation affects homeowners differently, with those owning higher-valued properties facing steeper tax bills. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Asotin Tax Bill
$1,794
Average Asotin County Tax Bill
$1,692
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Asotin, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99402 | $318 | $722 | $1,794 | $2,972 | $4,309 |
Source: Ownwell