Benton City, Benton County, Washington Property Taxes
The median property tax rate in Benton City, WA is 1.03%, slightly higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Benton City at $220,650, the typical annual property tax bill reaches $2,255, which is below the national median of $2,690. Property taxes in Benton City are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Benton City'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 Benton City or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Benton City, Benton County, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$2,273
$2,109
Ownwell’s Benton City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Benton City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Benton City 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 Benton City, Benton County, Washington
Property taxes in Benton City, Washington, are essential in funding crucial services like public schools, road maintenance, and emergency services. The median tax rate in Benton City is 1.03%, higher than the U.S. national median of 0.99%. Local government entities within Benton City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Benton City 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 Benton City's effective property tax rate to other counties in Washington and the national median. For comparison, the 99320 zip code has the highest median property tax rate of 1.03%, while the same zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Benton City provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Benton City Tax Rate
1.03%
Average Benton County Tax Rate
0.98%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Benton City, Benton County, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99320 | 0.87% | 0.92% | 1.03% | 1.12% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Benton City, Benton County, Washington
In Benton City, 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 Benton County Assessor 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 Benton City, 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. For instance, the highest and lowest median tax bills in Benton City are both $2,255, found in the 99320 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Benton City, Benton County, Washington
Source: Ownwell
$66,485
$364,868
$663,250
Average Benton City Assessed Value
$220,650
Average Benton County Assessed Value
$282,560
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Benton City, Benton County, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99320 | $67,968 | $140,700 | $220,650 | $304,350 | $406,270 |
Source: Ownwell
Property Tax Bills Across Benton City, Benton County, Washington
In Benton City, WA, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor’s office. The assessed value typically reflects a percentage of the property's market value. Homeowners in Benton City face a median property tax rate of 0.99%, which aligns with the national median. Several factors influence the total tax bill, including the property's assessed value, local tax rates, and any exemptions or deductions for which the homeowner may qualify. For instance, the median home price in Benton City is $220,650. Consequently, the tax bill can vary significantly. The 25th percentile tax bill is $1,449, while the 75th percentile tax bill reaches $3,134, and the 90th percentile tax bill can be as high as $4,217. These property tax bills impact homeowners by contributing to the funding of essential local services such as schools, infrastructure, and emergency services. Understanding these elements can help homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Benton City Tax Bill
$2,255
Average Benton County Tax Bill
$2,407
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Benton City, Benton County, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99320 | $653 | $1,449 | $2,255 | $3,134 | $4,217 |
Source: Ownwell