Paterson, Benton County, Washington Property Taxes
The median property tax rate in Paterson, WA is 0.73%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. Given the median home value in Paterson is $66,485, the typical annual property tax bill amounts to $443, significantly less than the national median of $2,690. Property taxes in Paterson are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Paterson's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Paterson or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paterson, Benton County, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$485
$450
Ownwell’s Paterson Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Paterson with just two data inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Paterson to provide an accurate estimate of your property tax bill. This invaluable tool helps you comprehend your potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Paterson, Benton County, Washington
Property taxes in Paterson, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paterson is 0.73%, lower than the U.S. national median of 0.99%. Local government entities within Paterson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paterson 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 Paterson's effective property tax rate to other counties in Washington and the national median. For comparison, the 99345 zip code has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Paterson 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 Paterson Tax Rate
0.73%
Average Benton County Tax Rate
0.98%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paterson, Benton County, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99345 | 0.72% | 0.72% | 0.73% | 0.74% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Paterson, Benton County, Washington
In Paterson, 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 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 Paterson, 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 Paterson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 99345 has the highest and lowest median tax bill at $443.
Property Tax Assessment Values Across Paterson, Benton County, Washington
Source: Ownwell
$66,485
$364,868
$663,250
Average Paterson Assessed Value
$66,485
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 Paterson, Benton County, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99345 | $10,687 | $32,658 | $66,485 | $138,225 | $180,868 |
Source: Ownwell
Property Tax Bills Across Paterson, Benton County, Washington
In Paterson, property tax bills are calculated based on the assessed value of a home, which is determined by the Benton County Assessor's Office. The assessed value typically reflects a percentage of the market value of the property. Homeowners in Paterson can expect their property tax bills to vary significantly depending on their home's assessed value and the specific tax rates set by local taxing authorities. The median home price in Paterson is $66,485, and the property tax rate is applied to this assessed value to determine the tax bill. For instance, homeowners at the 25th percentile can expect a tax bill around $202, while those at the 75th percentile might see a tax bill of approximately $967. The 90th percentile tax bill can go up to $1,290, highlighting the range of property tax burdens within the city. These property taxes fund essential local services such as schools, police, and infrastructure, directly impacting the quality of life for Paterson residents. Consequently, understanding how these bills are calculated can help homeowners better anticipate their annual expenses.
Average Paterson Tax Bill
$443
Average Benton County Tax Bill
$2,407
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Paterson, Benton County, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99345 | $77 | $202 | $443 | $967 | $1,290 |
Source: Ownwell