Richland, Benton County, Washington Property Taxes
The median property tax rate in Richland, WA is 1.00%, slightly higher than the national median of 0.99% and notably above the Washington state median of 0.88%. With the median home value in Richland at $319,010, the typical annual property tax bill reaches $3,117, surpassing the national median of $2,690. Property taxes in Richland are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Richland'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 Richland 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
Richland, Benton County, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$3,190
$2,960
Ownwell’s Richland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Richland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Richland 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 Richland, Benton County, Washington
Property taxes in Richland, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Richland is 1.00%, slightly above the U.S. national median of 0.99%. Local government entities within Richland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Richland 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 Richland's effective property tax rate to other areas in Benton County and the national median. For comparison, the 99353 zip code has the highest median property tax rate of 1.17%, while the 99352 zip code has the lowest median tax rate of 1.00%. Understanding how these areas compare with Richland 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 Richland Tax Rate
1.00%
Average Benton County Tax Rate
0.98%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Richland, Benton County, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99338 | N/A | N/A | N/A | N/A | N/A |
| 99352 | 0.98% | 0.99% | 1.00% | 1.00% | 1.01% |
| 99353 | 1.11% | 1.14% | 1.17% | 1.18% | 1.22% |
| 99354 | 0.99% | 1.00% | 1.00% | 1.00% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Richland, Benton County, Washington
In Richland, 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 Richland, 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 Richland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $10,184 in the 99338 zip code, while the lowest is $2,922 in the 99354 zip code.
Property Tax Assessment Values Across Richland, Benton County, Washington
Source: Ownwell
$66,485
$364,868
$663,250
Average Richland Assessed Value
$319,010
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 Richland, Benton County, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99338 | N/A | N/A | N/A | N/A | N/A |
| 99352 | $153,190 | $250,625 | $338,785 | $450,852 | $570,539 |
| 99353 | $121,726 | $336,460 | $663,250 | $747,040 | $929,588 |
| 99354 | $156,032 | $238,605 | $294,130 | $371,350 | $445,216 |
Source: Ownwell
Property Tax Bills Across Richland, Benton County, Washington
In Richland, located in Benton County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Various factors influence the tax bill, including the property's location, size, and any applicable exemptions or deductions. For homeowners in Richland, the median home price is $319,010. The tax bill can vary significantly, with the 25th percentile at $2,368 and the 75th percentile at $4,120, indicating a range of possible tax payments. The highest median tax bill in the area reaches up to $10,184, especially in zip code 99338, while the lowest median tax bill is $2,922 in zip code 99354. These tax bills directly impact homeowners' annual expenses, making it essential to understand how they are calculated and managed. Compared to the national median property tax rate of 0.99%, Richland's rates reflect the unique economic and property value conditions of the region.
Average Richland Tax Bill
$3,117
Average Benton County Tax Bill
$2,407
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Richland, Benton County, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99338 | N/A | N/A | N/A | N/A | N/A |
| 99352 | $1,075 | $2,383 | $3,278 | $4,412 | $5,604 |
| 99353 | $1,425 | $3,756 | $7,931 | $8,632 | $10,786 |
| 99354 | $996 | $2,353 | $2,922 | $3,693 | $4,429 |
Source: Ownwell