Malo, Washington Property Taxes
The median property tax rate in Malo, WA is 0.91%, slightly lower than the national median of 0.99% but higher than the Washington state median of 0.88%. With the median home value in Malo at $115,200, the typical annual property tax bill reaches $1,016, which is below the national median of $2,690. Property taxes in Malo 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 Malo'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 Malo 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
Malo, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,048
$1,024
Ownwell’s MALO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MALO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MALO 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 Malo, Washington
Property taxes in Malo, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Malo is 0.91%, which is slightly below the U.S. national median of 0.99%. Local government entities within Malo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Malo 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 Malo's effective property tax rate to other counties in Washington and the national median. For comparison, the zip code 99150 has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these areas compare with Malo provides valuable insights into the varying tax landscape across Ferry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Malo Tax Rate
0.91%
Average Ferry County Tax Rate
0.93%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Malo, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99150 | 0.81% | 0.90% | 0.91% | 0.94% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Malo, Washington
In Malo, 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 Ferry County Assessor's Office 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. Assessment notices in Malo 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 Malo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Malo both amount to $1016, corresponding to the zip code 99150.
Average Malo Assessed Value
$115,200
Average Ferry County Assessed Value
$101,200
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Malo, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99150 | $31,050 | $57,700 | $115,200 | $196,450 | $300,980 |
Source: Ownwell
Property Tax Bills Across Malo, Washington
In MALO, located in Ferry County, WA, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of your property. Once the assessed value is established, it is multiplied by the local tax rate to calculate your annual property tax bill. For homeowners in MALO, property tax bills can vary widely. The 25th percentile tax bill is $488, while the 75th percentile reaches $1,700. At the higher end, the 90th percentile tax bill is $2,663. These amounts are influenced by the value of the property and the specific tax rate applied. Compared to the national median property tax rate of 0.99%, MALO's property tax rates can have a significant impact on homeowners, particularly those with higher-valued properties. Understanding how these factors interplay is crucial for homeowners to anticipate their annual tax obligations and manage their finances accordingly.
Average Malo Tax Bill
$1,016
Average Ferry County Tax Bill
$850
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Malo, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99150 | $238 | $488 | $1,016 | $1,700 | $2,663 |
Source: Ownwell