Republic, Washington Property Taxes
The median property tax rate in Republic, WA is 0.94%, slightly below the national median of 0.99% but higher than the Washington state median of 0.88%. With the median home value in Republic at $115,800, the typical annual property tax bill amounts to $1,031, which is lower than the national median of $2,690. Property taxes in Republic are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Republic'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 Republic 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
Republic, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$1,089
$1,010
Ownwell’s Republic Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Republic with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Republic 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 Republic, Washington
Property taxes in Republic, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Republic is 0.94%, which is slightly below the U.S. national median of 0.99%. Local government entities within Republic set these rates annually, and they can vary across different neighborhoods. Each year, Republic 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 Republic's effective property tax rate to other regions and the national median. For comparison, the zip code 99166 in Ferry County has the highest and lowest median property tax rate of 0.94%. Understanding how these cities compare with Republic 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 Republic Tax Rate
0.94%
Average Ferry County Tax Rate
0.93%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Republic, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99166 | 0.92% | 0.93% | 0.94% | 0.96% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Republic, Washington
In Republic, 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. In Republic, 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. The median home price in Republic is $115,800, with the 25th percentile tax bill being $486 and the 75th percentile tax bill being $1,793. The zip code with both the highest and lowest median tax bill is 99166, with a median tax bill of $1,031. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Republic Assessed Value
$115,800
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 Republic, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99166 | $22,500 | $57,650 | $115,800 | $200,300 | $288,720 |
Source: Ownwell
Property Tax Bills Across Republic, Washington
In Republic, located in Ferry County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local property tax rate to determine the tax bill. For homeowners in Republic, the median home price is $115,800, which is relatively lower compared to the national median. The property tax rate in this region is notably lower than the national median of 0.99%, making homeownership more affordable. Tax bills can vary significantly, with the 25th percentile at $486 and the 75th percentile at $1,793, indicating a range in the tax burden depending on the property's assessed value and specific location within the area. At the 90th percentile, tax bills can reach up to $2,658. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for Republic residents. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan accordingly.
Average Republic Tax Bill
$1,031
Average Ferry County Tax Bill
$850
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Republic, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99166 | $152 | $486 | $1,031 | $1,793 | $2,658 |
Source: Ownwell