Auburn, Washington Property Taxes
The median property tax rate in Auburn, WA is 0.70%, considerably lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Auburn, the typical annual property tax bill reaches $1,304, significantly less than the national median of $2,690. Property taxes in Auburn 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 Auburn'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 Auburn 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
Auburn, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$1,312
$1,218
Ownwell’s Auburn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Auburn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Auburn 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 Auburn, Washington
Property taxes in Auburn, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Auburn is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Auburn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Auburn 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 Auburn's effective property tax rate to other counties in Washington and the national median. For comparison, the 98002 zip code has both the highest and lowest median property tax rate of 0.70%. Understanding how these cities compare with Auburn provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Auburn Tax Rate
0.70%
Average Franklin County Tax Rate
0.71%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Auburn, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98002 | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Auburn, Washington
In Auburn, 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 Franklin 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. 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 Auburn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Auburn, the median home price is $187,500. The highest and lowest median tax bills are both $1,304, with the zip code 98002 having this value.
Average Auburn Assessed Value
$187,500
Average Franklin County Assessed Value
$384,600
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Auburn, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98002 | $187,500 | $187,500 | $187,500 | $187,500 | $187,500 |
Source: Ownwell
Property Tax Bills Across Auburn, Washington
In Auburn, WA, within Franklin County, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Auburn can expect to pay a median tax bill of $1,304, which is consistent across various percentiles, indicating a uniform tax rate within the area. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. The local tax rate is applied to the assessed value to calculate the total tax bill. For comparison, the national median property tax rate is 0.99%, which means Auburn homeowners may experience a relatively moderate tax burden. This tax bill directly impacts homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding how these factors interplay helps homeowners anticipate their annual tax obligations and manage their finances accordingly.
Average Auburn Tax Bill
$1,304
Average Franklin County Tax Bill
$2,758
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Auburn, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98002 | $1,304 | $1,304 | $1,304 | $1,304 | $1,304 |
Source: Ownwell