Othello, Washington Property Taxes
The median property tax rate in Othello, WA is 0.61%, considerably lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Othello being $115,400, the typical annual property tax bill reaches $864, well below the national median of $2,690. Property taxes in Othello 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 Othello'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 Othello 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
Othello, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$704
$653
Ownwell’s Othello Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Othello with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Othello 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 Othello, Washington
Property taxes in Othello, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Othello is 0.61%, which is lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Othello set these rates annually, and they can vary significantly across different neighborhoods. Each year, Othello 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 Othello's effective property tax rate to other counties in Washington and the national median. For comparison, the 99344 zip code has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Othello 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 Othello Tax Rate
0.61%
Average Franklin County Tax Rate
0.71%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Othello, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99344 | 0.52% | 0.52% | 0.61% | 0.71% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Othello, Washington
In Othello, 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 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 Othello, 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 Othello helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $115,400, with the lowest and highest median tax bills both being $864 in the 99344 zip code.
Average Othello Assessed Value
$115,400
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 Othello, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99344 | $10,120 | $32,500 | $115,400 | $434,000 | $566,840 |
Source: Ownwell
Property Tax Bills Across Othello, Washington
In Othello, located in Franklin County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The tax rate is then applied to this assessed value to generate the annual tax bill. Several factors influence the assessed value, including the property's size, location, and market conditions. For homeowners in Othello, the median home price is $115,400. Property tax bills can vary significantly, with the 25th percentile at $181 and the 75th percentile reaching $2,950. The 90th percentile tax bill can be as high as $4,116. Comparatively, the highest and lowest median tax bills in the area are both $864, indicating a relatively uniform tax rate across different properties. These property taxes contribute to local services, such as schools, infrastructure, and emergency services, impacting homeowners by influencing their annual financial planning and the overall affordability of homeownership in the region.
Average Othello Tax Bill
$864
Average Franklin County Tax Bill
$2,758
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Othello, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99344 | $57 | $181 | $864 | $2,950 | $4,116 |
Source: Ownwell