Pasco, Washington Property Taxes
The median property tax rate in Pasco, WA is 0.71%, considerably lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Pasco at $392,850, the typical annual property tax bill reaches $2,831, which is just below the national median of $2,690. Property taxes in Pasco are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Pasco'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 Pasco 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
Pasco, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$2,789
$2,588
Ownwell’s Pasco Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pasco with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pasco 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 Pasco, Washington
Property taxes in Pasco, Washington, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pasco is 0.71%, which is lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Pasco set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pasco 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 Pasco's effective property tax rate to other counties in Washington and the national median. For comparison, the 99301 zip code has both the highest and lowest median property tax rate of 0.71%. Understanding how these cities compare with Pasco 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 Pasco Tax Rate
0.71%
Average Franklin County Tax Rate
0.71%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pasco, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99301 | 0.61% | 0.68% | 0.71% | 0.75% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Pasco, Washington
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pasco, Washington. 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 Pasco, 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 Pasco helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price in Pasco is $392,850. The highest and lowest median tax bills are both $2,831 in the 99301 zip code. The 25th percentile tax bill is $2,199, the 75th percentile is $3,535, and the 90th percentile is $4,572.
Average Pasco Assessed Value
$392,850
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 Pasco, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99301 | $230,900 | $327,200 | $392,850 | $485,500 | $637,750 |
Source: Ownwell
Property Tax Bills Across Pasco, Washington
In Pasco, located in Franklin County, WA, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The assessed value is a percentage of the market value of your property. The median home price in Pasco is $392,850, and property taxes are applied to this assessed value to determine your tax bill. Several factors influence the final tax bill, including the assessed value, local tax rates, and any applicable exemptions. For instance, the tax bill for homes in the 25th percentile is around $2,199, while those in the 75th percentile can expect to pay approximately $3,535. Homeowners in the 90th percentile might see bills as high as $4,572. Comparatively, the highest and lowest median tax bills in Pasco both stand at $2,831, which is below the national median property tax rate of 0.99%. This relatively lower tax rate can significantly affect homeowners by making property ownership more affordable in Pasco compared to other regions.
Average Pasco Tax Bill
$2,831
Average Franklin County Tax Bill
$2,758
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Pasco, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99301 | $1,246 | $2,199 | $2,831 | $3,535 | $4,572 |
Source: Ownwell