West Richland, Washington Property Taxes
The median property tax rate in West Richland, WA is 0.53%, which is significantly lower than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $360,900 in West Richland, the typical annual property tax bill is about $1,911, falling well below the national median of $2,690. Property taxes in West Richland are calculated based on the tax assessed value, which often comes in lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding West Richland's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of West Richland or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
West Richland, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$1,913
$1,775
Ownwell’s West Richland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Richland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Richland 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 West Richland, Washington
Property taxes in West Richland, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Richland is 0.53%, which is lower than the U.S. national median of 0.99%. Local government entities within West Richland set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Richland 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 West Richland's effective property tax rate to other counties in Washington and the national median. For comparison, the 99353 zip code has the highest median property tax rate of 0.53%, while the same zip code also has the lowest median tax rate of 0.53%. Understanding how these cities compare with West Richland 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 West Richland Tax Rate
0.53%
Average Franklin County Tax Rate
0.71%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Richland, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99353 | 0.53% | 0.53% | 0.53% | 0.53% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across West Richland, Washington
In West Richland, 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 West Richland, 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 West Richland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 99353 in West Richland has both the highest and lowest median tax bills at $1,911.
Property Tax Assessment Values Across West Richland, Washington
Source: Ownwell
$79,000
$400,800
$722,600
Average West Richland Assessed Value
$360,900
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 West Richland, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99353 | $360,900 | $360,900 | $360,900 | $360,900 | $360,900 |
Source: Ownwell
Property Tax Bills Across West Richland, Washington
In West Richland, property tax bills are calculated based on the assessed value of a home, which is determined by the Franklin County Assessor's Office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in West Richland is $360,900, and the property tax bill for homes in the 25th, 75th, and 90th percentiles all stand at $1,911. This figure is consistent across various zip codes, including 99353. Several factors influence the assessed value, such as the property's market value, improvements made to the property, and comparable sales in the area. Homeowners in West Richland experience a property tax rate that is relatively lower than the national median property tax rate of 0.99%. This can be advantageous for homeowners, as it results in a lower annual tax burden compared to other regions. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances more effectively.
Average West Richland Tax Bill
$1,911
Average Franklin County Tax Bill
$2,758
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across West Richland, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99353 | $1,911 | $1,911 | $1,911 | $1,911 | $1,911 |
Source: Ownwell