Cosmopolis, Washington Property Taxes
The median property tax rate in Cosmopolis, WA is 1.25%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Cosmopolis, the typical annual property tax bill reaches $2,437, slightly below the national median of $2,690. Property taxes in Cosmopolis 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 Cosmopolis'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 Cosmopolis 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
Cosmopolis, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$2,604
$2,416
Ownwell’s Cosmopolis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cosmopolis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cosmopolis 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 Cosmopolis, Washington
Property taxes in Cosmopolis, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cosmopolis is 1.25%, significantly higher than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Cosmopolis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cosmopolis 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 Cosmopolis's effective property tax rate to other counties in Washington and the national median. For comparison, the 98537 zip code has the highest median property tax rate of 1.25%, while the same zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Cosmopolis provides valuable insights into the varying tax landscape across Grays Harbor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cosmopolis Tax Rate
1.25%
Average Grays Harbor County Tax Rate
1.12%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cosmopolis, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98537 | 0.85% | 1.06% | 1.25% | 1.41% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Cosmopolis, Washington
In Cosmopolis, 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 Grays Harbor 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 Cosmopolis, 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 Cosmopolis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,437, found in the 98537 zip code.
Average Cosmopolis Assessed Value
$208,286
Average Grays Harbor County Assessed Value
$186,974
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cosmopolis, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98537 | $86,538 | $141,829 | $208,286 | $270,795 | $327,183 |
Source: Ownwell
Property Tax Bills Across Cosmopolis, Washington
In Cosmopolis, 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, and this rate varies, but it is crucial in determining your tax bill. For homeowners in Cosmopolis, the median home price is $208,286, and property tax bills can vary significantly. Factors such as property location, size, and improvements can influence the assessed value. In Grays Harbor County, where Cosmopolis is located, the property tax rate is applied to the assessed value to calculate the annual tax bill. The tax bill for the 25th percentile is approximately $1,613, while the 75th percentile sees bills around $3,393. For those at the 90th percentile, tax bills can reach up to $4,196. These tax bills directly impact homeowners, influencing their monthly budgets and overall financial planning. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners to understand their local rates and how they compare.
Average Cosmopolis Tax Bill
$2,437
Average Grays Harbor County Tax Bill
$1,990
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Cosmopolis, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98537 | $692 | $1,613 | $2,437 | $3,393 | $4,196 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | July 1 |
| Tax Bill | |
| Issued | February 10 |
| Due Date #1 | April 30 |
| Due Date #2 | October 31 |
Links | |
|---|---|
| Grays Harbor Tax Assessor | |
| Website | graysharborwa-taxsifter.publicaccessnow.com |