Elma, Washington Property Taxes
The median property tax rate in Elma, WA is 1.11%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Elma at $243,625, the typical annual property tax bill reaches $2,746, exceeding the national median of $2,690. Property taxes in Elma 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 Elma'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 Elma 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
Elma, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,704
$2,642
Ownwell’s Elma Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Elma with just two simple data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elma to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, factoring in any applicable exemptions.
Property Tax Rates Across Elma, Washington
Property taxes in Elma, Washington, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elma is 1.11%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Elma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elma 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 Elma's effective property tax rate to other areas in Grays Harbor County and the national median. For comparison, the area with the highest median property tax rate in Grays Harbor County is also Elma, with a rate of 1.11%, while the area with the lowest median tax rate is also Elma at 1.11%. Understanding how these cities compare with Elma 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 Elma Tax Rate
1.11%
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 Elma, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98541 | 0.77% | 1.00% | 1.11% | 1.20% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Elma, Washington
In Elma, 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 Elma, 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 Elma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Elma both amount to $2,746, occurring in the 98541 zip code.
Average Elma Assessed Value
$243,625
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 Elma, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98541 | $56,500 | $161,633 | $243,625 | $347,215 | $454,167 |
Source: Ownwell
Property Tax Bills Across Elma, Washington
In Elma, Washington, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Several factors influence the final tax bill, including the property's location, improvements, and any applicable exemptions or deductions. For instance, in Grays Harbor County, where Elma is located, the median home price is $243,625. Homeowners in the 25th percentile pay around $1,514 annually, while those in the 75th percentile see bills up to $3,828. The highest 10% of tax bills can reach $4,974. These property taxes significantly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Elma's property taxes can vary widely, reflecting the diverse property values and local tax policies.
Average Elma Tax Bill
$2,746
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 Elma, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98541 | $293 | $1,514 | $2,746 | $3,828 | $4,974 |
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 |