Oak Harbor, Washington Property Taxes
The median property tax rate in Oak Harbor, WA is 0.73%, lower than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $454,081 in Oak Harbor, the typical annual property tax bill reaches $3,418, surpassing the national median of $2,690. Property taxes in Oak Harbor are calculated based on the assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Oak Harbor'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 Oak Harbor 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
Oak Harbor, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$3,315
$3,238
Ownwell’s Oak Harbor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oak Harbor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oak Harbor 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 Oak Harbor, Washington
Property taxes in Oak Harbor, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oak Harbor is 0.73%, lower than the U.S. national median of 0.99%. Local government entities within Oak Harbor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oak Harbor 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 Oak Harbor's effective property tax rate to other counties in Washington and the national median. For comparison, the 98277 zip code has both the highest and lowest median property tax rate of 0.73%. Understanding how these cities compare with Oak Harbor provides valuable insights into the varying tax landscape across Island County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oak Harbor Tax Rate
0.73%
Average Island County Tax Rate
0.68%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oak Harbor, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98277 | 0.63% | 0.68% | 0.73% | 0.83% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Oak Harbor, Washington
In Oak Harbor, 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 Island 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 Oak Harbor, 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 Oak Harbor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Oak Harbor is $454,081, with the median tax bill reaching $3,418 in the 98277 zip code. This is above the national median property tax rate of 0.99%, reflecting the specific economic conditions of the area.
Average Oak Harbor Assessed Value
$454,081
Average Island County Assessed Value
$541,558
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oak Harbor, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98277 | $208,283 | $363,604 | $454,081 | $553,146 | $713,790 |
Source: Ownwell
Property Tax Bills Across Oak Harbor, Washington
In Oak Harbor, located in Island County, WA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Oak Harbor see tax bills influenced by various factors, such as property size, location, and improvements. The median home price in Oak Harbor is $454,081, with tax bills ranging from $2,570 at the 25th percentile to $5,035 at the 90th percentile. The highest median tax bill in the area is $3,418, which is considerably higher than the national median property tax rate of 0.99%. These property taxes fund essential community services, including schools, public safety, and infrastructure. High property taxes can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability. However, they also contribute to maintaining and improving the quality of life in the community.
Average Oak Harbor Tax Bill
$3,418
Average Island County Tax Bill
$3,760
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Oak Harbor, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98277 | $918 | $2,570 | $3,418 | $4,146 | $5,035 |
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 | |
|---|---|
| Island Tax Assessor | |
| Website | assessor.islandcountywa.gov |