Forks, Washington Property Taxes
The median property tax rate in Forks, WA, is 0.84%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $67,956, the typical annual property tax bill in Forks amounts to $480, significantly below the national median of $2,690. Property taxes in Forks are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence exemption. Understanding Forks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Forks or another part of Jefferson County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Forks, Washington Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,760
Ownwell’s Forks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forks 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 Forks, Washington
Property taxes in Forks, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Forks is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Forks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forks 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 Forks' effective property tax rate to other areas in Jefferson County and the national median. For comparison, the 98331 zip code has the highest median property tax rate of 0.84%, while the same 98331 zip code also has the lowest median tax rate of 0.84%. Understanding how these areas compare with Forks provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Forks Tax Rate
0.84%
Average Jefferson County Tax Rate
0.82%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Forks, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98331 | 0.73% | 0.80% | 0.84% | 0.89% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Forks, Washington
In Forks, 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 Jefferson County Appraisal District 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 Forks, 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 Forks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Forks, the highest and lowest median tax bills are both $480.00 in the 98331 zip code.
Average Forks Assessed Value
$67,956
Average Jefferson County Assessed Value
$406,419
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Forks, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98331 | $18,153 | $30,689 | $67,956 | $125,931 | $252,629 |
Source: Ownwell
Property Tax Bills Across Forks, Washington
In Forks, property tax bills are calculated based on the assessed value of a home, which is determined by the Jefferson County Assessor's Office. 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 tax bill. This tax rate is influenced by various factors, including local government budgets, public services, and school funding requirements. For homeowners in Forks, the median home price is $67,956. The tax bills show significant variation: the 25th percentile tax bill is $261, while the 75th percentile tax bill is $992. At the 90th percentile, homeowners might see tax bills as high as $2,088. The highest and lowest median tax bills in Forks are both $480, reflecting the uniformity in this specific locale. These property taxes play a crucial role in funding essential community services, such as education, public safety, and infrastructure, thereby directly impacting the quality of life for residents.
Average Forks Tax Bill
$480
Average Jefferson County Tax Bill
$3,190
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Forks, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98331 | $149 | $261 | $480 | $992 | $2,088 |
Source: Ownwell