Baring, Washington Property Taxes
The median property tax rate in Baring, WA is 0.85%, slightly lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Baring, the typical annual property tax bill reaches $2,164, which is below the national median of $2,690. Property taxes in Baring 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 Baring'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 Baring 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
Baring, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$2,231
$2,071
$1,148
Average Tax Savings
Ownwell’s Baring Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Baring with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Baring to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Baring. 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 Baring, Washington
Property taxes in Baring, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Baring is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Baring set these rates annually, and they can vary significantly across different neighborhoods. Each year, Baring 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 Baring's effective property tax rate to other counties in Washington and the national median. For comparison, the zip code 98224 has both the highest and lowest median property tax rate of 0.85%. Understanding how these cities compare with Baring provides valuable insights into the varying tax landscape across King County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Baring Tax Rate
0.85%
Average King County Tax Rate
0.88%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Baring, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98224 | 0.74% | 0.81% | 0.85% | 0.89% | 0.97% |
Source: Ownwell
$1,148
Average Baring Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Baring, Washington
In Baring, 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 King 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 Baring, 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 Baring helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 98224 has the highest and lowest median tax bill, both at $2,164.
Property Tax Assessment Values Across Baring, Washington
Source: Ownwell
$238,500
$11,294,750
$22,351,000
Average Baring Assessed Value
$262,500
Average King County Assessed Value
$770,000
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Baring, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98224 | $99,900 | $182,000 | $262,500 | $311,500 | $366,000 |
Source: Ownwell
$1,148
Average Baring Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Baring, Washington
Property tax bills in Baring, located in King County, WA, are calculated based on the assessed value of a property and the local tax rate. With a median home price of $262,500, homeowners in Baring face property tax bills that vary widely. The 25th percentile tax bill is around $1,490, while the 75th percentile reaches $2,567, and the 90th percentile peaks at $2,967. These figures illustrate how property taxes can significantly impact household budgets. Several factors influence the tax bill, including property size, location, and improvements. The assessed value is determined by the county assessor, and the tax rate is applied to this value to calculate the final bill. Comparatively, Baring's property tax rates are competitive, given the national median property tax rate of 0.99%. Ownwell can assist homeowners in Baring by identifying potential inaccuracies in property assessments and filing appeals to correct them. This service can lead to substantial savings, ensuring homeowners pay only their fair share of property taxes.
Average Baring Tax Bill
$2,164
Average King County Tax Bill
$7,093
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Baring, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98224 | $593 | $1,490 | $2,164 | $2,567 | $2,967 |
Source: Ownwell
$1,148
Average Baring Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| King Tax Assessor | |
| Phone | (206) 296-7300 |
| Website | blue.kingcounty.com |
| assessor.info@kingcounty.gov | |
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