Milton, Washington Property Taxes
The median property tax rate in Milton, WA is 1.08%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Milton, the typical annual property tax bill reaches $5,563, exceeding the national median of $2,690. Property taxes in Milton 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 Milton'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 Milton 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
Milton, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$5,605
$5,201
$1,148
Average Tax Savings
Ownwell’s Milton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Milton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Milton 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 Milton. 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 Milton, Washington
Property taxes in Milton, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milton is 1.08%, higher than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Milton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milton 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 Milton's effective property tax rate to other counties in Washington and the national median. For comparison, the zip code 98354 has both the highest and the lowest median property tax rate of 1.08%, which is the same as Milton's rate. Understanding how these cities compare with Milton 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 Milton Tax Rate
1.08%
Average King County Tax Rate
0.88%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milton, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98354 | 1.08% | 1.08% | 1.08% | 1.08% | 1.08% |
Source: Ownwell
$1,148
Average Milton Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Milton, Washington
In Milton, 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 Milton, 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 Milton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Milton both stand at $5,563, found in zip code 98354.
Property Tax Assessment Values Across Milton, Washington
Source: Ownwell
$238,500
$11,294,750
$22,351,000
Average Milton Assessed Value
$519,000
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 Milton, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98354 | $438,200 | $480,750 | $519,000 | $570,000 | $725,400 |
Source: Ownwell
$1,148
Average Milton Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Milton, Washington
Property tax bills in Milton, King County, WA, are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate. Milton's property tax rate is higher than the national median of 0.99%, which can result in significant tax bills for homeowners. For instance, the median home price in Milton is $519,000, leading to tax bills ranging from $5,109 at the 25th percentile to $7,690 at the 90th percentile. The highest median tax bill in the area is $5,563, found in the 98354 zip code. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value, impacting the final tax bill. Ownwell can help homeowners in Milton save on their property tax bills by providing expert property tax appeal and exemption services. By challenging over-assessments and ensuring all eligible exemptions are applied, Ownwell can significantly reduce the financial burden on homeowners.
Average Milton Tax Bill
$5,563
Average King County Tax Bill
$7,093
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Milton, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98354 | $4,622 | $5,109 | $5,563 | $6,127 | $7,690 |
Source: Ownwell
$1,148
Average Milton 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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