Normandy Park, Washington Property Taxes
The median property tax rate in Normandy Park, WA is 1.20%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Normandy Park at $853,000, the typical annual property tax bill reaches $10,153, significantly exceeding the national median of $2,690. Property taxes in Normandy Park are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence exemption. Understanding Normandy Park'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 Normandy Park 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
Normandy Park, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$10,236
$10,000
$1,148
Average Normandy Park, Washington Tax Savings
Ownwell’s Normandy Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Normandy Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Normandy Park 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 Normandy Park. 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 Normandy Park, Washington
Property taxes in Normandy Park, Washington, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Normandy Park is 1.20%, which is higher than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Normandy Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Normandy Park 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 Normandy Park's effective property tax rate to other areas in King County and the national median. For comparison, the 98148 zip code has the highest median property tax rate of 1.22%, while the 98166 zip code has the lowest median tax rate of 1.20%. Understanding how these areas compare with Normandy Park 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 Normandy Park Tax Rate
1.20%
Average King County Tax Rate
0.88%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Normandy Park, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98148 | 1.20% | 1.21% | 1.22% | 1.22% | 1.22% |
| 98166 | 1.18% | 1.19% | 1.20% | 1.21% | 1.22% |
| 98198 | 1.18% | 1.20% | 1.20% | 1.22% | 1.24% |
Source: Ownwell
$1,148
Average Normandy Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Normandy Park, Washington
In Normandy Park, 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. 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 Normandy Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the region is $10,258 in zip code 98166, while the lowest is $6,647 in zip code 98148.
Property Tax Assessment Values Across Normandy Park, Washington
Source: Ownwell
$238,500
$11,294,750
$22,351,000
Average Normandy Park Assessed Value
$853,000
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 Normandy Park, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98148 | $510,000 | $520,500 | $545,000 | $617,000 | $812,400 |
| 98166 | $587,000 | $720,000 | $860,000 | $1,034,750 | $1,308,500 |
| 98198 | $434,000 | $577,500 | $746,000 | $913,000 | $1,466,000 |
Source: Ownwell
$1,148
Average Normandy Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Normandy Park, Washington
Property tax bills in Normandy Park, located in King County, WA, are calculated based on the assessed value of the property and the local tax rate. The median home price in this area is $853,000, which significantly impacts the property tax bill. Factors such as property size, location, and improvements are considered in the assessment process. Homeowners in Normandy Park face property tax bills ranging from $8,461 at the 25th percentile to $15,523 at the 90th percentile, with the highest median tax bill in the 98166 zip code at $10,258. These substantial tax bills can place a financial strain on homeowners. However, Ownwell can assist by providing expert property tax appeal and exemption services. By thoroughly analyzing property assessments and identifying potential discrepancies, Ownwell helps homeowners reduce their tax liabilities. This can result in significant savings, ensuring that property owners are not overpaying on their taxes and are only paying their fair share.
Average Normandy Park Tax Bill
$10,153
Average King County Tax Bill
$7,093
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Normandy Park, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98148 | $6,239 | $6,362 | $6,647 | $7,486 | $9,762 |
| 98166 | $6,734 | $8,557 | $10,258 | $12,285 | $15,511 |
| 98198 | $5,191 | $6,863 | $8,977 | $10,840 | $17,375 |
Source: Ownwell
$1,148
Average Normandy Park 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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