Pacific, Washington Property Taxes
The median property tax rate in PACIFIC, WA is 1.10%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in PACIFIC at $469,000, the typical annual property tax bill reaches $5,114, exceeding the national median of $2,690. Property taxes in PACIFIC 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 PACIFIC'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 PACIFIC or another part of King County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pacific, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$5,159
$4,787
$1,148
Average Tax Savings
Ownwell’s Pacific Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pacific with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pacific 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 Pacific. 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 Pacific, Washington
Property taxes in PACIFIC, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in PACIFIC is 1.10%, higher than both the Washington state median and the U.S. national median of 0.99%. Local government entities within PACIFIC set these rates annually, and they can vary significantly across different neighborhoods. Each year, PACIFIC 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 PACIFIC's effective property tax rate to other areas in Washington and the national median. For comparison, the 98047 zip code has the highest median property tax rate of 1.10%, while the 98001 zip code has the lowest median tax rate of 1.08%. Understanding how these areas compare with PACIFIC 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 Pacific Tax Rate
1.10%
Average King County Tax Rate
0.88%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pacific, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98001 | 0.45% | 0.69% | 1.08% | 1.08% | 1.09% |
| 98047 | 1.09% | 1.10% | 1.10% | 1.10% | 1.11% |
Source: Ownwell
$1,148
Average Pacific Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Pacific, Washington
In PACIFIC, 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 PACIFIC, 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. For example, the median home price in PACIFIC is $469,000, with tax bills ranging from $4,284 at the 25th percentile to $6,232 at the 90th percentile. The highest median tax bill is found in zip code 98047 at $5,115, while the lowest is in zip code 98001 at $4,718. 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 PACIFIC helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Pacific, Washington
Source: Ownwell
$238,500
$11,294,750
$22,351,000
Average Pacific Assessed Value
$469,000
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 Pacific, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98001 | $463,800 | $511,500 | $591,000 | $655,000 | $693,400 |
| 98047 | $307,000 | $403,000 | $469,000 | $520,000 | $568,400 |
Source: Ownwell
$1,148
Average Pacific Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Pacific, Washington
In the Pacific region of King County, WA, property tax bills are calculated based on the assessed value of a home, not its market value. The median home price in this area is $469,000. Tax rates are applied to this assessed value to determine the annual tax bill. For instance, the 25th percentile tax bill is $4,284, while the 75th percentile tax bill is $5,707, indicating a range of tax burdens depending on property values and specific local tax rates. Several factors influence the tax bill, including local levies for schools, infrastructure, and public services. Homeowners in the highest median tax bill zip code, 98047, pay around $5,115, while those in the lowest median tax bill zip code, 98001, pay approximately $4,718. These variations can significantly impact household finances. Ownwell assists homeowners by appealing inaccurate assessments and identifying applicable exemptions, potentially saving them hundreds or even thousands of dollars annually. By leveraging expert knowledge and local data, Ownwell ensures homeowners pay only their fair share of property taxes.
Average Pacific Tax Bill
$5,114
Average King County Tax Bill
$7,093
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Pacific, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98001 | $2,649 | $3,425 | $4,718 | $5,542 | $6,037 |
| 98047 | $2,621 | $4,287 | $5,115 | $5,707 | $6,231 |
Source: Ownwell
$1,148
Average Pacific 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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