Yarrow Point, Washington Property Taxes
The median property tax rate in Yarrow Point, WA is 0.63%, considerably lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Yarrow Point, the typical annual property tax bill reaches $24,822, significantly higher than the national median of $2,690. Property taxes in Yarrow Point 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 Yarrow Point'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 Yarrow Point 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
Yarrow Point, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$25,181
$23,367
$1,148
Average Tax Savings
Ownwell’s Yarrow Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yarrow Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yarrow Point 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 Yarrow Point. 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 Yarrow Point, Washington
Property taxes in Yarrow Point, Washington, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yarrow Point is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Yarrow Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yarrow Point 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 Yarrow Point's effective property tax rate to other areas in King County and the national median. For comparison, the 98004 zip code has the highest median property tax rate of 0.63%, while the same 98004 zip code also has the lowest median tax rate of 0.63%. Understanding how these areas compare with Yarrow Point 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 Yarrow Point Tax Rate
0.63%
Average King County Tax Rate
0.88%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yarrow Point, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98004 | 0.62% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
$1,148
Average Yarrow Point Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Yarrow Point, Washington
In Yarrow Point, 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 Yarrow Point, 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 Yarrow Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $24,822, found in the 98004 zip code.
Property Tax Assessment Values Across Yarrow Point, Washington
Source: Ownwell
$238,500
$11,294,750
$22,351,000
Average Yarrow Point Assessed Value
$3,997,000
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 Yarrow Point, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98004 | $2,690,000 | $3,105,000 | $3,997,000 | $5,926,000 | $10,751,000 |
Source: Ownwell
$1,148
Average Yarrow Point Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Yarrow Point, Washington
In Yarrow Point, King County, WA, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. This value is then multiplied by the local tax rate. The median home price in Yarrow Point is a staggering $3,997,000, leading to substantial tax bills. For example, the 25th percentile tax bill is $19,513, while the 75th percentile soars to $37,192, and the 90th percentile reaches an eye-watering $67,186. These figures far exceed the national median property tax rate of 0.99%. Factors such as property size, location, and improvements can influence the assessed value, thus affecting your tax bill. High property taxes can be a significant burden for homeowners, but this is where Ownwell steps in. Our expert consultants specialize in property tax appeals and exemptions, ensuring that your home's assessed value is fair and accurate. By leveraging our services, homeowners can potentially save thousands on their property tax bills, making homeownership more affordable.
Average Yarrow Point Tax Bill
$24,822
Average King County Tax Bill
$7,093
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Yarrow Point, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98004 | $16,107 | $19,513 | $24,822 | $37,192 | $67,186 |
Source: Ownwell
$1,148
Average Yarrow Point 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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