Olalla, Washington Property Taxes
The median property tax rate in Olalla, WA is 0.84%, slightly lower than the Washington state median of 0.88% but still below the national median of 0.99%. With a median home value of $526,865, the typical annual property tax bill in Olalla reaches $4,293, significantly higher than the national median of $2,690. Property taxes in Olalla are calculated based on the assessed value, which usually falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Olalla'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 Olalla or another part of Kitsap County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Olalla, Washington Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,760
$612
$1,148
Average Olalla, Washington Tax Savings
Ownwell’s Olalla Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Olalla with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Olalla 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 Olalla. 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 Olalla, Washington
Property taxes in Olalla, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Olalla stands at 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Olalla set these rates annually, and they can vary significantly across different neighborhoods. Each year, Olalla 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 Olalla's effective property tax rate to other areas in Kitsap County and the national median. For comparison, the 98359 zip code has both the highest and lowest median property tax rate of 0.84%. Understanding how these areas compare with Olalla provides valuable insights into the varying tax landscape across Kitsap County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Olalla Tax Rate
0.84%
Average Kitsap County Tax Rate
0.86%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Olalla, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98359 | 0.82% | 0.83% | 0.84% | 0.85% | 0.86% |
Source: Ownwell
$1,148
Average Olalla Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Olalla, Washington
In Olalla, 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 Kitsap 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 Olalla, 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. For instance, the highest median tax bill in Olalla is $4,293 in the 98359 zip code, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Olalla Assessed Value
$526,865
Average Kitsap County Assessed Value
$467,930
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Olalla, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98359 | $269,891 | $385,018 | $526,865 | $693,665 | $869,359 |
Source: Ownwell
$1,148
Average Olalla Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Olalla, Washington
In Olalla, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the Kitsap County assessor. The median home price in Olalla is $526,865, and the property tax rates are applied to this assessed value. Homeowners can expect tax bills ranging from $3,014 at the 25th percentile to $7,114 at the 90th percentile. The highest and lowest median tax bills in the 98359 zip code are both $4,293, reflecting a consistent tax rate across the area. Several factors influence the tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. This can significantly impact homeowners, making it crucial to ensure their property is assessed accurately. Ownwell can help homeowners in Olalla save on their property tax bills by providing expert property tax appeal and exemption services. By ensuring that properties are assessed fairly and leveraging available exemptions, Ownwell helps reduce the financial burden on homeowners, potentially saving them hundreds or even thousands of dollars annually.
Average Olalla Tax Bill
$4,293
Average Kitsap County Tax Bill
$3,994
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Olalla, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98359 | $1,488 | $3,014 | $4,293 | $5,719 | $7,114 |
Source: Ownwell
$1,148
Average Olalla Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | August 23 |
| Tax Bill | |
| Issued | February 10 |
| Due Date #1 | April 30 |
| Due Date #2 | October 31 |
Links | |
|---|---|
| Kitsap Tax Assessor | |
| Website | psearch.kitsapgov.com |
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