Malaga, Washington Property Taxes
The median property tax rate in Malaga, WA is 0.74%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $160,635 in Malaga, the typical annual property tax bill is $1,196, significantly below the national median of $2,690. Property taxes in Malaga are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Malaga's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Malaga or another part of the city, gaining a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Malaga, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,189
$1,161
Ownwell’s Malaga Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Malaga with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Malaga to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. 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 Malaga, Washington
Property taxes in Malaga, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Malaga is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Malaga set these rates annually, and they can vary significantly across different neighborhoods. Each year, Malaga 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 Malaga's effective property tax rate to other counties in Washington and the national median. For comparison, the 98828 zip code has both the highest and lowest median property tax rate in the region at 0.74%. Understanding how these cities compare with Malaga provides valuable insights into the varying tax landscape across Chelan, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Malaga Tax Rate
0.74%
Average Kittitas County Tax Rate
0.67%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Malaga, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98828 | 0.73% | 0.74% | 0.74% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Malaga, Washington
In Malaga, 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 Chelan County Assessor 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 Malaga, 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. In Malaga, the zip code with the highest median tax bill is 98828, with a median tax bill of $1,196. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Malaga Assessed Value
$160,635
Average Kittitas County Assessed Value
$385,890
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Malaga, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98828 | $111,719 | $130,062 | $160,635 | $191,208 | $209,551 |
Source: Ownwell
Property Tax Bills Across Malaga, Washington
In Malaga, located in Kittitas County, WA, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of your property. For homeowners in Malaga, the median home price is $160,635. The tax rate is applied to this assessed value to determine the annual tax bill. Factors considered in this calculation include the property's market value, any applicable exemptions, and the local tax rate. For example, the 25th percentile tax bill is $962, while the 75th percentile reaches $1,431. The highest median tax bill in the area is $1,196, which aligns with the national median property tax rate of 0.99%. These property taxes fund essential community services such as schools, infrastructure, and emergency services. Homeowners in Malaga should be aware of these factors as they significantly impact annual expenses and overall affordability of homeownership.
Average Malaga Tax Bill
$1,196
Average Kittitas County Tax Bill
$3,249
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Malaga, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98828 | $821 | $962 | $1,196 | $1,431 | $1,571 |
Source: Ownwell