Trout Lake, Washington Property Taxes
The median property tax rate in Trout Lake, WA is 1.05%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Trout Lake at $304,250, the typical annual property tax bill reaches $3,142, exceeding the national median of $2,690. Property taxes in Trout Lake 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 Trout Lake'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 Trout Lake or another part of Klickitat County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Trout Lake, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$3,195
$3,121
Ownwell’s Trout Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Trout Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Trout Lake 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 Trout Lake, Washington
Property taxes in Trout Lake, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Trout Lake is 1.05%, higher than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Trout Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trout Lake 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 Trout Lake's effective property tax rate to other counties in Washington and the national median. For comparison, the 98672 zip code has the highest median property tax rate of 1.21%, while the 9865 zip code has the lowest median tax rate of 1.01%. Understanding how these cities compare with Trout Lake provides valuable insights into the varying tax landscape across Klickitat County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Trout Lake Tax Rate
1.05%
Average Klickitat County Tax Rate
1.07%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trout Lake, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 9865 | 0.98% | 1.00% | 1.01% | 1.02% | 1.07% |
| 98650 | 0.87% | 0.99% | 1.05% | 1.16% | 1.27% |
| 98672 | 1.18% | 1.19% | 1.21% | 1.22% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Trout Lake, Washington
In Trout Lake, 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 Klickitat County Assessor's Office 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 Trout Lake, 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 Trout Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $3,273 in zip code 98650, while the lowest is $1,022 in zip code 98672.
Average Trout Lake Assessed Value
$304,250
Average Klickitat County Assessed Value
$126,140
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Trout Lake, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 9865 | $90,724 | $120,400 | $127,000 | $136,980 | $160,812 |
| 98650 | $119,400 | $202,560 | $312,000 | $418,900 | $533,622 |
| 98672 | $54,472 | $66,160 | $85,640 | $105,120 | $116,808 |
Source: Ownwell
Property Tax Bills Across Trout Lake, Washington
In Trout Lake, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor. The assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. Homeowners in Trout Lake, located in Klickitat County, face varying tax bills depending on their property's assessed value and the specific tax rate applied by local taxing authorities. For instance, the median home price in Trout Lake is $304,250. The tax bill can range significantly, with the 25th percentile at $1,787 and the 75th percentile reaching $4,514. At the 90th percentile, homeowners might see tax bills as high as $5,439. The highest median tax bill in the area is $3,273 in zip code 98650, while the lowest median tax bill is $1,022 in zip code 98672. These variations highlight how different factors, such as property location and local tax rates, impact homeowners' annual tax obligations.
Average Trout Lake Tax Bill
$3,142
Average Klickitat County Tax Bill
$1,272
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Trout Lake, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 9865 | $900 | $1,223 | $1,288 | $1,364 | $1,716 |
| 98650 | $963 | $1,852 | $3,273 | $4,530 | $5,467 |
| 98672 | $667 | $800 | $1,022 | $1,243 | $1,376 |
Source: Ownwell