Packwood, Washington Property Taxes
The median property tax rate in Packwood, 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 $300,200 in Packwood, the typical annual property tax bill amounts to $2,151, falling below the national median of $2,690. Property taxes in Packwood are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Packwood's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Packwood or another part of Lewis County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Packwood, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$2,221
$2,170
Ownwell’s Packwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Packwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Packwood 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 Lewis County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Packwood, Washington
Property taxes in Packwood, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Packwood is 0.74%, which is below the U.S. national median of 0.99%. Local government entities within Packwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Packwood 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 Packwood's effective property tax rate to other counties in Washington and the national median. For comparison, the zip code 98361 has both the highest and lowest median property tax rate of 0.74%. Understanding how these cities compare with Packwood provides valuable insights into the varying tax landscape across Lewis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Packwood Tax Rate
0.74%
Average Lewis County Tax Rate
0.75%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Packwood, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98361 | 0.73% | 0.73% | 0.74% | 0.74% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Packwood, Washington
In Packwood, 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 Lewis 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 Packwood, 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 Packwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Packwood are both $2,151, specifically in the 98361 zip code.
Average Packwood Assessed Value
$300,200
Average Lewis County Assessed Value
$301,900
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Packwood, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98361 | $92,260 | $180,100 | $300,200 | $421,900 | $544,800 |
Source: Ownwell
Property Tax Bills Across Packwood, Washington
In Packwood, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the Lewis County Assessor's Office and reflects a percentage of the property's market value. For example, with a median home price of $300,200, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $1,207, while at the 75th percentile, the bill can rise to approximately $3,065. The 90th percentile sees tax bills reaching up to $3,935. These figures highlight how property taxes can impact homeowners differently based on their property's assessed value. Packwood's property tax rate is influenced by local levies and state regulations, and it plays a crucial role in funding community services such as schools, infrastructure, and emergency services. While the national median property tax rate is 0.99%, the specific rate in Packwood will determine the final tax bill, making it essential for homeowners to understand how their property assessments and local tax rates interact.
Average Packwood Tax Bill
$2,151
Average Lewis County Tax Bill
$2,229
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Packwood, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98361 | $579 | $1,207 | $2,151 | $3,065 | $3,935 |
Source: 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 | |
|---|---|
| Lewis Tax Assessor | |
| Website | parcels.lewiscountywa.gov |