Salkum, Washington Property Taxes
The median property tax rate in Salkum, WA is 0.67%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Salkum, the typical annual property tax bill reaches $2,551, falling below the national median of $2,690. Property taxes in Salkum are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Salkum'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 Salkum or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Salkum, Washington Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,760
Ownwell’s Salkum Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Salkum with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Salkum 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 Salkum, Washington
Property taxes in Salkum, Washington, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Salkum is 0.67%, which is lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Salkum set these rates annually, and they can vary significantly across different neighborhoods. Each year, Salkum 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 Salkum's effective property tax rate to other areas in Washington and the national median. For comparison, the zip code 98582 has the highest median property tax rate of 0.67%, while the same zip code also has the lowest median tax rate of 0.67%. Understanding how these areas compare with Salkum 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 Salkum Tax Rate
0.67%
Average Lewis County Tax Rate
0.75%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Salkum, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98582 | 0.66% | 0.67% | 0.67% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Salkum, Washington
In Salkum, 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 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 Salkum, 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 Salkum 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 $2,551, found in the zip code 98582.
Average Salkum Assessed Value
$387,450
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 Salkum, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98582 | $149,340 | $222,825 | $387,450 | $530,550 | $613,700 |
Source: Ownwell
Property Tax Bills Across Salkum, Washington
In Salkum, located in Lewis County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Salkum is $387,450, and the property tax rate is applied to this assessed value to determine the tax bill. Factors considered in the assessment include the home's market value, location, and any improvements made to the property. Homeowners in Salkum can expect their tax bills to vary significantly. For example, the 25th percentile tax bill is $1,348, while the 75th percentile reaches $3,534, and the 90th percentile can go up to $4,104. These variations reflect differences in property values and the specific attributes of each home. Compared to the national median property tax rate of 0.99%, Salkum's property tax rates can significantly impact homeowners, influencing their overall cost of living and financial planning. Understanding these factors helps homeowners anticipate their annual property tax obligations.
Average Salkum Tax Bill
$2,551
Average Lewis County Tax Bill
$2,229
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Salkum, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98582 | $812 | $1,348 | $2,551 | $3,534 | $4,104 |
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 |