Toledo, Washington Property Taxes
The median property tax rate in Toledo, WA is 0.68%, significantly lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Toledo, the typical annual property tax bill amounts to $2,271, which is below the national median of $2,690. Property taxes in Toledo are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Toledo'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 Toledo or another part of Lewis County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Toledo, 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 Toledo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Toledo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Toledo 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 Toledo, Washington
Property taxes in Toledo, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Toledo is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Toledo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Toledo 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 Toledo's effective property tax rate to other areas in Lewis County and the national median. For comparison, the 98591 zip code has both the highest and lowest median property tax rate in the region at 0.68%. Understanding how these areas compare with Toledo 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 Toledo Tax Rate
0.68%
Average Lewis County Tax Rate
0.75%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Toledo, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98532 | N/A | N/A | N/A | N/A | N/A |
| 98591 | 0.65% | 0.68% | 0.68% | 0.69% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Toledo, Washington
In Toledo, 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 Toledo, 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. The median home price in Toledo is $348,350, with tax bills ranging from $1,049 at the 25th percentile to $4,373 at the 90th percentile. The zip code 98591 has both the highest and lowest median tax bill at $2,271. 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 Toledo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Toledo Assessed Value
$348,350
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 Toledo, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98532 | N/A | N/A | N/A | N/A | N/A |
| 98591 | $76,300 | $186,250 | $348,400 | $504,600 | $642,700 |
Source: Ownwell
Property Tax Bills Across Toledo, Washington
In Toledo, 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 Toledo is $348,350, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value. Homeowners in Toledo can expect their tax bills to vary significantly. For instance, tax bills at the 25th percentile are around $1,049, while those at the 75th percentile are approximately $3,367. The 90th percentile tax bill can reach up to $4,373. The highest and lowest median tax bills in the area are both $2,271, indicating some consistency in tax rates across different properties. Compared to the national median property tax rate of 0.99%, Toledo's rates may seem moderate, but they can still significantly impact homeowners' annual expenses. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Toledo Tax Bill
$2,271
Average Lewis County Tax Bill
$2,229
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Toledo, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98532 | N/A | N/A | N/A | N/A | N/A |
| 98591 | $415 | $1,049 | $2,271 | $3,367 | $4,373 |
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 |