Reardan, Washington Property Taxes
The median property tax rate in Reardan, WA is 0.90%, slightly below the national median of 0.99% but higher than the Washington state median of 0.88%. With the median home value in Reardan at $182,820, the typical annual property tax bill amounts to $1,651, which is significantly lower than the national median of $2,690. Property taxes in Reardan are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Reardan'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 Reardan or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Reardan, 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 Reardan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reardan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reardan 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 Reardan, Washington
Property taxes in Reardan, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Reardan is 0.90%, slightly below the U.S. national median of 0.99%. Local government entities within Reardan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reardan 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 Reardan's effective property tax rate to other counties in Washington and the national median. For comparison, the 99029 zip code has the highest median property tax rate of 0.90%, while the same zip code also has the lowest median tax rate of 0.90%. Understanding how these cities compare with Reardan provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Reardan Tax Rate
0.90%
Average Lincoln County Tax Rate
1.10%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reardan, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99029 | 0.90% | 0.90% | 0.90% | 0.96% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Reardan, Washington
In Reardan, 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 Lincoln 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 Reardan, 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 Reardan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Reardan is $182,820, with tax bills ranging from $614 at the 25th percentile to $3,115 at the 90th percentile. The zip code 99029 has the highest and lowest median tax bill of $1,651.
Average Reardan Assessed Value
$182,820
Average Lincoln County Assessed Value
$68,575
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Reardan, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99029 | $27,000 | $96,095 | $182,820 | $246,845 | $331,196 |
Source: Ownwell
Property Tax Bills Across Reardan, Washington
Property tax bills in Reardan, located in Lincoln County, WA, are determined by a combination of the assessed value of a property and the local tax rate. The assessed value is established by the county assessor based on the market value of the property, which in Reardan has a median home price of $182,820. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For homeowners in Reardan, this results in tax bills that can vary significantly. The 25th percentile tax bill is $614, while the 75th percentile reaches $2,322, and the 90th percentile can go up to $3,115. These variations are influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Reardan's tax bills reflect the specific economic and market conditions of the area. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Reardan Tax Bill
$1,651
Average Lincoln County Tax Bill
$618
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Reardan, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99029 | $186 | $614 | $1,651 | $2,322 | $3,115 |
Source: Ownwell