Elma, Washington Property Taxes
The median property tax rate in Elma, WA is 0.85%, 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 Elma at $147,152, the typical annual property tax bill is $1,052, significantly below the national median of $2,690. Property taxes in Elma are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Elma'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 Elma 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
Elma, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,251
$1,222
Ownwell’s Elma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elma 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 Elma, Washington
Property taxes in Elma, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elma is 0.85%, which is lower than the national median of 0.99%. Local government entities within Elma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elma 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 Elma's effective property tax rate to other counties in Washington and the national median. For comparison, the 98541 zip code has the highest median property tax rate of 0.85%, while the lowest median tax rate is also 0.85%. Understanding how these cities compare with Elma provides valuable insights into the varying tax landscape across Mason County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elma Tax Rate
0.85%
Average Mason County Tax Rate
0.86%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elma, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98541 | 0.58% | 0.83% | 0.85% | 0.89% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Elma, Washington
In Elma, 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 Mason 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 Elma, 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 Elma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price stands at $147,152, with the highest and lowest median tax bills in zip code 98541, both at $1,052.
Average Elma Assessed Value
$147,152
Average Mason County Assessed Value
$304,420
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elma, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98541 | $22,714 | $59,990 | $147,152 | $265,269 | $413,095 |
Source: Ownwell
Property Tax Bills Across Elma, Washington
In Elma, located in Mason County, WA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Elma is $147,152. Homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. The 25th percentile tax bill is $405, while the 75th percentile tax bill reaches $2,077, and the 90th percentile tax bill is as high as $3,449. These figures highlight the range of property tax bills within the area, reflecting differences in property values and possibly the influence of local tax levies. The highest and lowest median tax bill in the city both stand at $1,052, indicating a consistent tax rate across different properties. Compared to the national median property tax rate of 0.99%, Elma's property taxes can significantly impact homeowners, influencing their annual financial planning and overall cost of homeownership.
Average Elma Tax Bill
$1,052
Average Mason County Tax Bill
$2,654
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Elma, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98541 | $192 | $405 | $1,052 | $2,077 | $3,449 |
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 | |
|---|---|
| Mason Tax Assessor | |
| Website | property.masoncountywa.gov |