Hoodsport, Washington Property Taxes
The median property tax rate in Hoodsport, WA is 0.71%, notably lower than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $210,605 in Hoodsport, the typical annual property tax bill is approximately $1,405, which is below the national median of $2,690. Property taxes in Hoodsport are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Hoodsport'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 Hoodsport or another part of Mason County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hoodsport, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$1,495
$1,461
Ownwell’s Hoodsport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hoodsport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hoodsport 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 Hoodsport, Washington
Property taxes in Hoodsport, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hoodsport is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Hoodsport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hoodsport 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 Hoodsport's effective property tax rate to other counties in Washington and the national median. For comparison, the zip code 98548 has both the highest and lowest median property tax rate of 0.71%. Understanding how these cities compare with Hoodsport 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 Hoodsport Tax Rate
0.71%
Average Mason County Tax Rate
0.86%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hoodsport, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98548 | 0.59% | 0.71% | 0.71% | 0.72% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Hoodsport, Washington
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hoodsport, WA. 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 Hoodsport, 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. Hoodsport's median home price stands at $210,605, with tax bills ranging from the 25th percentile at $640 to the 90th percentile at $3,206. The highest and lowest median tax bills both fall in the 98548 zip code at $1,405. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Hoodsport, Washington
Source: Ownwell
$110,185
$623,515
$1,136,845
Average Hoodsport Assessed Value
$210,605
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 Hoodsport, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98548 | $57,099 | $112,994 | $210,632 | $326,342 | $453,548 |
Source: Ownwell
Property Tax Bills Across Hoodsport, Washington
In Hoodsport, located in Mason County, WA, property tax bills are determined by assessing the market value of a home and applying the local tax rate to that value. The median home price in Hoodsport is $210,605. Homeowners can expect their tax bills to vary significantly based on their property's assessed value and the specific tax rate applied. For instance, the tax bill at the 25th percentile is $640, while at the 75th percentile, it is $2,269. At the 90th percentile, homeowners might see their tax bills reach up to $3,206. The highest and lowest median tax bills in Hoodsport both stand at $1,405, which is higher than the national median property tax rate of 0.99%. These variations in tax bills affect homeowners by influencing their overall housing costs and potentially impacting their financial planning. Understanding these factors is crucial for homeowners to manage their expenses effectively and anticipate future tax liabilities.
Average Hoodsport Tax Bill
$1,405
Average Mason County Tax Bill
$2,654
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Hoodsport, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98548 | $349 | $640 | $1,405 | $2,269 | $3,206 |
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 |