Bridgeport, Washington Property Taxes
The median property tax rate in Bridgeport, WA is 1.18%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Bridgeport at $78,300, the typical annual property tax bill reaches $944, which is below the national median of $2,690. Property taxes in Bridgeport are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bridgeport'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 Bridgeport 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
Bridgeport, 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 Bridgeport Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bridgeport, WA using just two data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Bridgeport to provide an estimate of your property tax bill. This tool offers crucial insights into potential tax liabilities. For those interested in trends at a neighborhood level, more localized information is available by scrolling down. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Bridgeport, Washington
Property taxes in Bridgeport, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bridgeport is 1.18%, higher than the U.S. national median of 0.99%. Local government entities within Bridgeport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bridgeport 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 Bridgeport's effective property tax rate to other areas in Washington and the national median. For comparison, the 98813 zip code has the highest median property tax rate of 1.18%, while the same zip code also has the lowest median tax rate of 1.18%. Understanding how these areas compare with Bridgeport provides valuable insights into the varying tax landscape across Okanogan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bridgeport Tax Rate
1.18%
Average Okanogan County Tax Rate
1.08%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bridgeport, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98813 | 1.12% | 1.14% | 1.18% | 1.22% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Bridgeport, Washington
In Bridgeport, 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 Okanogan 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. 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 Bridgeport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Bridgeport, the highest median tax bill is $944 in the 98813 zip code, which is also the lowest median tax bill.
Average Bridgeport Assessed Value
$78,300
Average Okanogan County Assessed Value
$128,000
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bridgeport, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98813 | $56,860 | $64,900 | $78,300 | $91,700 | $99,740 |
Source: Ownwell
Property Tax Bills Across Bridgeport, Washington
In Bridgeport, located in Okanogan County, WA, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is based on the market value, which reflects the estimated price a property would sell for in the current market. Several factors influence this assessed value, including the property's location, size, and condition. Homeowners in Bridgeport can expect varying tax bills. For instance, the 25th percentile tax bill is $756, while the 75th percentile tax bill reaches $1131. At the higher end, the 90th percentile tax bill is $1244. These figures indicate that property taxes can significantly impact household budgets, especially when compared to the national median property tax rate of 0.99%. Understanding how these taxes are calculated helps homeowners budget effectively and anticipate their annual expenses. The highest and lowest median tax bills in the area are both $944, highlighting some consistency within the region's property tax assessments.
Average Bridgeport Tax Bill
$944
Average Okanogan County Tax Bill
$1,302
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Bridgeport, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98813 | $643 | $756 | $944 | $1,131 | $1,244 |
Source: Ownwell