Methow, Washington Property Taxes
The median property tax rate in Methow, WA is 1.09%, which is notably higher than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $125,550, the typical annual property tax bill in Methow reaches $1,281, still below the national median of $2,690. Property taxes in Methow are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Methow'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 Methow or another part of Okanogan County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Methow, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$1,368
$1,337
Ownwell’s Methow Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers seeking to estimate their annual property taxes in Methow. With just two data points, you can quickly determine your tax bill based on your property's estimated assessed value. The calculator uses the median tax rate in Methow to provide an accurate estimate, helping you understand potential tax liabilities. For those interested in more detailed insights, scroll down for localized information on neighborhood trends. Your property’s assessed value, determined by the county, forms the basis for property tax calculations and includes any applicable exemptions. This tool simplifies the process, offering clarity and peace of mind for property owners in Methow.
Property Tax Rates Across Methow, Washington
Property taxes in Methow, Washington, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Methow is 1.09%, higher than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Methow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Methow 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 Methow's effective property tax rate to other areas in Washington and the national median. For comparison, the zip code 98834 has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these areas compare with Methow 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 Methow Tax Rate
1.09%
Average Okanogan County Tax Rate
1.08%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Methow, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98834 | 0.39% | 0.97% | 1.09% | 1.16% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Methow, Washington
In Methow, 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. In Methow, 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 Methow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Methow are both $1281, found in the 98834 zip code.
Average Methow Assessed Value
$125,550
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 Methow, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98834 | $30,610 | $54,650 | $125,550 | $206,475 | $389,590 |
Source: Ownwell
Property Tax Bills Across Methow, Washington
In Methow, Okanogan County, WA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. This value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the tax bill, including the property's location, size, and improvements. The median home price in Methow is $125,550, and the property tax rate in Okanogan County closely aligns with the national median rate of 0.99%. Homeowners in the 25th percentile can expect a tax bill around $485, while those in the 75th percentile may see bills as high as $2,047. For the top 10% of high-value properties, tax bills can reach up to $4,229. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community and homeowners' quality of life.
Average Methow Tax Bill
$1,281
Average Okanogan County Tax Bill
$1,302
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Methow, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98834 | $193 | $485 | $1,281 | $2,047 | $4,229 |
Source: Ownwell