Okanogan, Washington Property Taxes
The median property tax rate in Okanogan, WA is 1.25%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Okanogan at $145,100, the typical annual property tax bill reaches $1,677, which is below the national median of $2,690. Property taxes in Okanogan 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 Okanogan'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 Okanogan 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
Okanogan, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$1,814
$1,683
Ownwell’s Okanogan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Okanogan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Okanogan 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 Okanogan, Washington
Property taxes in Okanogan, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Okanogan is 1.25%, significantly higher than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Okanogan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Okanogan 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 Okanogan's effective property tax rate to other counties in Washington and the national median. For comparison, the 98840 zip code has the highest median property tax rate of 1.25%, while the 97703 zip code has the lowest median tax rate of 0.90%. Understanding how these cities compare with Okanogan 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 Okanogan Tax Rate
1.25%
Average Okanogan County Tax Rate
1.08%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Okanogan, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97703 | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% |
| 98840 | 0.54% | 1.10% | 1.25% | 1.32% | 1.35% |
| 98841 | 1.10% | 1.10% | 1.10% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Okanogan, Washington
In Okanogan, 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 Appraisal District 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 Okanogan, 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 Okanogan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Okanogan is $2,552 in the 97703 zip code, while the lowest is $1,676 in the 98840 zip code.
Average Okanogan Assessed Value
$145,100
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 Okanogan, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97703 | $282,900 | $282,900 | $282,900 | $282,900 | $282,900 |
| 98840 | $50,220 | $94,050 | $145,100 | $206,900 | $289,320 |
| 98841 | $161,410 | $166,375 | $174,650 | $182,925 | $187,890 |
Source: Ownwell
Property Tax Bills Across Okanogan, Washington
In Okanogan, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $145,100, homeowners can expect varying tax bills depending on several factors, including the specific tax rate applied and any exemptions they may qualify for. Homeowners in the 25th percentile of tax bills pay around $921 annually, while those in the 75th percentile face a tax bill of approximately $2,551. For the top 10% of tax bills, the amount can reach up to $3,557. These figures illustrate the range of property tax obligations within the area, which can significantly impact household budgets. Compared to the national median property tax rate of 0.99%, Okanogan homeowners may find their tax rates either more manageable or more burdensome depending on their specific circumstances and assessed home values.
Average Okanogan Tax Bill
$1,677
Average Okanogan County Tax Bill
$1,302
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Okanogan, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97703 | $2,552 | $2,552 | $2,552 | $2,552 | $2,552 |
| 98840 | $322 | $916 | $1,676 | $2,551 | $3,560 |
| 98841 | $1,778 | $1,832 | $1,922 | $2,012 | $2,067 |
Source: Ownwell