Tonasket, Washington Property Taxes
The median property tax rate in Tonasket, WA is 1.16%, 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 $107,550 in Tonasket, the typical annual property tax bill comes to $1,094, falling below the national median of $2,690. Property taxes in Tonasket are calculated based on the tax assessed value, which often remains lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Tonasket's property tax system, exploring available exemptions, and pinpointing opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Tonasket or another part of the city, being well-versed in the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tonasket, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$1,248
$1,158
Ownwell’s Tonasket Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tonasket with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tonasket 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 Tonasket, Washington
Property taxes in Tonasket, Washington, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tonasket is 1.16%, higher than the U.S. national median of 0.99%. Local government entities within Tonasket set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tonasket 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 Tonasket's effective property tax rate to other areas in Okanogan County and the national median. For comparison, the 98855 zip code has the highest median property tax rate of 1.16%, while the same zip code also has the lowest median tax rate of 1.16%. Understanding how these areas compare with Tonasket 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 Tonasket Tax Rate
1.16%
Average Okanogan County Tax Rate
1.08%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tonasket, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98855 | 0.52% | 1.06% | 1.16% | 1.22% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Tonasket, Washington
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Tonasket, Washington. 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 Tonasket, 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 Tonasket helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 98855 has both the highest and lowest median tax bill, each at $1094.
Average Tonasket Assessed Value
$107,550
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 Tonasket, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98855 | $28,250 | $51,475 | $107,550 | $175,075 | $252,700 |
Source: Ownwell
Property Tax Bills Across Tonasket, Washington
In Tonasket, located in 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. Homeowners in this region experience varying tax bills, influenced by factors such as property size, location, and any applicable exemptions. The median home price in Tonasket is $107,550, and property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $465 annually, while those at the 75th percentile could see bills as high as $1,951. For the top 10% of properties, tax bills can reach up to $2,849. This variability affects homeowners differently, impacting their annual budgets and overall financial planning. Compared to the national median property tax rate of 0.99%, Tonasket’s property tax rates reflect the unique economic conditions of the area. Understanding these factors is crucial for homeowners to anticipate their property tax obligations accurately.
Average Tonasket Tax Bill
$1,094
Average Okanogan County Tax Bill
$1,302
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Tonasket, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98855 | $218 | $465 | $1,094 | $1,951 | $2,849 |
Source: Ownwell