Twisp, Washington Property Taxes
The median property tax rate in Twisp, WA is 1.08%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Twisp, the typical annual property tax bill reaches $2,364, which is close to the national median of $2,690. Property taxes in Twisp 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 Twisp'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 Twisp 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
Twisp, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$2,501
$2,444
Ownwell’s Twisp Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Twisp. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Twisp to provide an accurate estimate of your property tax bill. This valuable resource helps you anticipate potential tax liabilities, making financial planning easier. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property's assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Twisp, Washington
Property taxes in Twisp, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Twisp is 1.08%, which is higher than the U.S. national median of 0.99%. Local government entities within Twisp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Twisp 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 Twisp's effective property tax rate to other areas in Okanogan County and the national median. For comparison, the 98856 zip code has the highest median property tax rate of 1.08%, while the same zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Twisp 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 Twisp Tax Rate
1.08%
Average Okanogan County Tax Rate
1.08%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Twisp, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98856 | 0.81% | 0.93% | 1.08% | 1.13% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Twisp, Washington
In Twisp, 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 Twisp, 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 Twisp helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Twisp both stand at $2,364 in the 98856 zip code.
Average Twisp Assessed Value
$231,600
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 Twisp, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98856 | $78,160 | $149,825 | $231,600 | $343,575 | $460,280 |
Source: Ownwell
Property Tax Bills Across Twisp, Washington
In Twisp, 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 a percentage of the property's market value. For instance, with a median home price of $231,600, the tax bill can vary significantly within the area. Factors like property improvements, neighborhood changes, and market trends influence the assessed value. Homeowners in Twisp can expect their property tax bills to fall within a range, with the 25th percentile at $1,455 and the 75th percentile at $3,623. At the higher end, the 90th percentile tax bill reaches $4,874. These property taxes fund essential public services such as schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, Twisp's property taxes can be relatively high, impacting homeowners by increasing their annual expenses and influencing their overall cost of living.
Average Twisp Tax Bill
$2,364
Average Okanogan County Tax Bill
$1,302
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Twisp, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98856 | $596 | $1,455 | $2,364 | $3,623 | $4,874 |
Source: Ownwell