Winthrop, Washington Property Taxes
The median property tax rate in Winthrop, 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 Winthrop at $321,650, the typical annual property tax bill reaches $3,430, exceeding the national median of $2,690. Property taxes in Winthrop 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 Winthrop'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 Winthrop 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
Winthrop, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$3,474
$3,394
Ownwell’s Winthrop Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winthrop with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winthrop 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 Winthrop, Washington
Property taxes in Winthrop, WA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winthrop is 1.08%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Winthrop set these rates annually, and they can vary across different neighborhoods. Each year, Winthrop 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 Winthrop's effective property tax rate to other areas in Okanogan County and the national median. For comparison, the 98862 zip code has the highest median property tax rate of 1.08%, while the same 98862 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Winthrop 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 Winthrop 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 Winthrop, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98862 | 0.85% | 1.02% | 1.08% | 1.19% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Winthrop, Washington
In Winthrop, 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 Winthrop, 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 Winthrop helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 98862, with a median tax bill of $3430.
Average Winthrop Assessed Value
$321,650
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 Winthrop, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98862 | $99,840 | $196,350 | $321,650 | $456,200 | $596,480 |
Source: Ownwell
Property Tax Bills Across Winthrop, Washington
In Winthrop, 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, who evaluates the property's market value. This value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, the median home price in Winthrop is $321,650, and property tax bills can range significantly. Homeowners in the 25th percentile pay around $2,080, while those in the 75th percentile see bills closer to $4,900, and the 90th percentile reaches up to $6,402. The highest and lowest median tax bills in the area are both $3,430, reflecting the uniformity in assessments within the zip code 98862. Compared to the national median property tax rate of 0.99%, Winthrop's property taxes can be a significant factor for homeowners, potentially influencing decisions on buying, selling, or investing in property within the area.
Average Winthrop Tax Bill
$3,430
Average Okanogan County Tax Bill
$1,302
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Winthrop, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98862 | $915 | $2,080 | $3,430 | $4,900 | $6,402 |
Source: Ownwell