Cosmopolis, Washington Property Taxes
The median property tax rate in Cosmopolis, WA is 0.60%, significantly lower than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $172,250 in Cosmopolis, the typical annual property tax bill amounts to $923, well below the national median of $2,690. Property taxes in Cosmopolis are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Cosmopolis's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Cosmopolis or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cosmopolis, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$1,034
$959
Ownwell’s Cosmopolis Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Cosmopolis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cosmopolis to provide an estimated property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-specific trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, incorporating any applicable exemptions.
Property Tax Rates Across Cosmopolis, Washington
Property taxes in Cosmopolis, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cosmopolis is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities in Cosmopolis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cosmopolis 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 Cosmopolis's effective property tax rate to other areas in Washington and the national median. For comparison, the zip code 98537 has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these rates compare with Cosmopolis provides valuable insights into the varying tax landscape across Pacific County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cosmopolis Tax Rate
0.60%
Average Pacific County Tax Rate
0.79%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cosmopolis, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98537 | 0.18% | 0.60% | 0.60% | 0.62% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Cosmopolis, Washington
In Cosmopolis, 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 Pacific 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 Cosmopolis, 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 Cosmopolis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Cosmopolis are both $923, found in the 98537 zip code.
Average Cosmopolis Assessed Value
$172,250
Average Pacific County Assessed Value
$192,200
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cosmopolis, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98537 | $69,990 | $101,625 | $172,250 | $288,550 | $505,940 |
Source: Ownwell
Property Tax Bills Across Cosmopolis, Washington
In Cosmopolis, located in Pacific County, WA, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The median home price in Cosmopolis is $172,250. Property tax rates are applied to this assessed value to determine the tax bill. Homeowners in this city can expect a median tax bill of $923, which is significantly lower than the national median property tax rate of 0.99%. The tax bill can vary widely, with the 25th percentile at $507 and the 75th percentile reaching $1,590, reflecting differences in property values and any applicable exemptions. For those in the 90th percentile, the tax bill can be as high as $2,655. These taxes contribute to local services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Understanding these factors can help homeowners better anticipate their annual property tax expenses.
Average Cosmopolis Tax Bill
$923
Average Pacific County Tax Bill
$1,389
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Cosmopolis, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98537 | $403 | $507 | $923 | $1,590 | $2,655 |
Source: Ownwell