Ilwaco, Washington Property Taxes
The median property tax rate in Ilwaco, WA is 0.66%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $295,700 in Ilwaco, the typical annual property tax bill amounts to $1,929, falling below the national median of $2,690. Property taxes in Ilwaco are calculated based on the assessed value, which often comes in lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Ilwaco'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 Ilwaco 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
Ilwaco, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,952
$1,811
Ownwell’s Ilwaco Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a straightforward way to estimate annual property taxes in Ilwaco with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ilwaco to provide an estimated property tax bill. This invaluable tool helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in more detailed insights, neighborhood-level trends are available further down the page. Your property’s assessed value, determined by the county, is used for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Ilwaco, Washington
Property taxes in Ilwaco, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ilwaco is 0.66%, lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Ilwaco set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ilwaco 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 Ilwaco's effective property tax rate to other areas in Pacific County and the national median. For comparison, the zip code 98624 has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Ilwaco 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 Ilwaco Tax Rate
0.66%
Average Pacific County Tax Rate
0.79%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ilwaco, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98624 | 0.66% | 0.66% | 0.66% | 0.66% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Ilwaco, Washington
In Ilwaco, 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's Office 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 Ilwaco, 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. The median home price in Ilwaco is $295,700, with tax bills ranging from $1,250 at the 25th percentile to $4,225 at the 90th percentile. The highest and lowest median tax bills are both $1,929 in the 98624 zip code. By understanding 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 Ilwaco helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ilwaco Assessed Value
$295,700
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 Ilwaco, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98624 | $122,000 | $201,500 | $295,700 | $466,000 | $639,700 |
Source: Ownwell
Property Tax Bills Across Ilwaco, Washington
In Ilwaco, located in Pacific County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is a percentage of the property's market value, reflecting its worth in the current real estate market. For example, with a median home price of $295,700 in Ilwaco, homeowners can expect their property tax bills to vary significantly. At the 25th percentile, property tax bills are around $1,250, while those at the 75th percentile reach approximately $3,058. The highest tax bills, at the 90th percentile, can be as much as $4,225. These figures illustrate the range of property tax burdens faced by homeowners in Ilwaco. Compared to the national median property tax rate of 0.99%, Ilwaco's tax rates reflect the unique economic and real estate conditions of the area. Homeowners should be aware of these factors as they significantly impact their annual expenses and overall financial planning.
Average Ilwaco Tax Bill
$1,929
Average Pacific County Tax Bill
$1,389
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Ilwaco, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98624 | $340 | $1,250 | $1,929 | $3,058 | $4,225 |
Source: Ownwell