South Bend, Washington Property Taxes
The median property tax rate in South Bend, WA is 0.84%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in South Bend being $207,500, the typical annual property tax bill amounts to $1,614, significantly below the national median of $2,690. Property taxes in South Bend are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding South Bend'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 South Bend 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
South Bend, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,743
$1,617
Ownwell’s South Bend Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Bend with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Bend 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 South Bend, Washington
Property taxes in South Bend, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Bend is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within South Bend set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Bend 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 South Bend's effective property tax rate to other areas in Washington and the national median. For comparison, the 98586 zip code has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with South Bend 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 South Bend Tax Rate
0.84%
Average Pacific County Tax Rate
0.79%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Bend, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98586 | 0.28% | 0.82% | 0.84% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across South Bend, Washington
In South Bend, 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 South Bend, 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. The median home price in South Bend is $207,500, with tax bills ranging from the 25th percentile at $1,023 to the 90th percentile at $3,476. The zip code 98586 has the highest and lowest median tax bill at $1,614. Being aware of these valuation processes in South Bend helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average South Bend Assessed Value
$207,500
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 South Bend, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98586 | $101,500 | $146,225 | $207,500 | $289,250 | $430,300 |
Source: Ownwell
Property Tax Bills Across South Bend, Washington
In South Bend, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the county assessor and reflects the estimated market value of the property. In Pacific County, where South Bend is located, the median home price is $207,500. This value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property location, home size, and improvements can influence the assessed value, and subsequently, the tax bill. Homeowners in South Bend experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $1,023, while at the 75th percentile, it reaches $2,367. At the 90th percentile, homeowners might see a tax bill as high as $3,476. Compared to the national median property tax rate of 0.99%, South Bend's rates can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average South Bend Tax Bill
$1,614
Average Pacific County Tax Bill
$1,389
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across South Bend, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98586 | $356 | $1,023 | $1,614 | $2,367 | $3,476 |
Source: Ownwell