Electric City, Washington Property Taxes
The median property tax rate in Electric City, WA is 0.41%, significantly lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Electric City at $323,703, the typical annual property tax bill is $1,319, which is well below the national median of $2,690. Property taxes in Electric City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Electric City'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 Electric City 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
Electric City, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$1,327
$1,232
Ownwell’s Electric City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Electric City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Electric City 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 Electric City, Washington
Property taxes in Electric City, Washington, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Electric City is 0.41%, significantly lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Electric City set these rates annually, and they can vary across different neighborhoods. Each year, Electric City 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 Electric City's effective property tax rate to other areas in Washington and the national median. For comparison, the zip code 99123 has both the highest and lowest median property tax rate of 0.41%. Understanding how these figures compare with Electric City provides valuable insights into the varying tax landscape across Pend Oreille County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Electric City Tax Rate
0.41%
Average Pend Oreille County Tax Rate
0.87%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Electric City, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99123 | 0.41% | 0.41% | 0.41% | 0.41% | 0.41% |
Source: Ownwell
Property Tax Assessment Values Across Electric City, Washington
In Electric City, 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 Pend Oreille 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 Electric City, 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 Electric City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Electric City are both $1319, found in the 99123 zip code.
Property Tax Assessment Values Across Electric City, Washington
Source: Ownwell
$8,000
$165,852
$323,703
Average Electric City Assessed Value
$323,703
Average Pend Oreille County Assessed Value
$181,614
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Electric City, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99123 | $323,703 | $323,703 | $323,703 | $323,703 | $323,703 |
Source: Ownwell
Property Tax Bills Across Electric City, Washington
Property tax bills in Electric City, located in Pend Oreille County, WA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Electric City face a median property tax bill of $1,319, which is consistent across various percentiles, including the 25th, 75th, and 90th percentiles. This uniformity suggests a stable property tax environment compared to the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property improvements, neighborhood developments, and local government budgets. For homeowners, these property taxes fund essential services like public schools, infrastructure, and emergency services, directly impacting the community's quality of life. Understanding how these taxes are calculated helps homeowners plan their finances better and appreciate the value these taxes bring to their community.
Average Electric City Tax Bill
$1,319
Average Pend Oreille County Tax Bill
$1,429
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Electric City, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99123 | $1,319 | $1,319 | $1,319 | $1,319 | $1,319 |
Source: Ownwell