Mount Vernon, Washington Property Taxes
The median property tax rate in Mount Vernon, WA is 0.87%, slightly lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Mount Vernon, the typical annual property tax bill reaches $69, significantly below the national median of $2,690. Property taxes in Mount Vernon 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 Mount Vernon'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 Mount Vernon 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
Mount Vernon, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$70
$68
Ownwell’s Mount Vernon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Vernon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Vernon 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 Mount Vernon, Washington
Property taxes in Mount Vernon, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Vernon is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Mount Vernon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Vernon 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 Mount Vernon's effective property tax rate to other counties in Washington and the national median. For comparison, the zip code 98273 has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these areas compare with Mount Vernon provides valuable insights into the varying tax landscape across Skagit County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Vernon Tax Rate
0.87%
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 Mount Vernon, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98273 | 0.87% | 0.87% | 0.87% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Mount Vernon, Washington
In Mount Vernon, 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 local appraisal district 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 Mount Vernon, 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 Mount Vernon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The 25th percentile tax bill is $65, while the 75th and 90th percentiles reach $87, highlighting the range of property tax obligations in the area.
Average Mount Vernon Assessed Value
$8,000
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 Mount Vernon, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98273 | $7,500 | $7,500 | $8,000 | $10,000 | $10,000 |
Source: Ownwell
Property Tax Bills Across Mount Vernon, Washington
In Mount Vernon, Skagit County, WA, property tax bills are calculated based on the assessed value of the property and the applicable tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Factors such as property size, location, and improvements are considered in this valuation. The tax rate is set by local taxing authorities and can vary depending on the needs of the community, including funding for schools, infrastructure, and emergency services. For homeowners in Mount Vernon, the property tax bill can significantly impact their annual expenses. For example, with a median home price of $8,000, homeowners might see tax bills ranging from $65 at the 25th percentile to $87 at the 75th and 90th percentiles. These rates are relatively low compared to the national median property tax rate of 0.99%. Understanding how property taxes are calculated helps homeowners anticipate and manage their financial responsibilities more effectively.
Average Mount Vernon Tax Bill
$69
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 Mount Vernon, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98273 | $65 | $65 | $69 | $87 | $87 |
Source: Ownwell