Newport, Washington Property Taxes
The median property tax rate in Newport, WA is 0.87%, slightly below both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $222,626 in Newport, the typical annual property tax bill reaches $1,820, which is lower than the national median of $2,690. Property taxes in Newport are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Newport'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 Newport 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
Newport, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,937
$1,797
Ownwell’s Newport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newport 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 Newport, Washington
Property taxes in Newport, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newport is 0.87%, slightly below the U.S. national median of 0.99%. Local government entities within Newport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newport 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 Newport's effective property tax rate to other counties in Washington and the national median. For comparison, the 99156 zip code has both the highest and lowest median property tax rate of 0.87%. Understanding how these cities compare with Newport 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 Newport 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 Newport, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99156 | 0.45% | 0.83% | 0.87% | 0.89% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Newport, Washington
In Newport, 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 Newport, 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 Newport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Newport is $1820, found in the 99156 zip code, which also has the lowest median tax bill.
Average Newport Assessed Value
$222,626
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 Newport, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99156 | $79,141 | $138,992 | $222,626 | $322,008 | $436,068 |
Source: Ownwell
Property Tax Bills Across Newport, Washington
In Newport, located in Pend Oreille County, WA, property tax bills are calculated based on the assessed value of homes. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Newport can expect their tax bills to vary significantly depending on the value of their property. For instance, the tax bill for the 25th percentile is around $1,009, while for the 75th percentile, it rises to approximately $2,753. Those in the 90th percentile face even higher bills, nearing $3,749. The median home price in Newport is $222,626, and the property tax rate is a crucial factor in determining the overall tax bill. Homeowners in Newport should note that the highest and lowest median tax bills in the area are both $1,820, corresponding to zip code 99156. Compared to the national median property tax rate of 0.99%, Newport's property tax landscape provides a varied financial impact on homeowners, depending on their property's assessed value.
Average Newport Tax Bill
$1,820
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 Newport, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99156 | $493 | $1,009 | $1,820 | $2,753 | $3,749 |
Source: Ownwell