Spanaway, Washington Property Taxes
The median property tax rate in Spanaway, WA is 1.14%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Spanaway at $412,000, the typical annual property tax bill reaches $4,657, exceeding the national median of $2,690. Property taxes in Spanaway 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 Spanaway'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 Spanaway 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
Spanaway, Washington Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,760
$612
$1,148
Average Spanaway, Washington Tax Savings
Ownwell’s Spanaway Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spanaway with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spanaway to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Spanaway. 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 Spanaway, Washington
Property taxes in Spanaway, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spanaway is 1.14%, which is notably higher than the U.S. national median of 0.99%. Local government entities within Spanaway set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spanaway 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 Spanaway's effective property tax rate to other areas in Pierce County and the national median. For comparison, the 98387 zip code has the median property tax rate of 1.14%. Understanding how these cities compare with Spanaway provides valuable insights into the varying tax landscape across Pierce County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Spanaway Tax Rate
1.14%
Average Pierce County Tax Rate
1.02%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spanaway, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98387 | 0.96% | 1.11% | 1.14% | 1.16% | 1.19% |
Source: Ownwell
$1,148
Average Spanaway Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Spanaway, Washington
In Spanaway, 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 Pierce County Assessor-Treasurer 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 Spanaway, 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 Spanaway helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Spanaway are both $4,657, found in the 98387 zip code.
Property Tax Assessment Values Across Spanaway, Washington
Source: Ownwell
$21,400
$1,254,100
$2,486,800
Average Spanaway Assessed Value
$412,000
Average Pierce County Assessed Value
$465,900
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Spanaway, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98387 | $185,600 | $352,300 | $412,000 | $465,000 | $533,700 |
Source: Ownwell
$1,148
Average Spanaway Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Spanaway, Washington
In Spanaway, located in Pierce County, WA, property tax bills are calculated based on the assessed value of the home and the local tax rate. The median home price in Spanaway is $412,000. Homeowners in this area experience property tax bills ranging from $3,844 at the 25th percentile to $5,995 at the 90th percentile. Factors influencing these tax bills include the property's assessed value, local levies, and special assessments. Compared to the national median property tax rate of 0.99%, Spanaway's property taxes can significantly impact homeowners. High property taxes can strain family budgets, making it essential to ensure that homes are assessed fairly. Ownwell provides expert property tax appeal and exemption services to help homeowners reduce their tax burdens. By analyzing your property's assessed value and comparing it to market conditions, Ownwell's consultants can identify discrepancies and file appeals on your behalf. This professional assistance can lead to substantial savings, ensuring you only pay your fair share.
Average Spanaway Tax Bill
$4,657
Average Pierce County Tax Bill
$4,693
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Spanaway, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98387 | $908 | $3,844 | $4,657 | $5,269 | $5,995 |
Source: Ownwell
$1,148
Average Spanaway Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | August 26 |
| Tax Bill | |
| Issued | February 10 |
| Due Date #1 | April 30 |
| Due Date #2 | October 31 |
Links | |
|---|---|
| Pierce Tax Assessor | |
| Phone | (253) 798-6111 |
| Website | atip.piercecountywa.gov |
| pcatr@piercecountywa.gov | |
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