Lopez Island, Washington Property Taxes
The median property tax rate in Lopez Island, WA is 0.64%, notably lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Lopez Island, the typical annual property tax bill reaches $4,268, surpassing the national median of $2,690. Property taxes in Lopez Island are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lopez Island'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 Lopez Island or another part of San Juan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lopez Island, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$4,376
$4,061
$1,148
Average Tax Savings
Ownwell’s Lopez Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lopez Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lopez Island 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 Lopez Island. 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 Lopez Island, Washington
Property taxes in Lopez Island, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lopez Island is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Lopez Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lopez Island 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 Lopez Island's effective property tax rate to other counties in Washington and the national median. For comparison, the zip code 98261 has both the highest and lowest median property tax rate of 0.64%. Understanding how these values compare with Lopez Island provides valuable insights into the varying tax landscape across San Juan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lopez Island Tax Rate
0.64%
Average San Juan County Tax Rate
0.62%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lopez Island, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98261 | 0.51% | 0.63% | 0.64% | 0.65% | 0.67% |
Source: Ownwell
$1,148
Average Lopez Island Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lopez Island, Washington
In Lopez Island, 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 San Juan 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 Lopez Island, 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 Lopez Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest and lowest median tax bill in Lopez Island are both $4268, found in the zip code 98261. The median home price is $683,810, with tax bills ranging from $2,693 at the 25th percentile to $9,602 at the 90th percentile.
Property Tax Assessment Values Across Lopez Island, Washington
Source: Ownwell
$390,160
$754,090
$1,118,020
Average Lopez Island Assessed Value
$683,810
Average San Juan County Assessed Value
$691,520
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lopez Island, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98261 | $279,206 | $451,990 | $683,810 | $1,051,580 | $1,541,380 |
Source: Ownwell
$1,148
Average Lopez Island Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lopez Island, Washington
In Lopez Island, located in San Juan County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in this area is $683,810. Homeowners are subject to a median property tax rate that can produce a tax bill ranging from $2,693 at the 25th percentile to $9,602 at the 90th percentile. Factors influencing the tax bill include the property's assessed value, local tax rates, and any exemptions for which the homeowner may qualify. These taxes fund essential public services like schools, emergency services, and infrastructure. Ownwell helps homeowners in Lopez Island potentially save on their property tax bills by providing expert property tax appeal and exemption services. Our team reviews your property’s assessed value and identifies discrepancies or opportunities for exemptions. By appealing inaccurate assessments or securing applicable exemptions, Ownwell can significantly reduce your annual property tax burden, ensuring you only pay your fair share.
Average Lopez Island Tax Bill
$4,268
Average San Juan County Tax Bill
$4,068
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Lopez Island, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98261 | $1,384 | $2,693 | $4,268 | $6,606 | $9,602 |
Source: Ownwell
$1,148
Average Lopez Island Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | July 1 |
| Tax Bill | |
| Issued | February 10 |
| Due Date #1 | April 30 |
| Due Date #2 | October 31 |
Links | |
|---|---|
| San Juan Tax Assessor | |
| Website | parcel.sanjuanco.com |
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