Bow, Washington Property Taxes
The median property tax rate in BOW, WA is 0.84%, slightly below the state median of 0.88% but still higher than the national median of 0.99%. With a median home value of $680,800 in BOW, the typical annual property tax bill amounts to $5,620, significantly exceeding the national median of $2,690. Property taxes in BOW are calculated based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding BOW'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 BOW or another part of Skagit County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bow, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$5,719
$5,307
$1,148
Average Tax Savings
Ownwell’s BOW Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BOW with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BOW 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 BOW. 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 Bow, Washington
Property taxes in BOW, Washington, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in BOW is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within BOW set these rates annually, and they can vary significantly across different neighborhoods. Each year, BOW 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 BOW's effective property tax rate to other counties in Washington and the national median. For comparison, the 98232 zip code has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with BOW 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 Bow Tax Rate
0.84%
Average Skagit County Tax Rate
0.86%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bow, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98232 | 0.75% | 0.79% | 0.84% | 0.88% | 0.89% |
Source: Ownwell
$1,148
Average Bow Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Bow, Washington
In BOW, 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 Skagit County 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 BOW, 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 BOW helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in BOW are both $5,620, located in the 98232 zip code.
Average Bow Assessed Value
$680,800
Average Skagit County Assessed Value
$473,200
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bow, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98232 | $372,140 | $492,875 | $680,800 | $948,875 | $1,211,610 |
Source: Ownwell
$1,148
Average Bow Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Bow, Washington
In BOW, Skagit County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $680,800, homeowners in BOW can expect tax bills to range significantly. The 25th percentile tax bill is around $3,993, while those in the 75th percentile can see bills as high as $7,705. At the 90th percentile, tax bills can reach up to $9,978. These tax bills can place a substantial financial burden on homeowners. This is where Ownwell steps in to help. By leveraging their expertise in property tax appeals and exemptions, Ownwell can assist homeowners in ensuring their property is assessed fairly, potentially lowering their tax bills. This service can lead to significant savings, making homeownership more affordable.
Average Bow Tax Bill
$5,620
Average Skagit County Tax Bill
$4,058
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Bow, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98232 | $2,472 | $3,993 | $5,620 | $7,705 | $9,978 |
Source: Ownwell
$1,148
Average Bow 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 | |
|---|---|
| Skagit Tax Assessor | |
| Website | skagitcounty.net |
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