Hamilton, Washington Property Taxes
The median property tax rate in Hamilton, WA is 0.81%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Hamilton at $196,500, the typical annual property tax bill reaches $1,600, falling below the national median of $2,690. Property taxes in Hamilton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hamilton'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 Hamilton 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
Hamilton, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$1,592
$1,477
$1,148
Average Tax Savings
Ownwell’s Hamilton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hamilton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hamilton 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 Hamilton. 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 Hamilton, Washington
Property taxes in Hamilton, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hamilton is 0.81%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Hamilton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hamilton 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 Hamilton's effective property tax rate to other counties in Washington and the national median. For comparison, the 98255 zip code has both the highest and lowest median property tax rate of 0.81%. Understanding how these areas compare with Hamilton 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 Hamilton Tax Rate
0.81%
Average Skagit County Tax Rate
0.86%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hamilton, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98255 | 0.77% | 0.80% | 0.81% | 0.82% | 0.83% |
Source: Ownwell
$1,148
Average Hamilton Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Hamilton, Washington
In Hamilton, 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 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 Hamilton, 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. The highest median tax bill in Hamilton is $1600 in the 98255 zip code, while the lowest is also $1600 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hamilton Assessed Value
$196,500
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 Hamilton, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98255 | $29,770 | $118,850 | $196,500 | $289,600 | $370,370 |
Source: Ownwell
$1,148
Average Hamilton Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Hamilton, Washington
In Hamilton, Skagit County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate. Factors such as property improvements, neighborhood changes, and market conditions can influence the assessed value. For instance, with a median home price of $196,500, homeowners can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $995, while the 75th percentile reaches $2,361, and the 90th percentile can be as high as $2,966. These tax bills can significantly impact homeowners' finances, making it essential to ensure they are fair and accurate. Ownwell offers expert property tax appeal and exemption services to help homeowners in Hamilton reduce their tax liabilities. By thoroughly reviewing property assessments and identifying potential errors or overvaluations, Ownwell can assist homeowners in saving on their property tax bills, ensuring they only pay their fair share.
Average Hamilton Tax Bill
$1,600
Average Skagit County Tax Bill
$4,058
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Hamilton, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98255 | $198 | $995 | $1,600 | $2,361 | $2,966 |
Source: Ownwell
$1,148
Average Hamilton 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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