Underwood, Washington Property Taxes
The median property tax rate in Underwood, WA is 0.87%, 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 Underwood at $515,500, the typical annual property tax bill reaches $4,373, significantly higher than the national median of $2,690. Property taxes in Underwood 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 Underwood'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 Underwood 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
Underwood, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$4,485
$4,162
Ownwell’s Underwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Underwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Underwood 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 Underwood, Washington
Property taxes in Underwood, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Underwood is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Underwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Underwood 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 Underwood's effective property tax rate to other areas in Washington and the national median. For comparison, the zip code 98651 has both the highest and lowest median property tax rate of 0.87%. Understanding how these cities compare with Underwood provides valuable insights into the varying tax landscape across Skamania County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Underwood Tax Rate
0.87%
Average Skamania County Tax Rate
0.87%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Underwood, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98651 | 0.87% | 0.87% | 0.87% | 0.87% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Underwood, Washington
In Underwood, 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 Skamania 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 Underwood, 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 Underwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 98651 has the highest median tax bill at $4,373, which also happens to be the lowest in the area.
Average Underwood Assessed Value
$515,500
Average Skamania County Assessed Value
$323,050
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Underwood, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98651 | $258,200 | $351,600 | $515,500 | $712,400 | $946,400 |
Source: Ownwell
Property Tax Bills Across Underwood, Washington
In Underwood, located in Skamania County, WA, property tax bills are determined based on the assessed value of a property and the local tax rate. The assessed value is an estimate of the property's market value, which is periodically updated by the county assessor. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and condition, as well as market trends. Homeowners in Underwood experience a range of tax bills, with the 25th percentile paying around $2,935, while those in the 75th percentile pay approximately $6,058. The highest median tax bill recorded in the area is $4,373, which is notably higher than the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Understanding how these taxes are calculated helps homeowners manage their finances and anticipate annual expenses.
Average Underwood Tax Bill
$4,373
Average Skamania County Tax Bill
$2,812
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Underwood, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98651 | $1,832 | $2,935 | $4,373 | $6,058 | $8,238 |
Source: 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 |
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