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Camano Island, Washington Property Taxes

The median property tax rate in Camano Island, WA is 0.80%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. Given the median home value in Camano Island is $398,400, the typical annual property tax bill amounts to $3,181, surpassing the national median of $2,690. Property taxes in Camano Island are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Camano 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 Camano Island 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

Camano Island, Washington Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Average Tax Rate

0.8%

Estimate Property Tax Bill

$3,187

$2,958

SAVE WITH OWNWELL

$1,148

Average Tax Savings

Ownwell’s Camano Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Camano Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Camano 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 Camano 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 Camano Island, Washington

Property taxes in Camano Island, Washington, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Camano Island is 0.80%, lower than the U.S. national median of 0.99%. Local government entities within Camano Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Camano 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 Camano Island's effective property tax rate to other areas in Snohomish County and the national median. For comparison, the 98282 zip code has a median property tax rate of 0.80%. Understanding how these cities compare with Camano Island provides valuable insights into the varying tax landscape across Snohomish County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.

Property Tax Rates Across Camano Island, Washington

Source: Ownwell

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0.46%

0.68%

0.90%

Average Camano Island Tax Rate

0.80%

Average Snohomish County Tax Rate

0.79%

Average Washington Tax Rate

0.88%

Average United States Tax Rate

0.99%

Property Tax Rates Across Camano Island, Washington

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
982820.80%0.80%0.80%0.80%0.80%

Source: Ownwell

Property Tax Assessment Values Across Camano Island, Washington

In Camano 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 Snohomish 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 Camano 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 Camano Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $3,181, found in the 98282 zip code.

Property Tax Assessment Values Across Camano Island, Washington

Source: Ownwell

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$2,900

$1,092,200

$2,181,500

Average Camano Island Assessed Value

$398,400

Average Snohomish County Assessed Value

$668,100

Average Washington Assessed Value

$482,000

Average United States Assessed Value

$244,900

Property Tax Assessment Values Across Camano Island, Washington

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
98282$398,400$398,400$398,400$398,400$398,400

Source: Ownwell

Property Tax Bills Across Camano Island, Washington

In Camano Island, located in Snohomish County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. Factors such as market conditions, property improvements, and comparable sales in the area are considered in this assessment. The median home price in Camano Island is $398,400, with property tax bills ranging from the 25th to the 90th percentile consistently at $3,181. This is significantly higher than the national median property tax rate of 0.99%, reflecting the local real estate market's influence on tax obligations. High property tax bills can strain homeowners, but Ownwell offers a solution. By leveraging expertise in property tax appeals and exemptions, Ownwell helps homeowners ensure their property is fairly assessed, potentially reducing their tax burden. Our team meticulously reviews each case, identifies discrepancies, and advocates on behalf of homeowners, aiming to secure substantial savings on property tax bills.

Property Tax Bills Across Camano Island, Washington

Source: Ownwell

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$17

$7,253

$14,489

Average Camano Island Tax Bill

$3,181

Average Snohomish County Tax Bill

$5,180

Average Washington Tax Bill

$4,284

Average United States Tax Bill

$2,690

Property Tax Bills Across Camano Island, Washington

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
98282$3,181$3,181$3,181$3,181$3,181

Source: Ownwell

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