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Mill Creek, Washington Property Taxes

The median property tax rate in Mill Creek, WA is 0.85%, slightly lower than the state median of 0.88% but still higher than the national median of 0.99%. With a median home value of $971,300 in Mill Creek, the typical annual property tax bill reaches $8,120, significantly exceeding the national median of $2,690. Property taxes in Mill Creek are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence exemption. Understanding Mill Creek'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 Mill Creek 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

Mill Creek, Washington Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Average Tax Rate

0.85%

Estimate Property Tax Bill

$8,256

$7,661

SAVE WITH OWNWELL

$1,148

Average Tax Savings

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

Property taxes in Mill Creek, Washington, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Mill Creek is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Mill Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mill Creek 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 Mill Creek's effective property tax rate to other counties in Washington and the national median. For comparison, the 98012 zip code has a median property tax rate of 0.85%. Understanding how these cities compare with Mill Creek 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 Mill Creek, Washington

Source: Ownwell

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0.46%

0.68%

0.90%

Average Mill Creek Tax Rate

0.85%

Average Snohomish County Tax Rate

0.79%

Average Washington Tax Rate

0.88%

Average United States Tax Rate

0.99%

Property Tax Rates Across Mill Creek, Washington

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
980120.84%0.84%0.85%0.85%0.87%

Source: Ownwell

Property Tax Assessment Values Across Mill Creek, Washington

In Mill Creek, 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 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 Mill Creek, 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. For instance, the highest median tax bill is $8,120 in the 98012 zip code, which is also the lowest median 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 Mill Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.

Property Tax Assessment Values Across Mill Creek, Washington

Source: Ownwell

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$2,900

$1,092,200

$2,181,500

Average Mill Creek Assessed Value

$971,300

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 Mill Creek, Washington

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
98012$472,800$793,400$971,300$1,156,500$1,277,340

Source: Ownwell

Property Tax Bills Across Mill Creek, Washington

In Mill Creek, Snohomish County, WA, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine your annual property tax bill. For instance, with a median home price of $971,300, homeowners can expect varying tax bills, with the 25th percentile at $6,418 and the 75th percentile reaching $9,670. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value, impacting the final tax bill. Homeowners in Mill Creek often face higher property tax bills compared to the national median property tax rate of 0.99%. Ownwell offers property tax appeal and exemption services to help homeowners reduce their tax burdens. By analyzing your property's assessed value and comparing it to similar properties, Ownwell can identify discrepancies and file appeals on your behalf, potentially saving you thousands of dollars annually.

Property Tax Bills Across Mill Creek, Washington

Source: Ownwell

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$17

$7,253

$14,489

Average Mill Creek Tax Bill

$8,120

Average Snohomish County Tax Bill

$5,180

Average Washington Tax Bill

$4,284

Average United States Tax Bill

$2,690

Property Tax Bills Across Mill Creek, Washington

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
98012$3,935$6,418$8,120$9,670$10,699

Source: Ownwell

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