Seattle, Washington Property Taxes
The median property tax rate in Seattle, WA is 0.66%, which is notably lower than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $2,181,500 in Seattle, the typical annual property tax bill amounts to $14,489, far exceeding the national median of $2,690. Property taxes in Seattle 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 Seattle'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 Seattle 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
Seattle, Washington Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,760
$612
$1,148
Average Seattle, Washington Tax Savings
Ownwell’s Seattle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seattle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seattle 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 Seattle. 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 Seattle, Washington
Property taxes in Seattle, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seattle is 0.66%, lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Seattle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seattle 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 Seattle's effective property tax rate to other counties in Washington and the national median. For comparison, the 98177 zip code has the highest median property tax rate of 0.66%, while the 98177 zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Seattle 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.
Average Seattle Tax Rate
0.66%
Average Snohomish County Tax Rate
0.79%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seattle, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98177 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
$1,148
Average Seattle Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Seattle, Washington
In Seattle, 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 Seattle, 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 median home price in Seattle is $2,181,500, with tax bills ranging from $14,266 at the 25th percentile to $16,820 at the 90th percentile. The highest and lowest median tax bills are both in the 98177 zip code, amounting to $14,489. 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 Seattle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Seattle Assessed Value
$2,181,500
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 Seattle, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98177 | $2,127,820 | $2,147,950 | $2,181,500 | $2,401,050 | $2,532,780 |
Source: Ownwell
$1,148
Average Seattle Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Seattle, Washington
Property tax bills in Seattle, located in Snohomish County, are calculated based on the assessed value of your property and the local tax rate. With a median home price of $2,181,500, homeowners in Seattle can expect significant tax bills. The tax bill at the 25th percentile stands at $14,266, while those at the 75th percentile reach $15,946. The highest median tax bill recorded in the area is $14,489 in the 98177 zip code. Several factors influence your property tax bill, including property assessments, local tax rates, and any applicable exemptions. These elements combined determine the financial burden on homeowners, often resulting in bills that can be higher than the national median property tax rate of 0.99%. Ownwell can assist homeowners in Seattle by reviewing their property assessments and identifying potential errors or opportunities for exemptions. By appealing inaccurate assessments and ensuring all eligible exemptions are applied, Ownwell helps reduce property tax bills, providing significant savings for homeowners.
Average Seattle Tax Bill
$14,489
Average Snohomish County Tax Bill
$5,180
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Seattle, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98177 | $14,133 | $14,266 | $14,489 | $15,946 | $16,820 |
Source: Ownwell
$1,148
Average Seattle Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | August 20 |
| Tax Bill | |
| Issued | February 10 |
| Due Date #1 | April 30 |
| Due Date #2 | October 31 |
Links | |
|---|---|
| Snohomish Tax Assessor | |
| Phone | (425) 388-3433 |
| Website | www.snoco.org |
| Contact.Assessor@snoco.org | |
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