Woodway, Washington Property Taxes
The median property tax rate in Woodway, WA is 0.66%, considerably lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Woodway, the typical annual property tax bill reaches $13,365, significantly exceeding the national median of $2,690. Property taxes in Woodway are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Woodway'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 Woodway 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
Woodway, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$13,466
$12,496
$1,148
Average Tax Savings
Ownwell’s Woodway Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodway with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodway 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 Woodway. 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 Woodway, Washington
Property taxes in Woodway, Washington, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Woodway is 0.66%, which is lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Woodway set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodway 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 Woodway's effective property tax rate to other areas in Washington and the national median. For comparison, the 98020 zip code has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these areas compare with Woodway 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 Woodway 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 Woodway, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98020 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
$1,148
Average Woodway Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Woodway, Washington
In Woodway, 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 Woodway, 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 Woodway helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Woodway is $2,040,300, with tax bills ranging from $10,597 at the 25th percentile to $26,045 at the 90th percentile. The highest and lowest median tax bills are both in zip code 98020, amounting to $13,365.
Average Woodway Assessed Value
$2,040,300
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 Woodway, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98020 | $1,312,840 | $1,617,950 | $2,040,300 | $2,618,500 | $3,935,940 |
Source: Ownwell
$1,148
Average Woodway Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Woodway, Washington
Property tax bills in Woodway, Snohomish County, WA, are determined based on the assessed value of your property. The county assessor evaluates your property's market value and then applies the local tax rate to calculate your tax bill. Homeowners in Woodway face a median home price of $2,040,300, which significantly impacts their property taxes. For instance, the tax bill for the 25th percentile is $10,597, while those in the 75th percentile can expect to pay around $17,167. At the 90th percentile, tax bills can soar to $26,045. These figures are considerably higher than the national median property tax rate of 0.99%, reflecting the premium property values in the area. Ownwell can help homeowners navigate this financial burden by offering property tax appeal and exemption services. Our experts analyze your property's assessed value and identify opportunities to challenge inflated assessments, potentially saving you thousands on your annual tax bill. By leveraging our expertise, you can ensure you’re not overpaying and keep more of your hard-earned money.
Average Woodway Tax Bill
$13,365
Average Snohomish County Tax Bill
$5,180
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodway, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98020 | $8,331 | $10,597 | $13,365 | $17,167 | $26,045 |
Source: Ownwell
$1,148
Average Woodway 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 | |
|---|---|
| Snohomish Tax Assessor | |
| Phone | (425) 388-3433 |
| Website | www.snoco.org |
| Contact.Assessor@snoco.org | |
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