Deer Park, Washington Property Taxes
The median property tax rate in Deer Park, WA is 1.12%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Deer Park, the typical annual property tax bill reaches $2,443, exceeding the national median of $2,690. Property taxes in Deer Park 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 Deer Park'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 Deer Park 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
Deer Park, Washington Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,760
Ownwell’s Deer Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Deer Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Deer Park 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 Deer Park, Washington
Property taxes in Deer Park, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Deer Park is 1.12%, higher than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Deer Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Deer Park 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 Deer Park's effective property tax rate to other counties in Washington and the national median. For comparison, the 99006 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Deer Park provides valuable insights into the varying tax landscape across Stevens County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Deer Park Tax Rate
1.12%
Average Stevens County Tax Rate
0.88%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Deer Park, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99006 | 0.95% | 1.05% | 1.12% | 1.26% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Deer Park, Washington
In Deer Park, 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 Stevens 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 Deer Park, 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. Deer Park's median home price is $213,958, with tax bills ranging from $1,659 at the 25th percentile to $4,581 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Deer Park Assessed Value
$213,958
Average Stevens County Assessed Value
$158,721
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Deer Park, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99006 | $77,563 | $140,486 | $213,958 | $302,398 | $381,653 |
Source: Ownwell
Property Tax Bills Across Deer Park, Washington
In Deer Park, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements or renovations made to the property. Homeowners in Deer Park can expect varying tax bills depending on their property's value. For example, the 25th percentile tax bill is around $1,659, while the 75th percentile tax bill reaches $3,431. The highest tax bills, at the 90th percentile, can be as much as $4,581. These figures indicate a significant range in property tax obligations, reflecting the diversity in property values within the area. Comparatively, the median tax bill in Deer Park, which is $2,443, stands above the national median property tax rate of 0.99%. This higher rate can impact homeowners by increasing their annual expenses, making it essential for them to understand and anticipate their property tax obligations.
Average Deer Park Tax Bill
$2,443
Average Stevens County Tax Bill
$1,378
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Deer Park, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99006 | $843 | $1,659 | $2,443 | $3,431 | $4,581 |
Source: Ownwell