Marcus, Washington Property Taxes
The median property tax rate in Marcus, WA is 0.88%, aligning with the state median but still lower than the national median of 0.99%. With a median home value of $98,097, the typical annual property tax bill in Marcus amounts to $756, which is significantly below the national median of $2,690. Property taxes in Marcus are determined based on the assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Marcus's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're located in the heart of Marcus or its surrounding areas, familiarizing yourself with the local property tax structure will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marcus, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$863
$801
Ownwell’s Marcus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marcus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marcus 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 Marcus, Washington
Property taxes in Marcus, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marcus is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Marcus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marcus 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 Marcus's effective property tax rate to other counties in Washington and the national median. For comparison, the 99151 zip code has the same median property tax rate of 0.88%. Understanding how these cities compare with Marcus 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 Marcus Tax Rate
0.88%
Average Stevens County Tax Rate
0.88%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marcus, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99151 | 0.17% | 0.82% | 0.88% | 0.97% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Marcus, Washington
In Marcus, 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 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 Marcus, 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 in Marcus is $756 in the 99151 zip code, while the lowest is also $756 in the same zip code. 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 Marcus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Marcus Assessed Value
$98,097
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 Marcus, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99151 | $52,883 | $70,792 | $98,097 | $121,858 | $159,094 |
Source: Ownwell
Property Tax Bills Across Marcus, Washington
In Marcus, Stevens County, 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 then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in Marcus is $98,097. Homeowners can expect their tax bills to vary, with the 25th percentile at $467 and the 75th percentile reaching $1,167. The 90th percentile tax bill can go up to $1,514. Several factors influence these calculations, including the home's market value, any applicable exemptions, and the specific tax rate set by local taxing authorities. For homeowners, these property taxes fund essential services such as public schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, the tax bills in Marcus may seem relatively manageable, but they still represent a significant expense that homeowners must budget for annually.
Average Marcus Tax Bill
$756
Average Stevens County Tax Bill
$1,378
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Marcus, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99151 | $145 | $467 | $756 | $1,167 | $1,514 |
Source: Ownwell