Rice, Washington Property Taxes
The median property tax rate in Rice, WA is 0.81%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Rice at $160,252, the typical annual property tax bill amounts to $1,217, falling below the national median of $2,690. Property taxes in Rice are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Gaining a thorough understanding of Rice'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 Rice or another part of Stevens County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rice, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$1,298
$1,205
Ownwell’s Rice Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rice with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rice 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 Rice, Washington
Property taxes in Rice, Washington, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Rice is 0.81%, lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Rice set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rice 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 Rice's effective property tax rate to other counties in Washington and the national median. For comparison, the 99167 zip code has both the highest and lowest median property tax rate of 0.81%. Understanding how these cities compare with Rice 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 Rice Tax Rate
0.81%
Average Stevens County Tax Rate
0.88%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rice, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99167 | 0.62% | 0.69% | 0.81% | 0.84% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Rice, Washington
In Rice, 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 Rice, 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 Rice helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 99167 has the highest and lowest median tax bill at $1,217, reflecting the consistency in property tax assessments within the area.
Average Rice Assessed Value
$160,252
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 Rice, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99167 | $58,591 | $96,826 | $160,252 | $245,827 | $345,888 |
Source: Ownwell
Property Tax Bills Across Rice, Washington
In Rice, located in Stevens County, WA, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The median home price in Rice is $160,252. The tax rate, when applied, results in varying tax bills depending on the property's assessed value and applicable exemptions. For example, homeowners in the 25th percentile pay around $714 annually, while those in the 75th percentile see bills of approximately $1,995. The top 10% of homeowners face tax bills nearing $2,803. These taxes fund essential local services such as schools, infrastructure, and emergency services. The tax rate in Rice is competitive compared to the national median property tax rate of 0.99%. For homeowners, understanding these factors is crucial for financial planning and anticipating annual expenses. The highest and lowest median tax bills in the area are both $1,217, reflecting a relatively uniform tax burden across different properties.
Average Rice Tax Bill
$1,217
Average Stevens County Tax Bill
$1,378
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Rice, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99167 | $378 | $714 | $1,217 | $1,995 | $2,803 |
Source: Ownwell