Tumtum, Washington Property Taxes
The median property tax rate in Tumtum, WA is 1.01%, slightly above the national median of 0.99% and significantly higher than the Washington state median of 0.88%. With the median home value in Tumtum, the typical annual property tax bill amounts to $1,186, which is below the national median of $2,690. Property taxes in Tumtum are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Navigating Tumtum's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Tumtum 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
Tumtum, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$1,213
$1,185
Ownwell’s Tumtum Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tumtum with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tumtum 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 Tumtum, Washington
Property taxes in Tumtum, Washington, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tumtum is 1.01%, slightly higher than the U.S. national median of 0.99%. Local government entities within Tumtum set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tumtum 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 Tumtum's effective property tax rate to other areas in Stevens County and the national median. For comparison, the 99034 zip code has the highest median property tax rate of 1.01%, while the lowest median tax rate within the same zip code is also 1.01%. Understanding how these areas compare with Tumtum 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 Tumtum Tax Rate
1.01%
Average Stevens County Tax Rate
0.88%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tumtum, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99034 | 0.80% | 0.91% | 1.01% | 1.14% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Tumtum, Washington
In Tumtum, 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's Office 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 Tumtum, 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 Tumtum helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Tumtum are both $1,186, found in zip code 99034.
Average Tumtum Assessed Value
$120,068
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 Tumtum, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99034 | $34,787 | $68,193 | $120,068 | $215,064 | $322,993 |
Source: Ownwell
Property Tax Bills Across Tumtum, Washington
In Tumtum, Stevens County, WA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Tumtum is $120,068. Tax rates in this region are applied to the assessed value, resulting in varying tax bills for homeowners. For instance, the 25th percentile tax bill is $652, while the 75th percentile reaches $2,135, and the 90th percentile can go up to $3,282. These figures illustrate the range of property tax burdens depending on property values and specific local rates. Compared to the national median property tax rate of 0.99%, Tumtum’s rates reflect the local economic environment and governmental budget needs. Homeowners in Tumtum need to be aware of these factors as they significantly impact annual financial planning. The highest and lowest median tax bills in the area are both $1,186, indicating a relatively consistent tax rate within the zip code 99034. Understanding these elements helps homeowners anticipate their property tax obligations and manage their finances accordingly.
Average Tumtum Tax Bill
$1,186
Average Stevens County Tax Bill
$1,378
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Tumtum, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99034 | $363 | $652 | $1,186 | $2,135 | $3,282 |
Source: Ownwell