Valley, Washington Property Taxes
The median property tax rate in Valley, WA is 0.93%, slightly lower than the national median of 0.99% but higher than the Washington state median of 0.88%. With the median home value in Valley, the typical annual property tax bill reaches $1,088, which is below the national median of $2,690. Property taxes in Valley are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Valley'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 Valley 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
Valley, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$1,082
$1,057
Ownwell’s Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valley 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 Valley, Washington
Property taxes in Valley, Washington, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Valley is 0.93%, slightly below the U.S. national median of 0.99%. Local government entities within Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valley 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 Valley's effective property tax rate to other areas in Washington and the national median. For comparison, the 99181 zip code has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Valley 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 Valley Tax Rate
0.93%
Average Stevens County Tax Rate
0.88%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valley, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99181 | 0.67% | 0.87% | 0.93% | 1.06% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Valley, Washington
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Valley, Stevens County, WA. The market value represents 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 county's 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 Valley, 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 Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Valley is $116,353, with the highest and lowest median tax bills both recorded at $1,088 in zip code 99181.
Average Valley Assessed Value
$116,353
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 Valley, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99181 | $40,111 | $66,027 | $116,353 | $186,413 | $280,573 |
Source: Ownwell
Property Tax Bills Across Valley, Washington
Property tax bills in Valley, Stevens County, WA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and is meant to reflect the market value of the property. Various factors such as property size, location, and condition are taken into account during this assessment. The local tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in Valley may see a range of tax bills depending on their property values. For instance, the 25th percentile tax bill is around $590, while the 75th percentile tax bill rises to approximately $1750. At the 90th percentile, homeowners could face tax bills as high as $2592. These figures highlight the variability in property tax obligations, which can significantly impact household budgets. Compared to the national median property tax rate of 0.99%, Valley's property taxes can be seen as moderate, but they still represent a substantial expense for many homeowners.
Average Valley Tax Bill
$1,088
Average Stevens County Tax Bill
$1,378
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Valley, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99181 | $298 | $590 | $1,088 | $1,750 | $2,592 |
Source: Ownwell