Mineral, Washington Property Taxes
The median property tax rate in Mineral, WA is 0.80%, 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 Mineral at $167,600, the typical annual property tax bill is $1,343, significantly less than the national median of $2,690. Property taxes in Mineral are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mineral'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 Mineral or another part of Thurston County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mineral, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,341
$1,244
$1,148
Average Tax Savings
Ownwell’s Mineral Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mineral with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mineral to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Mineral. 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 Mineral, Washington
Property taxes in Mineral, Washington, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mineral is 0.80%, which is lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Mineral set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mineral 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 Mineral's effective property tax rate to other counties in Washington and the national median. For comparison, the 98355 zip code has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Mineral provides valuable insights into the varying tax landscape across Lewis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mineral Tax Rate
0.80%
Average Thurston County Tax Rate
0.94%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mineral, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98355 | 0.80% | 0.80% | 0.80% | 0.80% | 0.80% |
Source: Ownwell
$1,148
Average Mineral Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Mineral, Washington
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mineral, WA. 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 Thurston 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 Mineral, 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 Mineral helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 98355 has the highest and lowest median tax bills at $1,343, reflecting the uniformity in tax assessments within the area.
Average Mineral Assessed Value
$167,600
Average Thurston County Assessed Value
$437,400
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mineral, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98355 | $167,600 | $167,600 | $167,600 | $167,600 | $167,600 |
Source: Ownwell
$1,148
Average Mineral Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Mineral, Washington
In Mineral, located in Thurston County, WA, property tax bills are determined based on the assessed value of your home, which is set by the county assessor. The median home price in this area is $167,600. Property tax rates in Mineral are relatively high compared to the national median property tax rate of 0.99%, resulting in a median tax bill of $1,343. This figure remains consistent across various percentiles, reflecting a uniform tax rate within the region. Several factors contribute to the calculation of your property tax bill, including the assessed value of your property, local tax rates, and any applicable exemptions. These taxes fund essential community services such as schools, infrastructure, and public safety, making them a crucial part of local government budgets. Ownwell can assist homeowners in Mineral by identifying potential errors in property assessments and ensuring that all applicable exemptions are applied. By appealing inaccurate assessments and optimizing for exemptions, Ownwell helps reduce property tax bills, providing significant savings for homeowners.
Average Mineral Tax Bill
$1,343
Average Thurston County Tax Bill
$4,041
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Mineral, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98355 | $1,343 | $1,343 | $1,343 | $1,343 | $1,343 |
Source: Ownwell
$1,148
Average Mineral Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | July 1 |
| Tax Bill | |
| Issued | February 10 |
| Due Date #1 | April 30 |
| Due Date #2 | October 31 |
Links | |
|---|---|
| Thurston Tax Assessor | |
| Website | tcproperty.co.thurston.wa.us |
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