Eliza Island, Washington Property Taxes
The median property tax rate in Eliza Island, WA is 0.70%, 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 Eliza Island at $486,968, the typical annual property tax bill reaches $3,409, surpassing the national median of $2,690. Property taxes in Eliza Island are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Eliza Island'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 Eliza Island or another part of Whatcom County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eliza Island, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$3,409
$3,163
$1,148
Average Tax Savings
Ownwell’s Eliza Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eliza Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eliza Island 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 Eliza Island. 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 Eliza Island, Washington
Property taxes in Eliza Island, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eliza Island is 0.70%, which is lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Eliza Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eliza Island 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. Understanding how Eliza Island's effective property tax rate compares to other regions in Whatcom County and the national median provides valuable insights into the varying tax landscape across the area, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eliza Island Tax Rate
0.70%
Average Whatcom County Tax Rate
0.73%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eliza Island, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
$1,148
Average Eliza Island Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Eliza Island, Washington
In Eliza Island, 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 Whatcom County Assessor 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. 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 Eliza Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Eliza Island, Washington
Source: Ownwell
$20,896
$348,565
$676,233
Average Eliza Island Assessed Value
$486,968
Average Whatcom County Assessed Value
$517,614
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eliza Island, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
$1,148
Average Eliza Island Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Eliza Island, Washington
In Eliza Island, Whatcom County, WA, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. This assessed value is then multiplied by the county's property tax rate to determine your annual tax bill. With a median home price of $486,968, homeowners in Eliza Island can expect tax bills ranging from $2,949 at the 25th percentile to $4,296 at the 90th percentile. These figures are influenced by various factors, including property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Whatcom County's rates can significantly impact homeowners. This makes it crucial for homeowners to ensure their property is accurately assessed to avoid overpaying. Ownwell assists homeowners in Eliza Island by reviewing property assessments and filing appeals if discrepancies are found. Our experts navigate the complex tax appeal process, potentially reducing your property tax bill and ensuring you only pay what is fair.
Average Eliza Island Tax Bill
$3,409
Average Whatcom County Tax Bill
$3,632
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Eliza Island, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
$1,148
Average Eliza Island 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 | |
|---|---|
| Whatcom Tax Assessor | |
| Website | property.spatialest.com |
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