Farmington, Washington Property Taxes
The median property tax rate in Farmington, WA is 1.59%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Farmington, the typical annual property tax bill reaches $1,272, which is below the national median of $2,690. Property taxes in Farmington are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Farmington'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 Farmington or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Farmington, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$1,305
$1,211
Ownwell’s Farmington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Farmington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Farmington 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 Farmington, Washington
Property taxes in Farmington, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Farmington stands at 1.59%, significantly higher than the U.S. national median of 0.99%. Local government entities within Farmington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Farmington 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 Farmington's effective property tax rate to other counties in Washington and the national median. For comparison, the 99128 zip code has both the highest and lowest median property tax rate in Whitman County at 1.59%. Understanding how these cities compare with Farmington provides valuable insights into the varying tax landscape across Whitman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Farmington Tax Rate
1.59%
Average Whitman County Tax Rate
1.48%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Farmington, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99128 | 0.89% | 1.18% | 1.59% | 1.87% | 1.87% |
Source: Ownwell
Property Tax Assessment Values Across Farmington, Washington
In Farmington, 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 Whitman 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. In Farmington, 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 Farmington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Farmington, the zip code with the highest median tax bill is 99128, with a median tax bill of $1,272.
Average Farmington Assessed Value
$82,057
Average Whitman County Assessed Value
$117,153
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Farmington, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99128 | $17,396 | $37,970 | $82,057 | $166,000 | $268,308 |
Source: Ownwell
Property Tax Bills Across Farmington, Washington
In Farmington, property tax bills are calculated based on the assessed value of a home, which is determined by the Whitman County Assessor's Office. The assessed value is a percentage of the property's market value. The property tax rate in Farmington is then applied to this assessed value to calculate the tax bill. Various factors influence the assessed value, including the size, location, and condition of the property. For homeowners in Farmington, the median home price is $82,057. Property tax bills can vary significantly, with the 25th percentile at $516 and the 75th percentile reaching $2,384. At the higher end, the 90th percentile tax bill can be as much as $3,550. These variations impact homeowners differently, depending on the value of their property. Compared to the national median property tax rate of 0.99%, Farmington's rates can sometimes be higher, reflecting the specific economic and property market conditions in the area. Homeowners need to be aware of these factors to manage their property tax obligations effectively.
Average Farmington Tax Bill
$1,272
Average Whitman County Tax Bill
$1,573
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Farmington, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99128 | $134 | $516 | $1,272 | $2,384 | $3,550 |
Source: Ownwell