Steptoe, Washington Property Taxes
The median property tax rate in Steptoe, WA is 1.21%, considerably higher than both the national median of 0.99% and Washington state's median of 0.88%. With the median home value in Steptoe, the typical annual property tax bill reaches $618, which is significantly lower than the national median of $2,690. Property taxes in Steptoe 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 Steptoe'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 Steptoe 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
Steptoe, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$617
$573
Ownwell’s Steptoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Steptoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Steptoe 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 Whitman County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Steptoe, Washington
Property taxes in Steptoe, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Steptoe is 0.82%, which is lower than both the Washington state median of 0.93% and the U.S. national median of 0.99%. Local government entities within Steptoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Steptoe 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 Steptoe's effective property tax rate to other counties in Washington and the national median. For comparison, the 99174 zip code has the highest median property tax rate of 0.82%, while the 99111 zip code has the lowest median tax rate of 0.82%. Understanding how these areas compare with Steptoe 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 Steptoe Tax Rate
1.21%
Average Whitman County Tax Rate
1.48%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Steptoe, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99111 | 0.86% | 0.99% | 1.21% | 1.21% | 1.21% |
| 99174 | 1.21% | 1.21% | 1.21% | 1.21% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Steptoe, Washington
In Steptoe, 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 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 Steptoe, 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 Steptoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 99174 has both the highest and lowest median tax bill, valued at $619.
Average Steptoe Assessed Value
$51,010
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 Steptoe, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99111 | $4,710 | $4,710 | $4,710 | $115,197 | $181,489 |
| 99174 | $50,349 | $50,872 | $51,148 | $56,460 | $65,832 |
Source: Ownwell
Property Tax Bills Across Steptoe, Washington
In Steptoe, located in Whitman County, WA, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county assessor and reflects the property's market value. The tax rate in Steptoe is applied to this assessed value to calculate the annual property tax bill. Several factors influence the final tax bill, including the property's location, the local tax rate, and any applicable exemptions or deductions. For homeowners in Steptoe, the property tax bill can vary significantly. At the 25th percentile, the tax bill is around $468, while at the 75th percentile, it rises to approximately $731. For those at the 90th percentile, the tax bill can reach up to $1,138. These figures highlight the range of property tax liabilities homeowners may face. Compared to the national median property tax rate of 0.99%, Steptoe's property tax rates and bills offer a unique perspective on how local factors influence overall tax obligations.
Average Steptoe Tax Bill
$618
Average Whitman County Tax Bill
$1,573
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Steptoe, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99111 | $57 | $57 | $57 | $906 | $1,416 |
| 99174 | $610 | $616 | $619 | $684 | $797 |
Source: Ownwell