How can I calculate my property tax rate?

Calculating your property tax rate in Washington is relatively simple. First, you need to know the assessed value of your property, which can be found on your annual property tax statement. Once you have the assessed value, the next step is to use the property tax rate schedule in Washington. The Washington property tax rate schedule is based on the assessed value of your property. For example, properties with a value of less than $20,000 are taxed at 1.10%, while properties worth between $20,000 and $50,000 are taxed at 1.20%. Properties with an assessed value between $50,000 and $125,000 are taxed at 1.50%, and properties worth between $125,000 and $350,000 are taxed at 1.80%. Once you have your assessed value and the applicable tax rate, you can calculate your property tax rate. Simply multiply the assessed value of your property by the applicable tax rate. For example, if your assessed value was $30,000, you would multiply $30,000 by 1.20% to get your property tax rate of $360. In addition to the usual property tax rate, Washington residents may also be subject to additional taxes, such as local levies or special assessments for services. You should check with your local tax authority to find out if there are any additional taxes applicable to your property.

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