You can calculate property tax through the use of the mill levy or millage tax and the asserted property value. The mill levy is the tax rate levied on your property value while the asserted property value is the yearly estimation of your property’s market value. To calculate the property tax, you multiply the two together. You can use Smart Asset to help calculate your property tax.
How do you find out how much your property taxes are?
You can find out how much your property taxes are by multiplying the assessed value of your property by the total tax rate that applies to that property.
How much are property taxes in Seattle Washington?
The average property tax in King County, where Seattle is located, is 1.01% while the average for the state is 1.06%. In Washington State, property taxes are limited by laws regarding the amount homeowners can be taxed and the amount those taxes can increase yearly.
What will my property taxes be?
Your property taxes can vary depending on the market value of your property for a given year and the tax rate within the county it’s situated in.