Average Tax Assessment in Benton County
Real Estate Values and Property Tax Valuation in Benton County, Washington
Benton County has a total of 63,322 properties with a cumulative value of $17.6B, representing 1.54% of all real estate value in Washington. Property taxes in Benton County totaled $188.8M, with an average of $2,994 paid by homeowners, which is lower than the state average of $4,796. The average property tax rate in Benton County is 1.07%, higher than the state average of 1.01%. Properties are typically valued for tax purposes based on their market value.
The property tax timeline in Washington begins on January 1st when the property valuation date is set. Property value notices are issued from May to December and the property tax appeal deadline is July 1st or 30-60 days after the notice is issued. Finally, property tax bills are issued on February 14th.
Updated November 01, 2023
| Important Links | |
|---|---|
| Benton Recorder | (765) 884-1630 |
| Benton Treasurer (Tax Collector) | (479) 271-1040 |
| Benton Assessor | (320) 968-5019 |
| Benton Assessor | (319) 472-5211 |
| Important Dates | |
|---|---|
| Property Valuation Date: | January 1st |
| Property Value Notices Issued: | May - December |
| Property Tax Appeal Deadline: | July 1st or 30-60 days after notice |
| Property Tax Bills Issued: | February 14th |
| Real Property Tax Bill Due (1st of #): | April 30th |
| Real Property Tax Bill Due (2nd of #): | October 31st |
| Available Exemptions | |
|---|---|
| Senior | Available |
| Disabled | Available |
| Homestead | Not Available |
| Veteran | Available |
| Charitable | Available |
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Real Estate Statistics in Benton County
Residential Property Taxes by Cities in Benton County
Benton County has an average property tax rate of 1.07%, which is lower than the national average of 1.08%. This rate is relatively low compared to other counties in the state of Washington. Property taxes in Benton County are collected from all cities and towns within the county. The effective property tax rate varies across the cities, with West Richland having the highest rate at 1.26% and Kennewick having the lowest rate at 1%. This means that property owners in West Richland will pay more in taxes than those in Kennewick. Property taxes in Benton County are used to fund local government services such as schools, police, and fire departments. The total property taxes collected in Benton County in 2023 was estimated to be $188.8 million.
Overall, Benton County has a relatively low property tax rate compared to other counties in the state of Washington. However, the effective property tax rate does vary across the cities, with West Richland having the highest rate and Kennewick having the lowest rate. Property taxes are an important source of revenue for local governments and are used to fund essential services. Property owners in Benton County should be aware of the effective property tax rate in their city and plan accordingly.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Benton County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Benton City | $69,312 | $136,018 | $200,590 | $276,210 | $372,524 |
| Grandview | $87,069 | $139,878 | $201,185 | $289,205 | $390,598 |
| Kennewick | $106,720 | $185,635 | $248,830 | $324,810 | $432,860 |
| Prosser | $76,677 | $139,052 | $201,745 | $286,635 | $409,929 |
| Richland | $163,980 | $227,755 | $290,470 | $376,632 | $479,479 |
| West Richland | $95,886 | $214,680 | $299,140 | $402,400 | $503,494 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Benton County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Benton City | $551 | $1,417 | $2,178 | $3,021 | $4,109 |
| Grandview | $843 | $1,545 | $2,344 | $3,377 | $4,406 |
| Kennewick | $882 | $1,876 | $2,492 | $3,259 | $4,459 |
| Prosser | $555 | $1,626 | $2,480 | $3,483 | $4,935 |
| Richland | $1,670 | $2,494 | $3,193 | $4,123 | $5,256 |
| West Richland | $1,120 | $2,718 | $3,886 | $5,070 | $6,363 |
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Benton City | 0.79% | 1.04% | 1.09% | 1.09% | 1.10% |
| Grandview | 0.97% | 1.10% | 1.17% | 1.17% | 1.13% |
| Kennewick | 0.83% | 1.01% | 1.00% | 1.00% | 1.03% |
| Prosser | 0.72% | 1.17% | 1.23% | 1.22% | 1.20% |
| Richland | 1.02% | 1.10% | 1.10% | 1.09% | 1.10% |
| West Richland | 1.17% | 1.27% | 1.30% | 1.26% | 1.26% |
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Real Estate Values in Benton County
The median home price in Benton County, Washington decreased by 3.03% from October 2022 to October 2023, from $412.5K to $400.0K. This decrease in home prices was accompanied by an increase in home inventory, from 762 homes in October 2022 to 812 homes in October 2023. This suggests that the housing market in Benton County is becoming more competitive, with more homes available for buyers to choose from.
Average Home Value in Benton County, Washington
Last updated: November 2023
Percent Change in Total Home Sales in Benton County
Last updated: November 2023
Percent Change in New Home Listings in Benton County
Last updated: November 2023
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Mortgage Rates in Benton County
Benton County has a total of $7.5 billion in outstanding home mortgage loans, representing 31.5 thousand individual loans. This is a significant amount of money, representing a large portion of the total home value in the county. The median mortgage rate in Benton County varies significantly across cities, with Grandview having the highest rate at 4.5%, and West Richland having the lowest rate at 3.89%. This variation in rates can have a significant impact on the affordability of a home loan, and can be a major factor in deciding where to purchase a home. Overall, Benton County has a large amount of outstanding home mortgage loans, and the variation in rates across cities can have a major impact on the affordability of a home loan.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Benton County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Benton City | $57,632 | $97,021 | $165,290 | $262,384 | $343,762 |
| Grandview | $72,211 | $84,192 | $142,627 | $233,962 | $362,310 |
| Kennewick | $77,368 | $116,593 | $187,332 | $274,241 | $356,877 |
| Prosser | $68,572 | $106,885 | $170,233 | $259,457 | $358,404 |
| Richland | $80,226 | $127,731 | $207,576 | $298,177 | $391,410 |
| West Richland | $88,474 | $137,885 | $213,279 | $303,225 | $392,681 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Benton County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Benton City | 2.90% | 3.38% | 3.95% | 4.75% | 6.14% |
| Grandview | 3.20% | 3.64% | 4.50% | 5.72% | 6.14% |
| Kennewick | 2.90% | 3.42% | 3.93% | 4.62% | 5.90% |
| Prosser | 2.90% | 3.41% | 4.00% | 4.88% | 6.15% |
| Richland | 2.90% | 3.31% | 3.91% | 4.60% | 5.81% |
| West Richland | 2.90% | 3.38% | 3.89% | 4.50% | 5.88% |
Housing Expenses in Benton County, Washington
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