Example of Ferry County Property Tax Calculation
Ferry County property tax is calculated based on the assessed value of the property. Here's an example of how it works:
First, the county assessor evaluates the property and determines its market value. Let's say the assessed value of a property in Ferry County is $150,000.
Next, the assessor applies the county's current tax rate to the assessed value. For this example, let's say the tax rate is 1.5%.
To calculate the property tax, multiply the assessed value by the tax rate.
$150,000 (assessed value) x 0.015 (tax rate) = $2,250 (property tax)
So, for a property valued at $150,000 in Ferry County, the property tax would be $2,250.
It's important to note that property tax rates and assessed values can vary from county to county and year to year. Additionally, there may be exemptions or deductions available that can affect the final amount of property tax owed.
If you want appeal your property tax assessment - contact your local tax assessor.
Ferry County Property Tax Rates
The following table lists the Property Tax rates for Ferry County in US dollars per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Ferry County | $1.39 |
| City of Republic | $1.34 |
| City of Kettle Falls | $1.51 |
| Town of Northport | $1.88 |
Please note that these rates are subject to change and may vary based on specific property characteristics and location. For further information or assistance, consult a qualified tax advisor.
Who sets property tax rates in Ferry County ?
In Ferry County, property tax rates are set by the Board of County Commissioners. They typically do this during their annual budget process, which takes place in the fall. The property tax rate is then applied to the assessed value of each property in the county in order to determine the amount of property tax owed.
Homestead exemptions in Ferry County ?
In Ferry County, Washington, there are several county-specific Homestead exemptions and deductions available to eligible individuals. To make it easier for you to understand, the following table provides a breakdown of the exemptions, eligibility requirements, amounts, and additional notes:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Senior Citizen and Disabled Persons Exemption | Must be 61 years of age or older or disabled | Up to $60,000 of assessed value | Must apply annually |
| Disabled Veterans Exemption | Must have served in the armed forces and have a disability rating of at least 10% | Up to $90,000 of assessed value | Must apply annually |
| Surviving Spouse or Minor Child of a Deceased Veteran Exemption | Must be the un-remarried surviving spouse or minor child of a deceased veteran | Up to $60,000 of assessed value | Must apply annually |
| Additional Exemption for Veterans | Must have served in the armed forces during a period of war or national emergency | $3,000 of assessed value | Must apply annually |
| Current Use Assessment | Must have at least five acres of land used for agricultural or timber production | Reduced assessment rate | Must apply annually |
It's important to note that these exemptions and deductions may change from year to year, and it's essential to check with the Ferry County Assessor's Office to confirm eligibility and application requirements.
When is Ferry County Property Tax due ?
Ferry County Property Tax is typically due on April 30th of each year. Property owners in Ferry County have several payment methods available to them, including:
Payment Methods
| Method | Description |
|---|---|
| Online | Property owners can pay their property taxes online through the Ferry County Treasurer's website. They can use a credit or debit card, or an electronic check. |
| Property owners can also choose to mail in their payment. They must make sure their payment is postmarked by the due date to avoid late fees or penalties. | |
| In Person | Property owners can make their payment in person at the Ferry County Courthouse. The Treasurer's office is open from 9am to 4:30pm, Monday through Friday. |
| Drop Box | Property owners can also use the drop box located outside of the Ferry County Courthouse to submit their payment. |
It's important for property owners to remember that if their payment is not received or postmarked by April 30th, they may be subject to late fees or penalties. They should contact the Ferry County Treasurer's office if they have any questions or concerns about their property taxes.
If you have more questions - contact your local tax collector.
How is Ferry County Property Tax penalty calculated ?
Ferry County Property Tax Penalty Calculation
When a property owner in Ferry County fails to pay their property taxes by the due date, a penalty is applied to the unpaid balance. The penalty is calculated as a percentage of the delinquent taxes, compounded monthly until the balance is paid in full. Here's an example of how the penalty is calculated:
- A property owner in Ferry County owes $2,000 in property taxes for the year 2021.
- The due date for the taxes is April 30, 2021, but the property owner fails to pay on time.
- On May 1, 2021, a penalty of 1% is added to the unpaid balance, making the total owed $2,020.
- If the taxes remain unpaid by June 1, 2021, an additional penalty of 1% is added to the new balance of $2,020, making the total owed $2,040.40.
- The penalty continues to compound at a rate of 1% per month until the balance is paid in full.
It's important to note that the penalty is in addition to any interest that may accrue on the unpaid balance. In Ferry County, interest is charged at a rate of 1% per month on the unpaid balance, starting on May 1, 2021.
To avoid penalty and interest charges, property owners in Ferry County should make sure to pay their property taxes on time. If you have any questions about your property tax bill or penalty calculation, contact the Ferry County Treasurer's Office for assistance.
We recommend contacting the Ferry County Tax Office or a local tax professional for the most up-to-date and accurate information.