98368 Property Tax Rate

Property owners in ZIP code 98368 (Port Townsend, Washington) pay a median of $3,801/year in property taxes on homes valued at $511,900. This translates to an effective tax rate of 0.74%, which is near the Washington state average of 0.77%.

The monthly property tax burden for a median-valued home in 98368 is approximately $317, which factors into escrow payments on mortgages. This ZIP code is located within Jefferson County. This is $209 more than the Washington average of $3,592/year.

Compared to similar ZIP codes in Washington, 98368 has lower property taxes. ZIP codes with similar effective rates include 98392 (0.74%) and 99018 (0.74%).

In Port Townsend, property taxes represent approximately 5.7% of the median household income of $67,061, providing context for the relative tax burden on homeowners in this area.

Washington reassesses property at market value upon sale with no statewide cap on annual increases; Jefferson County Assessor will establish your assessed value at your purchase price. Jefferson County qualifies seniors (61+) and disabled homeowners with household income near the state threshold (approximately $40,000–$45,000) for the Senior/Disabled Property Tax Exemption, which reduces taxable assessed value. File your exemption application with the Jefferson County Assessor by March 31 to secure the tax benefit; applications received after the deadline will be processed for the following tax year.