What You’ll Pay in Property Taxes in Edmonds
Property taxes in Edmonds are generally in line with the state average, typically falling between 0.8%–1.2% annually. The typical property tax rate in Edmonds is around 1.0%. To put this in perspective, here’s a quick chart showing estimated annual property taxes based on home value:
| Home Value | Estimated Annual Property Tax |
|---|---|
| $300,000 | $3,000 |
| $500,000 | $5,000 |
| $750,000 | $7,500 |
| $1,000,000 | $10,000 |
Keep in mind that property tax rates can vary slightly based on the specific neighborhood and any special assessments. It’s always a good idea to get an official estimate from the county assessor’s office when budgeting for a new home purchase.
How HOA Fees Work in Edmonds
HOA stands for Homeowners Association. When you purchase a home in a community with an HOA, you automatically become a member and are required to pay monthly, quarterly, or annual dues. These fees go toward maintaining and enhancing the common areas and amenities in the neighborhood.
In Edmonds, HOA fees often cover services like:
- Landscaping and lawn care for common areas
- Community pool and/or fitness center maintenance
- Trash collection and recycling
- Exterior building maintenance (for condos and townhomes)
- Neighborhood security or patrols
- Clubhouse or meeting space upkeep
The exact amenities and services covered will vary by community. Some HOAs in Edmonds also include irrigation or xeriscaping services to help homeowners minimize water usage and maintain attractive landscaping.
Typical Monthly HOA Costs
In Edmonds, you can expect to pay anywhere from $100 to $500 per month in HOA dues, with the average falling around $250/month. Luxury communities with extensive amenities like golf courses or guarded gates will be on the higher end of that range.
| Neighborhood Type | Typical Monthly HOA Fee |
|---|---|
| Modest older development with basic amenities | $100 – $200 |
| Average suburban community with pool and clubhouse | $200 – $350 |
| Luxury neighborhood with gated entry and golf course | $400 – $500+ |
Here’s an example of how your total monthly costs could break down:
| Expense | Monthly Cost |
|---|---|
| Mortgage (on $500k home with 20% down) | $2,100 |
| Property tax (1% annually) | $417 |
| HOA fee | $250 |
| Total | $2,767 |
Most cost-effective setup: Neighborhoods with fewer amenities tend to have lower HOA fees, like $100–$200/month. You’ll still benefit from maintained common areas and trash service without the high fees of luxury upgrades.
Hidden or Seasonal Fees to Expect
On top of regular monthly dues, there are some surprising local fees in Edmonds to watch out for:
- One-time move-in fees ($200-500)
- Parking permit fees for residents and guests
- Pet registration fees (usually $25-50 annually)
- Bulk trash or large item pickup surcharges
- Lawn care surcharges for excess water usage
In summer months, irrigation surcharges for homeowners in Edmonds can add up to $50/month. Some neighborhoods also charge seasonal assessments for special projects like re-paving or updating the community pool.
Are These Costs Worth It?
It’s a common question: Is paying HOA fees really worth it? On one hand, you’re getting tangible services and amenities in return, like lawn care, snow removal, and access to a well-maintained pool or fitness center. HOAs also help protect property values by enforcing community standards and keeping the neighborhood looking tidy.
However, you’re also giving up some freedom and flexibility. HOAs often have strict rules about exterior paint colors, landscaping, parking, and what you can build on your property. Some people chafe at these restrictions.
Ultimately, it’s a personal decision. In Edmonds, HOA homes often retain higher resale value, especially in communities with premium amenities. But you’ll need to weigh the tradeoffs of cost and control to decide if it’s right for your lifestyle.
FAQs About Property Tax and HOA in Edmonds
- How much is the average HOA in Edmonds?
The average HOA fee in Edmonds is around $250/month. Fees can range from $100/month in modest older neighborhoods up to $500+/month for luxury communities with extensive amenities. - Can your HOA fees increase?
Yes, HOA fees can increase over time to keep up with inflation, rising maintenance costs, and any upgrades or additions to amenities. However, the HOA board must follow proper procedures to raise fees, including sending advance notice and holding a vote if required. - Do you pay both property tax and HOA?
Yes, property taxes and HOA fees are separate expenses. Your property taxes go to the county and pay for public services like schools and road maintenance. HOA fees are paid to your homeowners association and cover neighborhood-specific amenities and upkeep. You’ll need to budget for both when purchasing a home. - How do property tax rates compare between neighboring cities?
Property tax rates in the Edmonds area are fairly consistent, typically ranging from 0.8% to 1.2% of assessed value. Rates in nearby cities like Lynnwood and Mountlake Terrace are comparable. You can always check with the county assessor for exact current rates. - Is an HOA fee worth it for new homeowners?
It depends on your budget and lifestyle preferences. HOA fees can provide valuable amenities and services that make homeownership more convenient. But they also come with restrictions and long-term costs. Consider what’s included, crunch the numbers, and weigh the pros and cons before deciding if an HOA home is right for you.
Final Cost Insights for Edmonds Homeowners
When budgeting for homeownership in Edmonds, plan on paying around 1% of your home’s value in property taxes each year, plus $100-$500 per month in HOA fees if your neighborhood has an association. These costs cover important services and amenities, but they can add up over time.
To get a full picture of what housing really costs in Edmonds, look beyond the sticker price. Factor in property taxes, insurance, HOA dues, and any special assessments or seasonal fees. Don’t forget to budget for ongoing maintenance and repairs as well.
If you’re considering buying a home in Edmonds, it’s wise to explore cost breakdowns for a few different neighborhoods and HOAs. Compare what’s included and what restrictions apply. Run the numbers to see how fees could impact your monthly budget and long-term savings goals. By doing your homework upfront, you’ll be better prepared to find the right home at the right price.