Spokane, Washington Property Taxes
The median property tax rate in Spokane, WA is 0.90%, slightly below the national median of 0.99% but above the Washington state median of 0.88%. With a median home value of $69,610, the typical annual property tax bill in Spokane is $629, which is significantly lower than the national median of $2,690. Property taxes in Spokane are based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Spokane's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Spokane or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Spokane, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$626
$612
Ownwell’s Spokane Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spokane with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spokane to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Spokane, Washington
Property taxes in Spokane, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spokane is 0.90%, slightly lower than the U.S. national median of 0.99%. Local government entities within Spokane set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spokane estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Spokane's effective property tax rate to other counties in Washington and the national median. For comparison, the 99215 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these areas compare with Spokane provides valuable insights into the varying tax landscape across Pend Oreille County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Spokane Tax Rate
0.90%
Average Pend Oreille County Tax Rate
0.87%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spokane, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99215 | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Spokane, Washington
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Spokane, WA. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Pend Oreille County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Spokane, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the zip code 99215 has the highest median tax bill at $629, while the lowest median tax bill also stands at $629 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Spokane Assessed Value
$69,610
Average Pend Oreille County Assessed Value
$181,614
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Spokane, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99215 | $69,610 | $69,610 | $69,610 | $69,610 | $69,610 |
Source: Ownwell
Property Tax Bills Across Spokane, Washington
In Spokane, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. This assessed value is different from the market value and is used specifically for tax purposes. The tax rate, or millage rate, is then applied to this assessed value to determine your annual tax bill. Several factors influence the assessed value, including the size, location, and condition of your property, as well as recent sales of similar properties in the area. For homeowners in Spokane, the median home price is $69,610, and the median property tax bill is $629. This is significantly lower than the national median property tax rate of 0.99%. The relatively low property tax bills can be beneficial for homeowners, potentially making homeownership more affordable and attractive in the region. However, it's important to note that even small changes in assessed value or tax rates can impact your annual tax bill, so staying informed about local property tax trends is crucial.
Average Spokane Tax Bill
$629
Average Pend Oreille County Tax Bill
$1,429
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Spokane, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99215 | $629 | $629 | $629 | $629 | $629 |
Source: Ownwell