Colbert, Washington Property Taxes
The median property tax rate in Colbert, WA is 0.88%, aligning with the state median but still lower than the national median of 0.99%. With the median home value in Colbert at $523,600, the typical annual property tax bill reaches $4,576, significantly higher than the national median of $2,690. Property taxes in Colbert are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Colbert's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Colbert or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Colbert, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$4,608
$4,501
$1,148
Average Colbert, Washington Tax Savings
Ownwell’s Colbert Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Colbert with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Colbert to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Colbert. 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 Colbert, Washington
Property taxes in Colbert, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Colbert is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Colbert set these rates annually, and they can vary significantly across different neighborhoods. Each year, Colbert 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 Colbert's effective property tax rate to other counties in Washington and the national median. For comparison, the zip code 99005 has both the highest and lowest median property tax rate of 0.88%. Understanding how these cities compare with Colbert provides valuable insights into the varying tax landscape across Spokane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Colbert Tax Rate
0.88%
Average Spokane County Tax Rate
0.93%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Colbert, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99005 | 0.78% | 0.84% | 0.88% | 0.91% | 0.95% |
Source: Ownwell
$1,148
Average Colbert Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Colbert, Washington
In Colbert, Washington, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 Spokane County Assessor 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 Colbert, 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 median home price in Colbert is $523,600, with tax bills ranging from $3,731 at the 25th percentile to $7,667 at the 90th percentile. The zip code 99005 has both the highest and lowest median tax bill at $4,576. Being aware of these valuation processes in Colbert helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Colbert Assessed Value
$523,600
Average Spokane County Assessed Value
$369,800
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Colbert, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99005 | $357,000 | $433,200 | $523,600 | $682,400 | $878,400 |
Source: Ownwell
$1,148
Average Colbert Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Colbert, Washington
In Colbert, located in Spokane County, WA, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county assessor and reflects the market value of the property. The tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $523,600, homeowners in Colbert can expect varying tax bills. The 25th percentile tax bill is around $3,731, while the 75th percentile tax bill reaches approximately $5,902, and the 90th percentile tax bill can be as high as $7,667. These tax bills can significantly impact homeowners, especially when they fall on the higher end of the spectrum. This is where Ownwell steps in to help. By providing expert property tax appeal and exemption services, Ownwell can assist homeowners in Colbert in potentially reducing their tax bills. Our team reviews property assessments and identifies discrepancies that could lead to lower taxes, ensuring that homeowners only pay their fair share.
Average Colbert Tax Bill
$4,576
Average Spokane County Tax Bill
$3,417
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Colbert, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99005 | $2,811 | $3,731 | $4,576 | $5,902 | $7,667 |
Source: Ownwell
$1,148
Average Colbert Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | July 1 |
| Tax Bill | |
| Issued | February 10 |
| Due Date #1 | April 30 |
| Due Date #2 | October 31 |
Links | |
|---|---|
| Spokane Tax Assessor | |
| Phone | (509) 477-3698 |
| Website | cp.spokanecounty.org |
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