Newman Lake, Washington Property Taxes
The median property tax rate in Newman Lake, WA is 0.96%, slightly lower than the national median of 0.99% but higher than the Washington state median of 0.88%. With the median home value in Newman Lake at $400,450, the typical annual property tax bill reaches $3,868, which is significantly higher than the national median of $2,690. Property taxes in Newman Lake are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Newman Lake'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 Newman Lake or another part of Spokane County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newman Lake, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$3,844
$3,755
$1,148
Average Newman Lake, Washington Tax Savings
Ownwell’s Newman Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newman Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newman Lake 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 Newman Lake. 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 Newman Lake, Washington
Property taxes in Newman Lake, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newman Lake is 0.96%, slightly lower than the U.S. national median of 0.99%. Local government entities within Newman Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newman Lake 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 Newman Lake's effective property tax rate to other areas in Spokane County and the national median. For comparison, the zip code 99025 has both the highest and lowest median property tax rate of 0.96%. Understanding how these areas compare with Newman Lake 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 Newman Lake Tax Rate
0.96%
Average Spokane County Tax Rate
0.93%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newman Lake, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99025 | 0.81% | 0.90% | 0.96% | 0.99% | 1.09% |
Source: Ownwell
$1,148
Average Newman Lake Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Newman Lake, Washington
In Newman Lake, 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 Newman Lake, 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. Being aware of these valuation processes in Newman Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 99025 has the highest and lowest median tax bill, both at $3868.
Average Newman Lake Assessed Value
$400,450
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 Newman Lake, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99025 | $248,360 | $331,975 | $400,450 | $562,180 | $746,663 |
Source: Ownwell
$1,148
Average Newman Lake Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Newman Lake, Washington
In Newman Lake, WA, property tax bills are calculated based on the assessed value of your home, which is determined by the Spokane County Assessor's Office. The median home price in this area is $400,450, and the property tax rate is applied to this assessed value to determine your annual tax bill. Factors such as property improvements, market conditions, and neighborhood trends can influence your assessed value, impacting your tax bill. For instance, tax bills in the 25th percentile are approximately $3,140, while those in the 75th percentile can reach up to $5,208, and the 90th percentile can be as high as $6,820. Homeowners in Newman Lake may find these tax bills burdensome. Ownwell offers a solution by providing property tax appeal and exemption services, ensuring your property is fairly assessed. Our experts analyze your assessment for discrepancies and file appeals on your behalf, potentially saving you hundreds or even thousands of dollars annually. By leveraging Ownwell's expertise, you can ensure you're not overpaying on your property taxes.
Average Newman Lake Tax Bill
$3,868
Average Spokane County Tax Bill
$3,417
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Newman Lake, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99025 | $1,739 | $3,140 | $3,868 | $5,208 | $6,820 |
Source: Ownwell
$1,148
Average Newman Lake 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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