Lamont, Washington Property Taxes
The median property tax rate in Lamont, WA is 1.28%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Lamont at $21,900, the typical annual property tax bill reaches $281, which is significantly lower than the national median of $2,690. Property taxes in Lamont 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 Lamont'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 Lamont 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
Lamont, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$280
$260
Ownwell’s Lamont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lamont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lamont 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 Lamont, Washington
Property taxes in Lamont, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lamont is 1.28%, which is higher than the U.S. national median of 0.99%. Local government entities within Lamont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lamont 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 Lamont's effective property tax rate to other areas in Washington and the national median. For comparison, the zip code 99017 has the highest median property tax rate of 1.28%, while the lowest median tax rate is also 1.28% in the same zip code. Understanding how these areas compare with Lamont provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lamont Tax Rate
1.28%
Average Adams County Tax Rate
1.18%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lamont, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99017 | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Lamont, Washington
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lamont, Washington. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Adams 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 Lamont, 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. For example, the median home price in Lamont is $21,900, with tax bills ranging from $281 at the 25th percentile to $281 at the 90th percentile. The highest and lowest median tax bills are both $281, found in zip code 99017. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Lamont Assessed Value
$21,900
Average Adams County Assessed Value
$142,200
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lamont, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99017 | $21,900 | $21,900 | $21,900 | $21,900 | $21,900 |
Source: Ownwell
Property Tax Bills Across Lamont, Washington
In Lamont, the property tax bill calculation is straightforward yet impactful for homeowners. The assessed value of a property, which is determined by the county assessor, serves as the foundation for the tax bill. For Lamont, located in Adams County, the median home price is $21,900. The property tax rate is applied to this assessed value to calculate the tax bill. In this region, the property tax bills are quite consistent, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $281. This uniformity means that homeowners in Lamont can anticipate their annual property tax expenses with a high degree of certainty. Compared to the national median property tax rate of 0.99%, Lamont's tax bills are relatively low, providing some financial relief to homeowners. However, it's essential to understand that even with lower tax rates, these bills contribute to local services and infrastructure, impacting the overall quality of life in the community.
Average Lamont Tax Bill
$281
Average Adams County Tax Bill
$1,715
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Lamont, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99017 | $281 | $281 | $281 | $281 | $281 |
Source: Ownwell