Nespelem, Washington Property Taxes
The median property tax rate in Nespelem, WA is 0.81%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $89,900 in Nespelem, the typical annual property tax bill is approximately $745, well below the national median of $2,690. Property taxes in Nespelem are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Nespelem'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 Nespelem 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
Nespelem, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$728
$676
Ownwell’s Nespelem Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Nespelem with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Nespelem to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Nespelem, Washington
Property taxes in Nespelem, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nespelem is 0.81%, which is lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Nespelem set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nespelem 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 Nespelem's effective property tax rate to other counties in Washington and the national median. For comparison, the zip code 99155 has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these areas compare with Nespelem provides valuable insights into the varying tax landscape across Ferry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nespelem Tax Rate
0.81%
Average Ferry County Tax Rate
0.93%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nespelem, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99155 | 0.78% | 0.78% | 0.81% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Nespelem, Washington
In Nespelem, 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 Ferry 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 Nespelem, 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 Nespelem helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bills is 99155, with a median tax bill of $745.
Average Nespelem Assessed Value
$89,900
Average Ferry County Assessed Value
$101,200
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nespelem, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99155 | $40,580 | $70,450 | $89,900 | $132,300 | $190,100 |
Source: Ownwell
Property Tax Bills Across Nespelem, Washington
In Nespelem, property tax bills are calculated based on the assessed value of the home and the local tax rate. The median home price in this area is $89,900. Homeowners in Nespelem can expect to pay property taxes that range significantly depending on various factors. For instance, the tax bill at the 25th percentile is around $625, while at the 75th percentile, it rises to approximately $838. The highest tax bills, at the 90th percentile, can reach up to $1,431. These tax rates are influenced by local government budgets, school district funding, and other municipal needs. The median tax bill in the area is $745, which aligns with the national median property tax rate of 0.99%. This means that homeowners in Nespelem pay a comparable amount to the national average, making it crucial for them to understand how these taxes are assessed and allocated. This understanding can help homeowners better manage their finances and plan for future expenses.
Average Nespelem Tax Bill
$745
Average Ferry County Tax Bill
$850
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Nespelem, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99155 | $547 | $625 | $745 | $838 | $1,431 |
Source: Ownwell