Lamona, Washington Property Taxes
The median property tax rate in Lamona, WA is 1.34%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Lamona, the typical annual property tax bill reaches $687, which is below the national median of $2,690. Property taxes in Lamona are calculated based on the tax assessed value, typically lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Lamona'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 Lamona or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lamona, Washington Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,760
Ownwell’s Lamona Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lamona with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lamona 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 Lamona, Washington
Property taxes in Lamona, Washington, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lamona is 1.34%, higher than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Lamona set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lamona 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 Lamona's effective property tax rate to other counties in Washington and the national median. For comparison, the 99144 zip code has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these cities compare with Lamona provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lamona Tax Rate
1.34%
Average Lincoln County Tax Rate
1.10%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lamona, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99144 | 1.33% | 1.33% | 1.34% | 1.37% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Lamona, Washington
In Lamona, 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 Lincoln 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 Lamona, 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 highest median tax bill in Lamona is $687 in the 99144 zip code, while the lowest is also $687 in the same zip code. Being aware of these valuation processes in Lamona helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lamona Assessed Value
$50,570
Average Lincoln County Assessed Value
$68,575
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lamona, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99144 | $12,845 | $25,552 | $50,570 | $104,972 | $140,815 |
Source: Ownwell
Property Tax Bills Across Lamona, Washington
In Lamona, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the home. For example, with a median home price of $50,570, the assessed value plays a crucial role in determining the final tax bill. Homeowners in Lamona can expect a range of tax bills depending on their property's value, with the 25th percentile tax bill at $357 and the 75th percentile reaching up to $1,406. At the 90th percentile, tax bills can go as high as $1,880. The median property tax rate in Lincoln County is 0.99%, aligning with the national median rate. This ensures that the tax burden is fairly distributed among homeowners. These taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Lamona Tax Bill
$687
Average Lincoln County Tax Bill
$618
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Lamona, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99144 | $179 | $357 | $687 | $1,406 | $1,880 |
Source: Ownwell