Ritzville, Washington Property Taxes
The median property tax rate in Ritzville, 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 Ritzville at $223,880, the typical annual property tax bill reaches $2,977, exceeding the national median of $2,690. Property taxes in Ritzville 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 Ritzville'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 Ritzville 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
Ritzville, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.34%
Estimate Property Tax Bill
$3,000
$2,784
Ownwell’s Ritzville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ritzville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ritzville 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 Ritzville, Washington
Property taxes in Ritzville, Washington, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ritzville is 1.34%, significantly higher than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Ritzville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ritzville 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 Ritzville's effective property tax rate to other counties in Washington and the national median. For comparison, the zip code 99169 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 Ritzville 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 Ritzville 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 Ritzville, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99169 | 1.33% | 1.33% | 1.34% | 1.40% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Ritzville, Washington
In Ritzville, 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 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 Ritzville, 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 Ritzville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 99169 in Ritzville has the highest and lowest median tax bill, both at $2,977, reflecting the uniformity in property tax rates within the area.
Average Ritzville Assessed Value
$223,880
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 Ritzville, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99169 | $142,528 | $173,035 | $223,880 | $241,490 | $252,056 |
Source: Ownwell
Property Tax Bills Across Ritzville, Washington
Property tax bills in Ritzville, Lincoln County, WA are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value. For homeowners in Ritzville, the median home price stands at $223,880. The property tax bills vary significantly, with the 25th percentile at $2,305 and the 75th percentile at $3,372. The 90th percentile tax bill reaches $3,609. Despite these variations, the highest and lowest median tax bills in the area are both $2,977, highlighting a degree of consistency in tax assessments within the zip code 99169. Compared to the national median property tax rate of 0.99%, Ritzville's property tax rates can have a substantial impact on homeowners, influencing their annual financial planning and overall housing costs.
Average Ritzville Tax Bill
$2,977
Average Lincoln County Tax Bill
$618
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Ritzville, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99169 | $1,902 | $2,305 | $2,977 | $3,372 | $3,609 |
Source: Ownwell