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City Of Spokane Valley, Washington Property Taxes

The median property tax rate in City of Spokane Valley, WA is 0.93%, slightly lower than the national median of 0.99% but higher than the Washington state median of 0.88%. With a median home value of $413,700 in the City of Spokane Valley, the typical annual property tax bill reaches $3,782, surpassing the national median of $2,690. Property taxes in the City of Spokane Valley are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding the City of Spokane Valley'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 the City of Spokane Valley 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

City Of Spokane Valley, Washington Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Average Tax Rate

0.93%

Estimate Property Tax Bill

$3,847

$3,570

SAVE WITH OWNWELL

$1,148

Average Tax Savings

Ownwell’s CITY OF SPOKANE VALLEY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CITY OF SPOKANE VALLEY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CITY OF SPOKANE VALLEY 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 CITY OF SPOKANE VALLEY. 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 City Of Spokane Valley, Washington

Property taxes in the City of Spokane Valley, WA are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in the City of Spokane Valley is 0.93%, which is lower than the U.S. national median of 0.99%. Local government entities within the City of Spokane Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, the City of Spokane Valley 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. Understanding how the City of Spokane Valley's effective property tax rate compares to other areas 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.

Property Tax Rates Across City Of Spokane Valley, Washington

Source: Ownwell

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0.56%

0.83%

1.10%

Average City Of Spokane Valley Tax Rate

0.93%

Average Spokane County Tax Rate

0.93%

Average Washington Tax Rate

0.88%

Average United States Tax Rate

0.99%

Property Tax Rates Across City Of Spokane Valley, Washington

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
990370.87%0.89%0.93%0.93%0.95%

Source: Ownwell

Property Tax Assessment Values Across City Of Spokane Valley, Washington

In the City of Spokane Valley, 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. 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 the City of Spokane Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $3782 in zip code 99037, while the lowest median tax bill is also $3782 in the same zip code.

Property Tax Assessment Values Across City Of Spokane Valley, Washington

Source: Ownwell

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$6,800

$497,053

$987,305

Average City Of Spokane Valley Assessed Value

$413,700

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 City Of Spokane Valley, Washington

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
99037$380,600$388,200$413,700$528,500$623,760

Source: Ownwell

Property Tax Bills Across City Of Spokane Valley, Washington

In the City of Spokane Valley, property tax bills are calculated based on the assessed value of a home, which is determined by the Spokane County Assessor's Office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as market trends, property improvements, and neighborhood characteristics can influence the assessed value. For instance, with a median home price of $413,700, homeowners can expect tax bills ranging from $3,547 at the 25th percentile to $5,631 at the 90th percentile. The median property tax rate in Spokane Valley is higher than the national median of 0.99%, placing a significant financial burden on homeowners. Ownwell can help homeowners in Spokane Valley reduce their property tax bills by providing expert property tax appeal and exemption services. By analyzing market data and comparable property assessments, Ownwell identifies opportunities to challenge over-assessments, ensuring homeowners pay only their fair share. This service can lead to substantial savings, making homeownership more affordable.

Property Tax Bills Across City Of Spokane Valley, Washington

Source: Ownwell

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$56

$4,439

$8,821

Average City Of Spokane Valley Tax Bill

$3,782

Average Spokane County Tax Bill

$3,417

Average Washington Tax Bill

$4,284

Average United States Tax Bill

$2,690

Property Tax Bills Across City Of Spokane Valley, Washington

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
99037$3,498$3,547$3,782$4,784$5,631

Source: Ownwell

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