Elk, Washington Property Taxes
The median property tax rate in Elk, WA is 0.74%, 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 $313,860 in Elk, the typical annual property tax bill amounts to $2,238, falling below the national median of $2,690. Property taxes in Elk are calculated based on the assessed value, which is often less than the market value due to exemptions like the primary residence exemption. Understanding Elk'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 Elk or another part of Spokane County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Elk, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$2,323
$2,155
$1,148
Average Tax Savings
Ownwell’s Elk Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elk with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elk 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 Elk. 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 Elk, Washington
Property taxes in Elk, Washington, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elk is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Elk set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elk 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 Elk's effective property tax rate to other counties in Washington and the national median. For comparison, the zip code 99009 has both the highest and lowest median property tax rate of 0.74%. Understanding how these cities compare with Elk 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.
Average Elk Tax Rate
0.74%
Average Spokane County Tax Rate
0.93%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elk, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99009 | 0.43% | 0.71% | 0.74% | 0.77% | 0.79% |
Source: Ownwell
$1,148
Average Elk Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Elk, Washington
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Elk, Washington. 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 Elk helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 99009 has the highest median tax bill at $2,238, which is above the national median property tax rate of 0.99%.
Average Elk Assessed Value
$313,860
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 Elk, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99009 | $32,980 | $191,375 | $313,860 | $429,765 | $558,488 |
Source: Ownwell
$1,148
Average Elk Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Elk, Washington
In Elk, WA, property tax bills are calculated based on the assessed value of your home. The local assessor determines this value, which is then multiplied by the property tax rate set by Spokane County. Factors such as market conditions, property improvements, and neighborhood trends can influence your home's assessed value. With a median home price of $313,860, homeowners in Elk can expect a range of tax bills. For instance, the 25th percentile tax bill is $1,096, while the 75th percentile reaches $3,097, and the 90th percentile can go up to $4,120. These tax bills can significantly impact homeowners, making it essential to ensure your property is fairly assessed. This is where Ownwell comes in. Our expert team specializes in property tax appeals and exemptions, helping homeowners reduce their tax burdens. By thoroughly analyzing your property’s assessment and market data, we identify discrepancies and work to correct them, potentially saving you hundreds or even thousands of dollars on your property tax bill.
Average Elk Tax Bill
$2,238
Average Spokane County Tax Bill
$3,417
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Elk, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99009 | $150 | $1,096 | $2,238 | $3,097 | $4,120 |
Source: Ownwell
$1,148
Average Elk Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | July 1 |
| Tax Bill | |
| Issued | February 10 |
| Due Date #1 | April 30 |
| Due Date #2 | October 31 |
Links | |
|---|---|
| Spokane Tax Assessor | |
| Phone | (509) 477-3698 |
| Website | cp.spokanecounty.org |
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