Latah, Washington Property Taxes
The median property tax rate in Latah, WA is 0.62%, considerably lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Latah at $207,030, the typical annual property tax bill reaches $1,194, significantly below the national median of $2,690. Property taxes in Latah 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 Latah'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 Latah 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
Latah, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$1,284
$1,191
$1,148
Average Tax Savings
Ownwell’s Latah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Latah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Latah 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 Latah. 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 Latah, Washington
Property taxes in Latah, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Latah is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Latah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Latah 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 Latah's effective property tax rate to other counties in Washington and the national median. For comparison, the zip code 99018 has both the highest and lowest median property tax rate of 0.62%. Understanding how these cities compare with Latah 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 Latah Tax Rate
0.62%
Average Spokane County Tax Rate
0.93%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Latah, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99018 | 0.23% | 0.55% | 0.62% | 0.75% | 0.86% |
Source: Ownwell
$1,148
Average Latah Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Latah, Washington
In Latah, 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. In Latah, 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 Latah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Latah is $1,194, with the zip code 99018 bearing this cost, providing a clear insight into the local tax landscape.
Average Latah Assessed Value
$207,030
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 Latah, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99018 | $84,060 | $131,650 | $207,030 | $280,300 | $400,140 |
Source: Ownwell
$1,148
Average Latah Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Latah, Washington
In Latah, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Latah, homeowners experience a range of property tax bills, with the 25th percentile at $603 and the 75th percentile reaching $1,844. The median home price in the area is $207,030, and tax bills can go as high as $2,529 for the 90th percentile. Several factors influence the assessed value, including market conditions, property improvements, and neighborhood trends. This directly impacts homeowners, as higher assessed values result in higher tax bills, potentially straining household budgets. Ownwell can help homeowners in Latah save on their property tax bills by providing expert property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell ensures that homeowners are not overpaying and are receiving all eligible exemptions, ultimately reducing their tax burden.
Average Latah Tax Bill
$1,194
Average Spokane County Tax Bill
$3,417
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Latah, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99018 | $241 | $603 | $1,194 | $1,844 | $2,529 |
Source: Ownwell
$1,148
Average Latah 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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