Liberty Lake, Washington Property Taxes
The median property tax rate in Liberty Lake, WA is 0.91%, slightly below the national median of 0.99% but above the Washington state median of 0.88%. With the median home value in Liberty Lake at $536,900, the typical annual property tax bill reaches $4,806, significantly higher than the national median of $2,690. Property taxes in Liberty Lake are calculated based on the tax assessed value, which often falls below the market value thanks to various exemptions, such as primary residence and agricultural exemptions. Understanding Liberty Lake'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 Liberty Lake 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
Liberty Lake, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$4,886
$4,534
$1,148
Average Tax Savings
Ownwell’s Liberty Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Liberty Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Liberty Lake 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 Liberty Lake. 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 Spokane County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Liberty Lake, Washington
Property taxes in Liberty Lake, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Liberty Lake is 0.91%, slightly below the Washington state median of 0.93% and the U.S. national median of 0.99%. Local government entities within Liberty Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Liberty Lake 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 Liberty Lake's effective property tax rate to other areas in Spokane County and the national median. For comparison, the 99016 zip code has the highest median property tax rate of 0.94%, while the 99019 zip code has the lowest median tax rate of 0.90%. Understanding how these areas compare with Liberty Lake 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 Liberty Lake Tax Rate
0.91%
Average Spokane County Tax Rate
0.93%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Liberty Lake, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99016 | 0.91% | 0.93% | 0.94% | 0.96% | 1.02% |
| 99019 | 0.81% | 0.86% | 0.90% | 0.93% | 0.96% |
Source: Ownwell
$1,148
Average Liberty Lake Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Liberty Lake, Washington
In Liberty Lake, 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. Liberty Lake's median home price is $536,900, with a median tax bill of $4,113 in zip code 99016 and $4,976 in zip code 99019. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Liberty Lake Assessed Value
$536,900
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 Liberty Lake, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99016 | $192,050 | $354,425 | $436,500 | $536,025 | $627,450 |
| 99019 | $340,380 | $446,600 | $557,100 | $730,150 | $1,020,338 |
Source: Ownwell
$1,148
Average Liberty Lake Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Liberty Lake, Washington
In Liberty Lake, 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 arrive at the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. For instance, the median home price in Liberty Lake is $536,900, contributing to varying tax bills, with the 25th percentile at $3,787 and the 75th percentile at $6,189. Homeowners in Liberty Lake experience tax bills that can significantly impact their finances, especially when compared to the national median property tax rate of 0.99%. The highest median tax bill in the area is $4,976 in zip code 99019, while the lowest is $4,113 in zip code 99016. Ownwell can help homeowners in Liberty Lake reduce their property tax bills by providing expert property tax appeal and exemption services. By leveraging local market data and professional knowledge, Ownwell ensures homeowners pay only their fair share, potentially saving them thousands of dollars annually.
Average Liberty Lake Tax Bill
$4,806
Average Spokane County Tax Bill
$3,417
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Liberty Lake, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99016 | $1,610 | $3,312 | $4,113 | $5,021 | $5,868 |
| 99019 | $2,637 | $3,935 | $4,976 | $6,478 | $9,159 |
Source: Ownwell
$1,148
Average Liberty Lake 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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