Mead, Washington Property Taxes
The median property tax rate in Mead, WA is 0.90%, slightly lower than the national median of 0.99% but higher than the Washington state median of 0.88%. With the median home value in Mead at $376,400, the typical annual property tax bill reaches $3,453, significantly exceeding the national median of $2,690. Property taxes in Mead are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Mead'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 Mead 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
Mead, Washington Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,760
$612
$1,148
Average Mead, Washington Tax Savings
Ownwell’s Mead Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mead with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mead 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 Mead. 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 Mead, Washington
Property taxes in Mead, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mead is 0.90%, slightly below the U.S. national median of 0.99%. Local government entities within Mead set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mead 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 Mead's effective property tax rate to other areas in Spokane County and the national median. For comparison, the 99021 zip code has the highest median property tax rate of 0.90%, while it also has the lowest median tax rate of 0.90%. Understanding how these areas compare with Mead 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 Mead Tax Rate
0.90%
Average Spokane County Tax Rate
0.93%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mead, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99021 | 0.81% | 0.85% | 0.90% | 0.93% | 0.97% |
Source: Ownwell
$1,148
Average Mead Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Mead, Washington
In Mead, 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 Mead, 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 Mead helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Mead is $3,453 in the 99021 zip code, while the lowest median tax bill is also $3,453 in the same zip code.
Average Mead Assessed Value
$376,400
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 Mead, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99021 | $33,590 | $136,950 | $376,400 | $540,350 | $664,180 |
Source: Ownwell
$1,148
Average Mead Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Mead, Washington
In Mead, Spokane County, WA, property tax bills are calculated based on the assessed value of a home, not its market value. The assessed value is determined by the county assessor and is a percentage of the market value. For instance, a home in Mead with a median price of $376,400 would have its tax bill calculated using this assessed value. Factors such as property location, improvements, and local tax rates influence the final tax bill. Homeowners in Mead can face tax bills ranging from $949 at the 25th percentile to $5,926 at the 90th percentile, with the median tax bill being $3,453. Ownwell can help homeowners in Mead reduce their property tax bills by providing expert property tax appeal and exemption services. By analyzing the assessed value and comparing it with similar properties, Ownwell identifies discrepancies and files appeals on behalf of homeowners. This professional assistance can lead to significant savings, ensuring homeowners are not overpaying on their property taxes.
Average Mead Tax Bill
$3,453
Average Spokane County Tax Bill
$3,417
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Mead, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99021 | $303 | $949 | $3,453 | $4,870 | $5,926 |
Source: Ownwell
$1,148
Average Mead 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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