Mica, Washington Property Taxes
The median property tax rate in MICA, WA is 0.98%, 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 MICA at $595,490, the typical annual property tax bill reaches $5,848, far exceeding the national median of $2,690. Property taxes in MICA are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding MICA'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 MICA 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
Mica, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$5,836
$5,415
$1,148
Average Tax Savings
Ownwell’s Mica Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mica with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mica 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 Mica. 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 Mica, Washington
Property taxes in MICA, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in MICA is 0.98%, slightly below the U.S. national median of 0.99%. Local government entities within MICA set these rates annually, and they can vary significantly across different neighborhoods. Each year, MICA 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 MICA's effective property tax rate to other areas in Spokane County and the national median. For comparison, the 99023 zip code has a median property tax rate of 0.98%. Understanding how these cities compare with MICA 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 Mica Tax Rate
0.98%
Average Spokane County Tax Rate
0.93%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mica, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99023 | 0.86% | 0.94% | 0.98% | 0.99% | 1.00% |
Source: Ownwell
$1,148
Average Mica Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Mica, Washington
In MICA, 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 Appraisal District 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 MICA, 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 MICA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $5,848, found in the 99023 zip code.
Average Mica Assessed Value
$595,490
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 Mica, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99023 | $234,108 | $352,600 | $595,490 | $804,460 | $930,710 |
Source: Ownwell
$1,148
Average Mica Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Mica, Washington
Property tax bills in MICA, Spokane County, WA, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is based on the market value of the home, which in MICA has a median home price of $595,490. Local tax authorities then apply the tax rate to this assessed value to calculate the tax bill. Various factors, including property size, location, and market conditions, influence this assessed value. Homeowners in MICA face significant tax bills, with the 25th percentile at $3,045 and the 75th percentile reaching $7,841, while the 90th percentile can go up to $9,181. Ownwell can help homeowners in MICA reduce these burdensome property tax bills by providing expert property tax appeal and exemption services. By analyzing your property’s assessed value and comparing it with similar properties, Ownwell can identify discrepancies and file appeals on your behalf, potentially saving you thousands of dollars annually.
Average Mica Tax Bill
$5,848
Average Spokane County Tax Bill
$3,417
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Mica, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99023 | $1,836 | $3,045 | $5,848 | $7,841 | $9,181 |
Source: Ownwell
$1,148
Average Mica 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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