Spokane Valley, Washington Property Taxes
The median property tax rate in Spokane Valley, WA is 0.95%, slightly below the national median of 0.99% but above the Washington state median of 0.88%. With a median home value of $365,700, the typical annual property tax bill in Spokane Valley reaches $3,501, surpassing the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Spokane Valley'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 Spokane Valley 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
Spokane Valley, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$3,474
$3,394
$1,148
Average Spokane Valley, Washington Tax Savings
Ownwell’s Spokane Valley Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Spokane Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spokane Valley 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 Spokane Valley. 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 Spokane Valley, Washington
Property taxes in Spokane Valley, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spokane Valley is 0.95%, slightly below the Washington state median but close to the U.S. national median of 0.99%. Local government entities within Spokane Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spokane Valley 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 Spokane Valley's effective property tax rate to other areas in Spokane County and the national median. For comparison, the 99223 zip code has the highest median property tax rate of 1.05%, while the 99037 zip code has the lowest median tax rate of 0.91%. Understanding how these cities compare with Spokane Valley 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 Spokane Valley Tax Rate
0.95%
Average Spokane County Tax Rate
0.93%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spokane Valley, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99016 | 0.79% | 0.93% | 0.99% | 1.02% | 1.05% |
| 99027 | 0.26% | 0.81% | 0.94% | 1.01% | 1.07% |
| 99037 | 0.83% | 0.87% | 0.91% | 0.94% | 0.97% |
| 99206 | 0.82% | 0.90% | 0.95% | 0.99% | 1.04% |
| 99212 | 0.82% | 0.98% | 1.03% | 1.12% | 1.18% |
| 99216 | 0.86% | 0.92% | 0.94% | 0.98% | 1.02% |
| 99223 | 1.05% | 1.05% | 1.05% | 1.05% | 1.05% |
Source: Ownwell
$1,148
Average Spokane Valley Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Spokane Valley, Washington
In Spokane Valley, 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's Office 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. For instance, the zip code 99016 has the highest median tax bill at $3,858, while the zip code 99027 has the lowest at $1,356. 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.
Property Tax Assessment Values Across Spokane Valley, Washington
Source: Ownwell
$6,800
$497,053
$987,305
Average Spokane Valley Assessed Value
$365,700
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 Spokane Valley, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99016 | $117,120 | $286,400 | $388,500 | $474,050 | $609,460 |
| 99027 | $9,410 | $34,800 | $159,100 | $269,500 | $422,800 |
| 99037 | $295,630 | $355,425 | $420,150 | $507,100 | $594,370 |
| 99206 | $253,455 | $315,200 | $371,150 | $442,900 | $521,780 |
| 99212 | $177,400 | $253,195 | $314,500 | $376,900 | $460,040 |
| 99216 | $268,600 | $318,800 | $364,600 | $416,800 | $474,810 |
| 99223 | $333,700 | $333,700 | $333,700 | $333,700 | $333,700 |
Source: Ownwell
$1,148
Average Spokane Valley Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Spokane Valley, Washington
In Spokane Valley, Spokane County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. Homeowners in this area face a range of tax bills, with the 25th percentile at $2,826 and the 75th percentile at $4,177. The highest median tax bill in the region is $3,858, found in the 99016 zip code, while the lowest is $1,356 in the 99027 zip code. These figures show a significant variation, highlighting the importance of accurate assessments. Various factors influence the tax bill, including the home's market value, local tax rates, and any applicable exemptions. For instance, a homeowner with a median home price of $365,700 could see different tax bills based on these variables. Ownwell helps homeowners save on their property tax bills by offering expert property tax appeal and exemption services. By ensuring that your home's assessed value is fair and taking advantage of all possible exemptions, Ownwell can help reduce your annual property tax burden, providing significant financial relief.
Average Spokane Valley Tax Bill
$3,501
Average Spokane County Tax Bill
$3,417
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Spokane Valley, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99016 | $800 | $2,732 | $3,858 | $4,664 | $5,784 |
| 99027 | $81 | $276 | $1,356 | $2,694 | $4,104 |
| 99037 | $2,410 | $3,184 | $3,748 | $4,545 | $5,471 |
| 99206 | $1,714 | $2,890 | $3,524 | $4,193 | $4,921 |
| 99212 | $708 | $2,504 | $3,267 | $3,929 | $4,748 |
| 99216 | $1,931 | $2,925 | $3,427 | $3,928 | $4,476 |
| 99223 | $3,498 | $3,498 | $3,498 | $3,498 | $3,498 |
Source: Ownwell
$1,148
Average Spokane Valley 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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