Tekoa, Washington Property Taxes
The median property tax rate in Tekoa, WA, is 0.72%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $286,950, the typical annual property tax bill in Tekoa reaches $2,075, falling below the national median of $2,690. Property taxes in Tekoa are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Tekoa'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 Tekoa 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
Tekoa, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$2,066
$1,917
$1,148
Average Tax Savings
Ownwell’s Tekoa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tekoa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tekoa 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 Tekoa. 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 Tekoa, Washington
Property taxes in Tekoa, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tekoa is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Tekoa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tekoa 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 Tekoa's effective property tax rate to other areas in Washington and the national median. For comparison, the 99033 zip code has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these areas compare with Tekoa 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 Tekoa Tax Rate
0.72%
Average Spokane County Tax Rate
0.93%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tekoa, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99033 | 0.16% | 0.30% | 0.72% | 0.80% | 0.87% |
Source: Ownwell
$1,148
Average Tekoa Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Tekoa, Washington
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Tekoa, Washington. The market value represents 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 Tekoa, 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 Tekoa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Tekoa are both $2,075, found in the 99033 zip code.
Average Tekoa Assessed Value
$286,950
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 Tekoa, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99033 | $244,224 | $267,930 | $286,950 | $305,500 | $376,870 |
Source: Ownwell
$1,148
Average Tekoa Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Tekoa, Washington
In Tekoa, located in Spokane County, WA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Tekoa is $286,950, and the property tax rate is applied to this value to determine the annual tax bill. Factors such as property improvements, neighborhood changes, and market conditions can influence the assessed value, impacting the tax bill. For instance, homeowners in the 25th percentile pay around $903 annually, while those in the 75th percentile face bills up to $2,132. The highest median tax bill in Tekoa is $2,075, which is slightly above the national median property tax rate of 0.99%. Ownwell can assist homeowners in Tekoa by providing expert property tax appeal and exemption services. By reviewing property assessments and identifying discrepancies, Ownwell helps reduce over-assessed values, potentially lowering annual tax bills. This professional assistance ensures homeowners pay only their fair share, offering significant savings and financial relief.
Average Tekoa Tax Bill
$2,075
Average Spokane County Tax Bill
$3,417
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Tekoa, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99033 | $466 | $903 | $2,075 | $2,132 | $3,174 |
Source: Ownwell
$1,148
Average Tekoa 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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