Loon Lake, Washington Property Taxes
The median property tax rate in Loon Lake, WA is 0.87%, slightly below the state median of 0.88% and the national median of 0.99%. With a median home value of $207,904, the typical annual property tax bill in Loon Lake is $1,948, which is lower than the national median of $2,690. Property taxes in Loon Lake are determined based on the assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. By understanding Loon Lake's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Loon Lake or another part of Stevens County, a thorough understanding of the local property tax system will be beneficial.
Last Updated June 14, 2024
Loon Lake, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,809
$1,678
Ownwell’s LOON LAKE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LOON LAKE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LOON LAKE to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. 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 Loon Lake, Washington
Property taxes in Loon 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 Loon Lake is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Loon Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Loon 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 Loon Lake's effective property tax rate to other regions in Washington and the national median. For comparison, the 99148 zip code has both the highest and lowest median property tax rate of 0.87%. Understanding how these areas compare with Loon Lake provides valuable insights into the varying tax landscape across Stevens County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Loon Lake Tax Rate
0.87%
Average Stevens County Tax Rate
0.88%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Loon Lake, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99148 | 0.78% | 0.81% | 0.87% | 1.05% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Loon Lake, Washington
In Loon 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 Stevens 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 Loon Lake, 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 Loon Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Loon Lake is $207,904, with tax bills ranging from $1,028 at the 25th percentile to $4,294 at the 90th percentile. Notably, the zip code 99148 has both the highest and lowest median tax bill at $1,948.
Average Loon Lake Assessed Value
$207,904
Average Stevens County Assessed Value
$158,721
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Loon Lake, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99148 | $56,696 | $118,356 | $207,904 | $318,212 | $448,540 |
Source: Ownwell
Property Tax Bills Across Loon Lake, Washington
In Loon Lake, Stevens County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to calculate the tax bill. For homeowners in Loon Lake, the tax rate can vary, affecting the final amount owed. The median home price in Loon Lake is $207,904, and property tax bills can range significantly. For instance, the 25th percentile tax bill is $1,028, while the 75th percentile reaches $3,000, and the 90th percentile can be as high as $4,294. These figures highlight the variability in tax bills, influenced by factors such as the property's assessed value and applicable exemptions. Compared to the national median property tax rate of 0.99%, homeowners in Loon Lake may experience different financial impacts based on their specific circumstances. Understanding these factors is crucial for homeowners to anticipate their tax obligations and manage their finances effectively.
Average Loon Lake Tax Bill
$1,948
Average Stevens County Tax Bill
$1,378
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Loon Lake, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99148 | $438 | $1,028 | $1,948 | $3,000 | $4,294 |
Source: Ownwell