Lamont, Washington Property Taxes
The median property tax rate in Lamont, WA is 1.07%, higher than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $70,782, the typical annual property tax bill in Lamont reaches $751, well below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often falls below market value due to exemptions like the primary residence and agricultural exemptions. Understanding Lamont'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 Lamont or another part of Whitman County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lamont, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$757
$703
Ownwell’s Lamont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lamont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lamont 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 Lamont, Washington
Property taxes in Lamont, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lamont is 1.07%, higher than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Lamont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lamont 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 Lamont's effective property tax rate to other counties in Washington and the national median. For comparison, the 99017 zip code has the highest median property tax rate of 1.07%, while the 99017 zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Lamont provides valuable insights into the varying tax landscape across Whitman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lamont Tax Rate
1.07%
Average Whitman County Tax Rate
1.48%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lamont, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99017 | 0.85% | 1.04% | 1.07% | 1.07% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Lamont, Washington
In Lamont, 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 Whitman 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 Lamont, 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 Lamont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Lamont is $70,782, with tax bills ranging from $237 at the 25th percentile to $2,720 at the 90th percentile. The zip code 99017 has both the highest and lowest median tax bill at $751.
Average Lamont Assessed Value
$70,782
Average Whitman County Assessed Value
$117,153
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lamont, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99017 | $6,500 | $21,290 | $70,782 | $147,839 | $272,919 |
Source: Ownwell
Property Tax Bills Across Lamont, Washington
In Lamont, property tax bills are calculated based on the assessed value of a home, which is determined by the Whitman County Assessor. The median home price in Lamont is $70,782, and the tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property improvements, market trends, and neighborhood characteristics can influence the assessed value. Homeowners in Lamont experience a range of tax bills, with the 25th percentile paying around $237 and the 75th percentile paying up to $1,445 annually. For those in the 90th percentile, the tax bill can reach as high as $2,720. Compared to the national median property tax rate of 0.99%, Lamont's tax rates can vary significantly, impacting homeowners differently based on their property's assessed value. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Lamont Tax Bill
$751
Average Whitman County Tax Bill
$1,573
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Lamont, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99017 | $75 | $237 | $751 | $1,445 | $2,720 |
Source: Ownwell