Palouse, Washington Property Taxes
The median property tax rate in Palouse, WA is 1.53%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Palouse, the typical annual property tax bill reaches $1,852, which, while significant, is below the national median of $2,690. Property taxes in Palouse are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Palouse'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 Palouse 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
Palouse, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$2,006
$1,960
Ownwell’s Palouse Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palouse with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palouse 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 Palouse, Washington
Property taxes in Palouse, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Palouse is 1.53%, significantly higher than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Palouse set these rates annually, and they can vary across different neighborhoods. Each year, Palouse 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 Palouse's effective property tax rate to other counties in Washington and the national median. For comparison, the zip code 99161 has the highest median property tax rate of 1.53%, while the same zip code also has the lowest median tax rate of 1.53%. Understanding how these cities compare with Palouse 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 Palouse Tax Rate
1.53%
Average Whitman County Tax Rate
1.48%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palouse, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99161 | 1.20% | 1.30% | 1.53% | 1.53% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Palouse, Washington
In Palouse, 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'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. In Palouse, 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 Palouse helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $1,852, found in the 99161 zip code.
Average Palouse Assessed Value
$131,125
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 Palouse, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99161 | $40,011 | $85,102 | $131,125 | $186,327 | $250,837 |
Source: Ownwell
Property Tax Bills Across Palouse, Washington
In Palouse, located in Whitman County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value reflects the market value of the property, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in Palouse is $131,125, which directly influences the tax bill amount. Several factors are considered when determining the tax bill, including the property's location, its assessed value, and the applicable tax rate. Homeowners in Palouse can expect their tax bills to fall within a range, with the 25th percentile tax bill at $1,149 and the 75th percentile tax bill at $2,640. At the 90th percentile, tax bills can reach up to $3,484, reflecting higher-valued properties. These property taxes are crucial for funding local services such as public schools, infrastructure, and emergency services, impacting homeowners by contributing to community development and maintenance. Compared to the national median property tax rate of 0.99%, Palouse's rates provide a snapshot of the local tax landscape.
Average Palouse Tax Bill
$1,852
Average Whitman County Tax Bill
$1,573
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Palouse, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99161 | $394 | $1,149 | $1,852 | $2,640 | $3,484 |
Source: Ownwell