Tekoa, Washington Property Taxes
The median property tax rate in Tekoa, WA is 1.61%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Tekoa, the typical annual property tax bill reaches $856, which is significantly lower than the national median of $2,690. Property taxes in Tekoa are calculated based on the assessed value, which typically falls below the market value due to various 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
$2,500,000
$5,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,760
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 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 Whitman County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Tekoa, Washington
Property taxes in Tekoa, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tekoa is 1.61%, significantly higher 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 Whitman County and the national median. For comparison, the zip code 99033 has both the highest and lowest median property tax rate of 1.61%. Understanding how these areas compare with Tekoa 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 Tekoa Tax Rate
1.61%
Average Whitman County Tax Rate
1.48%
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 | 0.21% | 1.61% | 1.61% | 1.61% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Tekoa, Washington
In Tekoa, 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 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 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. In Tekoa, the highest median tax bill is $856 in the 99033 zip code, while the lowest median tax bill is also $856 in the same zip code.
Average Tekoa Assessed Value
$61,118
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 Tekoa, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99033 | $12,750 | $35,477 | $61,118 | $101,616 | $152,102 |
Source: Ownwell
Property Tax Bills Across Tekoa, Washington
In Tekoa, Whitman County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, improvements made to the property, and comparable property sales in the area. For homeowners in Tekoa, the median home price is $61,118, and property tax bills can vary significantly. The 25th percentile tax bill is approximately $402, while the 75th percentile tax bill is around $1,542. At the 90th percentile, homeowners could see tax bills as high as $2,376. The highest and lowest median tax bills in the area are both $856, found in the zip code 99033. Understanding how property tax bills are calculated helps homeowners anticipate their annual expenses and budget accordingly. Compared to the national median property tax rate of 0.99%, Tekoa's rates reflect the local economic conditions and property values.
Average Tekoa Tax Bill
$856
Average Whitman County Tax Bill
$1,573
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 | $35 | $402 | $856 | $1,542 | $2,376 |
Source: Ownwell