Living in Coeur d' Alene
Spokane vs. Coeur d’Alene Idaho
Summary
When it comes to choosing a place to settle down in the Pacific Northwest, two names often emerge: Spokane, Washington, and Coeur d’Alene, Idaho. Located just a short 45-minute drive apart, these two regions may seem similar at first glance, but they offer distinctly different lifestyles and amenities. As a realtor with extensive experience in both markets, I’m excited to delve into five key considerations that could shape your decision.
1. Tax Differences: A Double-Edged Sword One of the first things I discuss with potential movers is taxes, which significantly impact your financial planning. In Washington, there is no state income tax—an attractive feature for many retirees.
In contrast, Idaho has a state income tax that’s just shy of 6%. However, property taxes in Idaho tend to be lower. For instance, a home in Liberty Lake, WA, valued at $530,000 has property taxes around $4,200, while a similar home just across the state line in Post Falls, ID, priced at $540,000, is assessed at approximately $3,228.
Sales taxes also vary, with Idaho’s at 6% plus additional local taxes. Spokane's sales tax, however, readily reaches 9%. Additionally, Spokane levies an excise tax on home sales—costs that don’t exist in Idaho.
