Yes, LATITUDE is a Scrabble word!

Letter values in Scrabble US: L 1, A 1, T 1, I 1, T 1, U 1, D 2, E 1.

Is it a valid word?

LATITUDE is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

the angular distance between an imaginary line around a heavenly body parallel to its equator and the equator itself
freedom from normal restraints in conduct
an imaginary line around the Earth parallel to the equator
scope for freedom of e.g. action or thought; freedom from restriction

Also: line of latitude, parallel of latitude.