Yes, natural latex is compostable.
Natural latex is considered a "brown" composting material. (Your composter or compost pile needs a proper ratio of carbon-rich materials, or “browns,” and nitrogen-rich materials, or “greens.” Other brown materials include dried leaves, straw, and wood chips. Nitrogen materials are fresh or "green", such as grass clippings and kitchen scraps.)
Natural latex requires about 6 months to compost.