Lakebay, Washington Property Taxes
The median property tax rate in Lakebay, WA is 0.81%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Lakebay at $402,850, the typical annual property tax bill reaches $3,143, surpassing the national median of $2,690. Property taxes in Lakebay are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence exemption. Understanding Lakebay'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 Lakebay or another part of Pierce County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lakebay, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$3,263
$3,188
$1,148
Average Lakebay, Washington Tax Savings
Ownwell’s Lakebay Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lakebay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakebay to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Lakebay. 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 Pierce County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lakebay, Washington
Property taxes in Lakebay, Washington, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakebay is 0.81%, lower than the U.S. national median of 0.99%. Local government entities within Lakebay set these rates annually, and they can vary across different neighborhoods. Each year, Lakebay 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 Lakebay's effective property tax rate to other areas and the national median. For comparison, the zip code 98349 has the same median property tax rate of 0.81%. Understanding how these areas compare with Lakebay provides valuable insights into the varying tax landscape across Pierce County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakebay Tax Rate
0.81%
Average Pierce County Tax Rate
1.02%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakebay, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98349 | 0.65% | 0.76% | 0.81% | 0.85% | 0.89% |
Source: Ownwell
$1,148
Average Lakebay Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lakebay, Washington
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lakebay, Washington. 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 Pierce County Assessor-Treasurer 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 Lakebay, 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 Lakebay 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 Lakebay are both $3,143, found in the 98349 zip code.
Average Lakebay Assessed Value
$402,850
Average Pierce County Assessed Value
$465,900
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakebay, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98349 | $134,060 | $270,475 | $402,850 | $564,875 | $803,260 |
Source: Ownwell
$1,148
Average Lakebay Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lakebay, Washington
In Lakebay, Pierce County, WA, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in Lakebay is $402,850. Property taxes are determined by multiplying the assessed value by the local tax rate, which can vary annually. For homeowners in Lakebay, tax bills can range significantly, with the 25th percentile tax bill at $1,842 and the 75th percentile reaching up to $4,410. The highest median tax bill in the area is $3,143, which aligns with the national median property tax rate of 0.99%. Several factors influence your property tax bill, including changes in property value, local government budgets, and voter-approved measures. High property taxes can be a burden on homeowners, making it essential to ensure your property is fairly assessed. Ownwell can help homeowners save on their property tax bills by providing expert property tax appeal and exemption services. By reviewing your property’s assessed value and identifying discrepancies, Ownwell can potentially lower your tax bill, ensuring you only pay your fair share.
Average Lakebay Tax Bill
$3,143
Average Pierce County Tax Bill
$4,693
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakebay, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98349 | $682 | $1,842 | $3,143 | $4,410 | $6,358 |
Source: Ownwell
$1,148
Average Lakebay Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | August 26 |
| Tax Bill | |
| Issued | February 10 |
| Due Date #1 | April 30 |
| Due Date #2 | October 31 |
Links | |
|---|---|
| Pierce Tax Assessor | |
| Phone | (253) 798-6111 |
| Website | atip.piercecountywa.gov |
| pcatr@piercecountywa.gov | |
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