Lacey, Washington Property Taxes
The median property tax rate in Lacey, WA is 0.94%, slightly lower than the national median of 0.99% but higher than the Washington state median of 0.88%. With a median home value of $422,400 in Lacey, the typical annual property tax bill reaches $3,924, significantly exceeding the national median of $2,690. Property taxes in Lacey are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Lacey'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 Lacey 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
Lacey, Washington Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,760
$612
$1,148
Average Lacey, Washington Tax Savings
Ownwell’s Lacey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lacey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lacey 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 Lacey. 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 Thurston County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lacey, Washington
Property taxes in Lacey, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lacey is 0.94%, falling just below the U.S. national median of 0.99%. Local government entities within Lacey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lacey 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 Lacey's effective property tax rate to other counties in Washington and the national median. For comparison, the 98503 zip code has the highest median property tax rate of 0.94%, while the 98516 zip code has the lowest median tax rate of 0.94%. Understanding how these areas compare with Lacey provides valuable insights into the varying tax landscape across Thurston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lacey Tax Rate
0.94%
Average Thurston County Tax Rate
0.94%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lacey, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98503 | 0.80% | 0.91% | 0.94% | 0.97% | 1.01% |
| 98513 | 0.89% | 0.92% | 0.94% | 0.95% | 0.98% |
| 98516 | 0.85% | 0.90% | 0.94% | 0.96% | 0.98% |
Source: Ownwell
$1,148
Average Lacey Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lacey, Washington
In Lacey, 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 Thurston County Assessor 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 Lacey, 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 Lacey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $4,517 in the 98516 zip code, while the lowest is $3,786 in the 98503 zip code.
Average Lacey Assessed Value
$422,400
Average Thurston County Assessed Value
$437,400
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lacey, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98503 | $264,680 | $351,100 | $409,100 | $467,100 | $538,020 |
| 98513 | $305,800 | $375,500 | $408,300 | $460,400 | $500,100 |
| 98516 | $376,840 | $430,000 | $492,550 | $578,125 | $690,930 |
Source: Ownwell
$1,148
Average Lacey Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lacey, Washington
In Lacey, located in Thurston County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in this area is $422,400, and the property tax rate is applied to this value to generate the tax bill. Various factors, such as the property's location, improvements, and market conditions, influence the assessed value. Homeowners in Lacey face tax bills that range widely, with the 25th percentile at $3,304 and the 75th percentile at $4,593. The highest median tax bill in the area, found in zip code 98516, reaches $4,517, while the lowest in zip code 98503 is $3,786. These taxes can significantly impact homeowners' finances. Ownwell can help homeowners in Lacey reduce their property tax bills by appealing inaccurate assessments and identifying eligible exemptions. By leveraging our expertise, homeowners can potentially save hundreds or even thousands of dollars annually, ensuring they pay only their fair share.
Average Lacey Tax Bill
$3,924
Average Thurston County Tax Bill
$4,041
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Lacey, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98503 | $1,141 | $3,129 | $3,786 | $4,426 | $5,178 |
| 98513 | $2,472 | $3,421 | $3,834 | $4,349 | $4,787 |
| 98516 | $3,115 | $3,851 | $4,517 | $5,401 | $6,469 |
Source: Ownwell
$1,148
Average Lacey Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | October 28 |
| Tax Bill | |
| Issued | February 10 |
| Due Date #1 | April 30 |
| Due Date #2 | October 31 |
Links | |
|---|---|
| Thurston Tax Assessor | |
| Website | tcproperty.co.thurston.wa.us |
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