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Bonney Lake, Pierce County, Washington Property Taxes

  • Median Bonney Lake, WA effective property tax rate: 1.02%, matching the national median of 1.02%, but higher than the Washington state median of 0.88%.

  • Median Bonney Lake, WA home value: $507,800

  • Median annual Bonney Lake, WA tax bill: $4,995, $2,595 higher than the national median property tax bill of $2,400.

How are property taxes in Pierce County calculated?

Property taxes in Bonney Lake, WA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Bonney Lake’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bonney Lake, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Bonney Lake, Pierce County, Washington Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.02%

Estimate Property Tax Bill

$5,180

$4,806

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Bonney Lake Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bonney Lake with just two data points.

By entering your property's estimated assessed value, our calculator applies Bonney Lake’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a more precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Pierce County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Bonney Lake, Pierce County, Washington

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Bonney Lake’s effective property tax rate to other cities in Washington and the median property tax rates in Washington and the U.S.

In Bonney Lake, located in Pierce County, the property tax rate aligns with the national median of 1.02%. This consistency provides a stable environment for property owners, ensuring predictable expenses year over year. Compared to other regions, where rates can fluctuate significantly, Bonney Lake's property tax rate offers reassurance for residents. This stability is crucial for homeowners planning their financial future, as it allows for better budgeting and financial planning. With the national median property tax bill at $2,400, property owners in Bonney Lake can expect similar figures, making it a competitive and attractive location for potential homebuyers.

Property Tax Rates Across Bonney Lake, Pierce County, Washington

Source: Ownwell

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0.67%

1.05%

1.43%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Bonney Lake Tax Rate

1.02%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Pierce County Tax Rate

1.02%

Median Effective Washington Tax Rate

0.88%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Bonney Lake, Pierce County, Washington

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
98321N/AN/AN/AN/AN/A
98390N/AN/AN/AN/AN/A
983910.82%0.98%1.02%1.06%1.10%

Source: Ownwell

Property Tax Assessment Values Across Bonney Lake, Pierce County, Washington

When examining property taxes in Bonney Lake, WA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Pierce County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Pierce County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Bonney Lake.

For example, the median home price in Bonney Lake is $507,800, with tax bills ranging significantly across the county. Zip code 98391 has the highest median home price at $507,800.

Property Tax Assessment Values Across Bonney Lake, Pierce County, Washington

Source: Ownwell

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$25,000

$463,925

$902,850

Median Bonney Lake Market Value

$507,800

Median Pierce County Market Value

$465,900

Median Washington Market Value

$482,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Bonney Lake, Pierce County, Washington

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
98321N/AN/AN/AN/AN/A
98390N/AN/AN/AN/AN/A
98391$273,070$410,500$507,800$621,075$740,100

Source: Ownwell

Property Tax Bills Across Bonney Lake, Pierce County, Washington

In Bonney Lake, located in Pierce County, WA, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in the area is $507,800, which significantly influences the tax bill. Homeowners in Bonney Lake experience a median property tax bill of $4,995, considerably higher than the national median of $2,400. This discrepancy underscores the importance of understanding local tax assessments and potential savings. Factors such as property size, location, and improvements can affect the assessed value, ultimately impacting the tax bill. Homeowners with tax bills in the 25th percentile pay around $3,903, while those in the 75th percentile face bills of approximately $6,288. For those in the 90th percentile, tax bills can reach $7,630. Ownwell offers valuable assistance by helping homeowners navigate the complexities of property tax appeals and exemptions, potentially reducing their tax burden and ensuring they are not overpaying. By leveraging local expertise, Ownwell can identify opportunities for savings and provide peace of mind for property owners.

Property Tax Bills Across Bonney Lake, Pierce County, Washington

Source: Ownwell

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$144

$3,927

$7,710

Median Bonney Lake Tax Bill

$4,995

Median Pierce County Tax Bill

$4,693

Median Washington Tax Bill

$4,284

Median United States Tax Bill

$2,400

Property Tax Bills Across Bonney Lake, Pierce County, Washington

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
98321N/AN/AN/AN/AN/A
98390N/AN/AN/AN/AN/A
98391$1,779$3,903$4,995$6,288$7,632

Source: Ownwell

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