East Olympia, Washington Property Taxes
The median property tax rate in East Olympia, WA is 1.09%, higher than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $407,000 in East Olympia, the typical annual property tax bill reaches $4,443, significantly exceeding the national median of $2,690. Property taxes in East Olympia are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding East Olympia'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 East Olympia 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
East Olympia, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$444
$433
$1,148
Average East Olympia, Washington Tax Savings
Ownwell’s East Olympia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Olympia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Olympia 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 East Olympia. 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 East Olympia, Washington
Property taxes in East Olympia, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Olympia is 1.09%, higher than both the Washington state median and the U.S. national median of 0.99%. Local government entities within East Olympia set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Olympia 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 East Olympia's effective property tax rate to other counties in Washington and the national median. For comparison, the 98540 zip code has the highest median property tax rate of 1.09%, while the 98540 zip code has the lowest median tax rate of 1.09%. Understanding how these cities compare with East Olympia 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 East Olympia Tax Rate
1.09%
Average Thurston County Tax Rate
0.94%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Olympia, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98540 | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% |
Source: Ownwell
$1,148
Average East Olympia Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across East Olympia, Washington
In East Olympia, 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 Appraisal District 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 East Olympia, 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. The median home price in Thurston County is $40,700, with tax bills ranging from $443 at the 25th percentile to $443 at the 90th percentile. The highest and lowest median tax bills are both $443, found in the 98540 zip code. Being aware of these valuation processes in East Olympia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across East Olympia, Washington
Source: Ownwell
$40,700
$404,850
$769,000
Average East Olympia Assessed Value
$40,700
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 East Olympia, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98540 | $40,700 | $40,700 | $40,700 | $40,700 | $40,700 |
Source: Ownwell
$1,148
Average East Olympia Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across East Olympia, Washington
In East Olympia, Thurston County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The tax rate is applied to this assessed value to calculate the annual tax bill. With a median home price of $40,700, homeowners in East Olympia face a consistent median tax bill of $443, which aligns with both the 25th and 75th percentiles, indicating uniformity in tax charges. Several factors influence the tax bill, including property location, home improvements, and local government budgets. These taxes significantly impact homeowners, as they contribute to essential public services like schools, roads, and emergency services. Ownwell can assist homeowners in East Olympia by ensuring their property is accurately assessed and identifying potential exemptions or errors in the assessment. By appealing unfair assessments and securing eligible exemptions, Ownwell helps homeowners reduce their property tax bills, providing substantial savings and financial relief.
Average East Olympia Tax Bill
$443
Average Thurston County Tax Bill
$4,041
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across East Olympia, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98540 | $443 | $443 | $443 | $443 | $443 |
Source: Ownwell
$1,148
Average East Olympia 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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