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Lacey, Thurston County, Washington Property Taxes

  • Median Lacey, WA effective property tax rate: 0.94%, slightly lower than the national median of 1.02%, but higher than the Washington state median of 0.88%.

  • Median Lacey, WA home value: $422,400

  • Median annual Lacey, WA tax bill: $3,924, $1,524 higher than the national median property tax bill of $2,400.

How are property taxes in Thurston calculated?

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

Last Updated March 1, 2025

Lacey, Thurston County, Washington Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.94%

Estimate Property Tax Bill

$3,971

$3,685

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Lacey Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lacey with just two data points. By entering your property's estimated assessed value, our calculator applies Lacey’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 Thurston County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lacey, Thurston County, Washington

Local government entities determine tax rates, which can vary significantly within a state. Each year, counties estimate their required budget for services and divide that by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is the essential annual process. In Lacey, located in Thurston County, Washington, the effective property tax rate is 0.94%, which aligns with the county's median tax rate. This rate is slightly below the national median property tax rate of 1.02%. When comparing Lacey to other cities in Washington, it maintains a consistent rate, as both the highest and lowest median tax rates in the area are also 0.94%. While Lacey's property tax rate is lower than the national average, it is important for property owners to explore potential savings through appeals or exemptions. Understanding these rates and how they compare can empower homeowners to make informed decisions about their property taxes.

Property Tax Rates Across Lacey, Thurston County, Washington

Source: Ownwell

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0.71%

0.85%

0.98%

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 Lacey Tax Rate

0.94%

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 Thurston County Tax Rate

0.94%

Median Effective Washington Tax Rate

0.88%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lacey, Thurston County, Washington

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
985030.80%0.91%0.94%0.97%1.01%
985130.89%0.92%0.94%0.95%0.98%
985160.85%0.90%0.94%0.96%0.98%

Source: Ownwell

Property Tax Assessment Values Across Lacey, Thurston County, Washington

When examining property taxes in Lacey, 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 Thurston County Assessor's Office 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 Thurston County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Lacey. For example, the median home price in Lacey is $422,400, with tax bills ranging significantly across the county. Zip code 98516 has the highest median home price at $492,550.

Property Tax Assessment Values Across Lacey, Thurston County, Washington

Source: Ownwell

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$215,450

$363,925

$512,400

Median Lacey Market Value

$422,400

Median Thurston County Market Value

$437,400

Median Washington Market Value

$482,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lacey, Thurston County, Washington

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th 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

Property Tax Bills Across Lacey, Thurston County, Washington

Property tax bills in Lacey, located in Thurston County, WA, are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the final tax bill. Factors such as market trends, property improvements, and location can influence the assessed value. The median home price in Lacey is $422,400, and homeowners in this area can expect a median tax bill higher than the national average of $2,400. For instance, tax bills in Lacey range from the 25th percentile at $3,304 to the 90th percentile at $5,430. This can place a significant financial burden on homeowners, especially when compared to the national median property tax rate of 1.02%. Ownwell assists homeowners by providing professional property tax appeal and exemption services, potentially lowering their tax bills. By analyzing local market data and assessment records, Ownwell identifies opportunities for savings, helping homeowners reduce their financial obligations.

Property Tax Bills Across Lacey, Thurston County, Washington

Source: Ownwell

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$1,513

$3,174

$4,835

Median Lacey Tax Bill

$3,924

Median Thurston County Tax Bill

$4,041

Median Washington Tax Bill

$4,284

Median United States Tax Bill

$2,400

Property Tax Bills Across Lacey, Thurston County, Washington

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th 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

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