Tumwater, Washington Property Taxes
The median property tax rate in Tumwater, WA is 0.94%, slightly lower than the national median of 0.99% but higher than the Washington state median of 0.88%. With the median home value in Tumwater at $423,500, the typical annual property tax bill reaches $4,002, significantly surpassing the national median of $2,690. Property taxes in Tumwater are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tumwater'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 Tumwater 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
Tumwater, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$3,981
$3,889
$1,148
Average Tumwater, Washington Tax Savings
Ownwell’s Tumwater Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tumwater with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tumwater 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 Tumwater. 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Tumwater, Washington
Property taxes in Tumwater, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tumwater is 0.94%, which is lower than the U.S. national median of 0.99%. Local government entities within Tumwater set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tumwater 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 Tumwater's effective property tax rate to other areas in Thurston County and the national median. For comparison, the 98501 zip code has the highest median property tax rate of 0.96%, while the 98502 zip code has the lowest median tax rate of 0.89%. Understanding how these areas compare with Tumwater 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 Tumwater 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 Tumwater, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98501 | 0.88% | 0.93% | 0.96% | 0.99% | 1.02% |
| 98502 | 0.82% | 0.84% | 0.89% | 0.91% | 0.93% |
| 98512 | 0.82% | 0.89% | 0.93% | 0.96% | 0.98% |
Source: Ownwell
$1,148
Average Tumwater Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Tumwater, Washington
In Tumwater, 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 Tumwater, 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 Tumwater helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For reference, the zip code with the highest median tax bill in Tumwater is 98501, with a median tax bill of $4,054, while the lowest is 98502, with a median tax bill of $2,846.
Average Tumwater Assessed Value
$423,500
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 Tumwater, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98501 | $262,820 | $369,450 | $427,500 | $520,750 | $618,540 |
| 98502 | $216,700 | $280,000 | $319,300 | $500,300 | $504,140 |
| 98512 | $63,200 | $296,225 | $416,600 | $506,625 | $624,670 |
Source: Ownwell
$1,148
Average Tumwater Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Tumwater, Washington
Property tax bills in Tumwater, located within Thurston County, WA, are calculated based on the assessed value of a homeowner's property and the local tax rate. The median home price in Tumwater is $423,500, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value, which in turn affects the tax bill. Homeowners in Tumwater can expect a wide range of tax bills. For example, the 25th percentile tax bill is about $3,033, while the 75th percentile reaches $4,937. The 90th percentile tax bill can go up to $6,009. The highest median tax bill in the area is $4,054 in the 98501 zip code, whereas the lowest is $2,846 in the 98502 zip code. Ownwell offers valuable assistance by identifying potential errors in property assessments and filing appeals to correct them, helping homeowners save significantly on their property tax bills.
Average Tumwater Tax Bill
$4,002
Average Thurston County Tax Bill
$4,041
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Tumwater, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98501 | $1,878 | $3,321 | $4,054 | $5,033 | $6,115 |
| 98502 | $1,871 | $2,537 | $2,846 | $4,181 | $4,531 |
| 98512 | $519 | $2,579 | $3,925 | $4,821 | $5,820 |
Source: Ownwell
$1,148
Average Tumwater 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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