Yelm, Washington Property Taxes
The median property tax rate in Yelm, WA is 0.91%, 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 $382,200 in Yelm, the typical annual property tax bill reaches $3,403, surpassing the national median of $2,690. Property taxes in Yelm are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Yelm'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 Yelm 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
Yelm, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$3,478
$3,398
$1,148
Average Yelm, Washington Tax Savings
Ownwell’s Yelm Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yelm with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yelm 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 Yelm. 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 Yelm, Washington
Property taxes in Yelm, Washington, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yelm is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Yelm set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yelm 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 Yelm's effective property tax rate to other counties in Washington and the national median. For comparison, the 98597 zip code has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with Yelm 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 Yelm Tax Rate
0.91%
Average Thurston County Tax Rate
0.94%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yelm, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98597 | 0.67% | 0.87% | 0.91% | 0.95% | 1.00% |
Source: Ownwell
$1,148
Average Yelm Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Yelm, Washington
In Yelm, 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 Yelm, 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 Yelm helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 98597 has the highest and lowest median tax bill at $3,403.
Average Yelm Assessed Value
$382,200
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 Yelm, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98597 | $147,300 | $281,000 | $382,200 | $474,400 | $619,000 |
Source: Ownwell
$1,148
Average Yelm Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Yelm, Washington
Property tax bills in Yelm, located in Thurston County, WA, are calculated based on the assessed value of a property and the local tax rate. The city's median home price is $382,200, and the property tax rate is derived from the county's needs and voter-approved levies. Factors such as property improvements, neighborhood changes, and market trends can significantly impact the assessed value, leading to variations in tax bills. Homeowners in Yelm can see property tax bills ranging from $2,136 at the 25th percentile to $5,697 at the 90th percentile. Compared to the national median property tax rate of 0.99%, Yelm's rates can be a substantial financial burden. This is where Ownwell steps in to help homeowners. By providing professional property tax appeal and exemption services, Ownwell ensures that property assessments are fair and accurate. This can lead to significant savings, reducing the financial strain on homeowners. Trust Ownwell to advocate for your best interests and potentially lower your property tax bills.
Average Yelm Tax Bill
$3,403
Average Thurston County Tax Bill
$4,041
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Yelm, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98597 | $611 | $2,136 | $3,403 | $4,365 | $5,697 |
Source: Ownwell
$1,148
Average Yelm 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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