Average Tax Assessment in Thurston County
Real Estate Values and Property Tax Valuation in Thurston County, Washington
Thurston County has 98,839 properties with a cumulative value of $37.1B, representing 3.25% of all real estate value in Washington. Property taxes in Thurston County totaled $411.3M, with the average homeowner paying $4,211 in property taxes, which is lower than the state average of $4,796. The average property tax rate in Thurston County is 1.11%, higher than the state average of 1.01%. Properties are valued for tax purposes based on their assessed value, which is typically lower than the market value.
The property tax timeline in Washington begins on January 1st when the property valuation date is set. Property value notices are issued from May to December and the property tax appeal deadline is July 1st or 30-60 days after the notice is issued. Finally, property tax bills are issued on February 14th.
Updated November 01, 2023
| Important Links | |
|---|---|
| Thurston Assessor | (360) 867-2200 |
| Thurston Assessor | (402) 385-2251 |
| Thurston Auditor / Recorder | (360) 786-5405 |
| Thurston Register of Deeds | (402) 385-2343 |
| Important Dates | |
|---|---|
| Property Valuation Date: | January 1st |
| Property Value Notices Issued: | May - December |
| Property Tax Appeal Deadline: | July 1st or 30-60 days after notice |
| Property Tax Bills Issued: | February 14th |
| Real Property Tax Bill Due (1st of #): | April 30th |
| Real Property Tax Bill Due (2nd of #): | October 31st |
| Available Exemptions | |
|---|---|
| Senior | Available |
| Disabled | Available |
| Homestead | Not Available |
| Veteran | Available |
| Charitable | Available |
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Real Estate Statistics in Thurston County
Residential Property Taxes by Cities in Thurston County
Thurston County has an average property tax rate of 1.11%, which is slightly lower than the national average of 1.19%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. Property taxes in Thurston County are collected by the county government and used to fund public services such as schools, roads, and public safety.
Property tax rates in Thurston County vary across cities, with Tumwater having the highest effective property tax rate at 1.14%, and Bucoda having the lowest at 0.78%. Property taxes in Thurston County are generally lower than the national average, making it an attractive place to live for those looking to save on taxes. However, it is important to consider the differences in property tax rates across cities when deciding where to buy a home.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Thurston County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bucoda | $56,520 | $112,350 | $159,400 | $218,150 | $304,880 |
| Centralia | $3,940 | $82,200 | $248,600 | $336,850 | $460,180 |
| Lacey | $219,500 | $288,500 | $338,000 | $396,500 | $481,750 |
| Olympia | $180,300 | $290,200 | $382,100 | $501,200 | $665,100 |
| Rainier | $107,890 | $222,250 | $319,400 | $428,000 | $531,010 |
| Rochester | $57,100 | $193,800 | $284,000 | $366,300 | $465,300 |
| Tenino | $84,120 | $196,300 | $300,700 | $407,100 | $526,520 |
| Tumwater | $152,600 | $265,900 | $339,500 | $420,175 | $520,630 |
| Yelm | $117,080 | $222,300 | $304,400 | $390,600 | $509,420 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Thurston County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bucoda | $218 | $705 | $1,306 | $1,726 | $2,579 |
| Centralia | $51 | $674 | $2,560 | $3,442 | $4,758 |
| Lacey | $1,980 | $3,289 | $3,929 | $4,622 | $5,620 |
| Olympia | $1,231 | $3,292 | $4,455 | $5,859 | $7,731 |
| Rainier | $562 | $1,847 | $3,191 | $4,313 | $5,475 |
| Rochester | $390 | $1,590 | $2,873 | $3,725 | $4,800 |
| Tenino | $527 | $1,747 | $2,905 | $4,001 | $5,190 |
| Tumwater | $1,296 | $3,045 | $3,982 | $4,940 | $6,128 |
| Yelm | $650 | $2,153 | $3,265 | $4,217 | $5,506 |
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bucoda | 0.39% | 0.63% | 0.82% | 0.79% | 0.85% |
| Centralia | 1.29% | 0.82% | 1.03% | 1.02% | 1.03% |
| Lacey | 0.90% | 1.14% | 1.16% | 1.17% | 1.17% |
| Olympia | 0.68% | 1.13% | 1.17% | 1.17% | 1.16% |
| Rainier | 0.52% | 0.83% | 1.00% | 1.01% | 1.03% |
| Rochester | 0.68% | 0.82% | 1.01% | 1.02% | 1.03% |
| Tenino | 0.63% | 0.89% | 0.97% | 0.98% | 0.99% |
| Tumwater | 0.85% | 1.15% | 1.17% | 1.18% | 1.18% |
| Yelm | 0.56% | 0.97% | 1.07% | 1.08% | 1.08% |
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Real Estate Values in Thurston County
The median home price in Thurston County, Washington decreased by 1.07% from October 2022 to October 2023, from $499.9K to $494.6K. This decrease in home prices was accompanied by a decrease in home inventory, from 720 homes in October 2022 to 556 homes in October 2023. This suggests that the housing market in Thurston County is cooling off, with fewer homes available and lower prices.
Average Home Value in Thurston County, Washington
Last updated: November 2023
Percent Change in Total Home Sales in Thurston County
Last updated: November 2023
Percent Change in New Home Listings in Thurston County
Last updated: November 2023
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Mortgage Rates in Thurston County
Mortgages in Thurston County are a major part of the local economy. According to recent statistics, there is a total of $13.3 billion in outstanding loan amounts across home mortgages in the county. This represents 56.8 thousand outstanding loans, which is a significant portion of the total home value in the area.
The median mortgage rate in Thurston County varies across cities, with Bucoda having the highest rate at 4.6%, and Yelm having the lowest rate at 4.12%. This variation in rates can make a significant difference in the amount of money that homeowners have to pay each month. It is important for potential home buyers to research the different rates in the area before making a decision on where to purchase a home.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Thurston County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bucoda | $33,159 | $62,179 | $134,105 | $213,568 | $293,256 |
| Centralia | $61,002 | $122,420 | $192,449 | $307,934 | $380,577 |
| Lacey | $59,431 | $117,472 | $197,782 | $306,779 | $405,616 |
| Olympia | $60,053 | $114,475 | $204,079 | $314,923 | $425,655 |
| Rainier | $45,918 | $100,750 | $199,252 | $298,030 | $408,872 |
| Rochester | $45,629 | $91,367 | $169,395 | $269,008 | $373,709 |
| Tenino | $48,897 | $93,115 | $181,645 | $291,593 | $415,420 |
| Tumwater | $61,218 | $119,689 | $192,476 | $293,813 | $391,149 |
| Yelm | $61,288 | $122,707 | $217,880 | $332,786 | $422,625 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Thurston County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bucoda | 2.90% | 3.64% | 4.60% | 6.00% | 7.18% |
| Centralia | 2.90% | 3.43% | 4.15% | 5.50% | 6.40% |
| Lacey | 2.90% | 3.58% | 4.25% | 5.86% | 6.90% |
| Olympia | 2.96% | 3.60% | 4.30% | 5.97% | 7.06% |
| Rainier | 2.90% | 3.59% | 4.33% | 6.00% | 7.19% |
| Rochester | 3.00% | 3.68% | 4.40% | 6.11% | 7.13% |
| Tenino | 2.90% | 3.56% | 4.30% | 5.89% | 7.07% |
| Tumwater | 2.95% | 3.59% | 4.28% | 5.72% | 6.88% |
| Yelm | 2.90% | 3.43% | 4.12% | 5.68% | 6.75% |
Housing Expenses in Thurston County, Washington
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