Olympia, Thurston County, Washington Property Taxes
Property Taxes in Olympia, Washington
Median Olympia, Washington effective property tax rate: 0.96%, slightly lower than the national median of 1.02%, and higher than the Washington state median of 0.92%.
Median Olympia, Washington home value: $494,900
Median annual Olympia, Washington tax bill: $4,702, $2,302 higher than the national median property tax bill of $2,400.
How are property taxes in Thurston County calculated?
Property taxes in Olympia, Washington 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 Olympia's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Olympia, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Olympia, Thurston County, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.96%
Estimate Property Tax Bill
$4,751
$4,409
$774
Average Annual Tax Savings
How Does the Olympia Property Tax Calculator Work?
Use this Olympia property tax calculator to estimate your annual tax bill. Enter your property's assessed value and our calculator applies Olympia's median effective tax rate of 0.96% — based on actual property records in Thurston County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Olympia's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Olympia: rates range from $4,161.00 in 98513 to $4,951.00 in 98502, primarily due to differences in school district levies and local assessment districts. Olympia's median tax bill of $4,702 is higher than the national median property tax bill of $2,400, while Washington's median tax bill is $2,302 lower.
If your estimate is higher than expected, Ownwell can appeal your Olympia assessment — you only pay if we save you money.
About Olympia Property Taxes
About Property Taxes in Olympia, Thurston, Washington
Olympia’s median effective property tax rate of 0.96% is lower than the Washington state median of 0.92% and higher than the national median of 1.02%. This rate reflects the Thurston County base levy combined with local school district levies and Local improvement districts (LIDs) that vary by subdivision throughout the city.
Property tax rates are not uniform across Olympia. Homeowners in the 98512 ZIP code carry a median effective rate of 0.99%, while those in 98503 pay 0.90%. This spread — 0.09 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Thurston County. Understanding which part of Olympia you live in can make a meaningful difference to your annual tax bill.
Olympia homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the December 9, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Olympia, Thurston County, Washington
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Olympia's effective property tax rate to other cities in Washington and the median property tax rates in Washington and the U.S.
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 Olympia Tax Rate
0.96%
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
0.93%
Median Effective Washington Tax Rate
0.92%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Olympia, Thurston County, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98501 | 0.82% | 0.94% | 0.99% | 1.02% | 1.06% |
| 98502 | 0.70% | 0.77% | 0.99% | 1.02% | 1.08% |
| 98503 | 0.86% | 0.88% | 0.90% | 0.96% | 1.03% |
| 98506 | 0.77% | 0.93% | 0.98% | 1.01% | 1.03% |
| 98512 | 0.74% | 0.93% | 0.99% | 1.04% | 1.08% |
| 98513 | 0.61% | 0.90% | 0.93% | 0.96% | 0.99% |
| 98516 | 0.78% | 0.91% | 0.93% | 0.95% | 0.97% |
| 98597 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
$774
Average Annual Tax Savings
Save on Your Property Taxes and More With Ownwell
Property Tax Assessment Values Across Olympia, Thurston County, Washington
When examining property taxes in Olympia, Washington, 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 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.
Assessment notices:
In Thurston County, assessment notices are sent in October each year. They'll typically reach your mailbox by the middle of October.
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. For example, the median home price in Olympia is $494,900, with tax bills ranging significantly across the county. Zip code 98516 has the highest median home price at $533,850.
Property Tax Assessment Values Across Olympia, Thurston County, Washington
Source: Ownwell
$234,800
$384,325
$533,850
Median Olympia Market Value
$494,900
Median Thurston County Market Value
$459,800
Median Washington Market Value
$501,600
Median United States Market Value
$235,294
Property Tax Assessment Values Across Olympia, Thurston County, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98501 | $308,360 | $418,700 | $501,100 | $621,200 | $754,080 |
| 98502 | $286,420 | $406,800 | $522,000 | $698,600 | $1,047,120 |
| 98503 | $324,760 | $474,000 | $494,500 | $555,000 | $646,260 |
| 98506 | $300,360 | $382,550 | $487,500 | $626,900 | $866,060 |
| 98512 | $150,240 | $347,575 | $488,550 | $614,300 | $781,890 |
| 98513 | $161,580 | $363,500 | $451,300 | $568,700 | $718,600 |
| 98516 | $291,130 | $408,500 | $533,850 | $735,400 | $941,780 |
| 98597 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
$774
Average Annual Tax Savings
Save on Your Property Taxes and More With Ownwell
Property Tax Bills Across Olympia, Thurston County, Washington
Property tax bills in Olympia are calculated by multiplying a home’s assessed value by the local tax rate, then applying any exemptions or special levies. Because taxes are based on assessed value, homes with higher market values often face larger bills. In Thurston County, the median home price is $494,900, and property tax bills can vary widely across the city. The 25th percentile bill is $3,499, while the 75th percentile is $6,073. The highest median tax bill is $4,951 in ZIP code 98502, compared with $4,161 in ZIP code 98513.
For homeowners, that means a property tax bill can be a major annual expense, especially when assessments rise faster than expected. Compared with the national median property tax bill of $2,400, Olympia homeowners often pay more, which makes it important to review your assessment carefully.
Ownwell can help homeowners lower their property tax bills by identifying overassessments, filing appeals, and finding exemptions that may reduce what you owe.
Median Olympia Tax Bill
$4,702
Median Thurston County Tax Bill
$4,232
Median Washington Tax Bill
$4,512
Median United States Tax Bill
$2,400
Property Tax Bills Across Olympia, Thurston County, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98501 | $2,038 | $3,993 | $4,910 | $6,087 | $7,456 |
| 98502 | $1,990 | $3,606 | $4,951 | $6,476 | $9,330 |
| 98503 | $2,891 | $4,247 | $4,406 | $5,580 | $6,153 |
| 98506 | $1,616 | $3,529 | $4,646 | $6,037 | $8,373 |
| 98512 | $718 | $3,005 | $4,717 | $6,088 | $7,811 |
| 98513 | $679 | $3,214 | $4,161 | $5,225 | $6,763 |
| 98516 | $928 | $3,644 | $4,903 | $6,823 | $8,713 |
| 98597 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
$774
Average Annual Tax Savings
Save on Your Property Taxes and More With Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | December 9 |
| 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 |