98499 Property Tax Rate

Property owners in ZIP code 98499 (Lakewood, Washington) pay a median of $3,672/year in property taxes on homes valued at $370,000. This translates to an effective tax rate of 0.99%, which is 30% above the Washington state average of 0.77%.

The monthly property tax burden for a median-valued home in 98499 is approximately $306, which factors into escrow payments on mortgages. This ZIP code is located within Pierce County.

Compared to similar ZIP codes in Washington, 98499 has higher property taxes. ZIP codes with similar effective rates include 98168 (0.99%) and 98512 (0.99%).

In Lakewood, property taxes represent approximately 5.6% of the median household income of $65,000, providing context for the relative tax burden on homeowners in this area.

Washington reassesses at market value upon sale with no growth cap; Pierce County Assessor will revalue your home to purchase price, and assessed value may rise annually without limit. Pierce County residents age 61+ or disabled with household income below the state threshold (approximately $40,000–$45,000) may claim the Senior/Disabled Property Tax Exemption to exempt a portion of home value from taxation. File your exemption application with the Pierce County Assessor by March 31 to ensure the benefit applies to your tax year; applicants missing the deadline must wait until the following year.