Federal Way, WA Property Tax Rates
Compare property tax rates across 2 ZIP codes in Federal Way, Washington.
Avg Tax Rate
0.89%
Avg Annual Tax
$4,330
Avg Home Value
$487,050
ZIP Codes
2
Property Tax Overview: Federal Way, WA
Federal Way has 2 ZIP codes with property tax data. The average effective tax rate across these ZIPs is 0.89%, which is 17% above the Washington average of 0.77%. Annual property taxes range from $4,689 (ZIP 98023) to $3,970 (ZIP 98003).
For a home at Federal Way's median value of $487,050, property taxes add approximately $362/month to housing costs. Federal Way home values are close to the Washington median of $472,159.
Property tax rates within Federal Way vary by 0.07 percentage points across its ZIP codes. This variation typically reflects different school district boundaries, special assessment zones, and municipal service areas within the city.
Federal Way vs Washington Average
Effective Tax Rate
17% above state average
Annual Property Tax
Median Home Value
Frequently Asked Questions
What is the average property tax rate in Federal Way, WA?
The average effective property tax rate in Federal Way, Washington is 0.89%, based on 2 ZIP codes.
How much is property tax in Federal Way, WA?
The average median annual property tax in Federal Way is $4,330 per year, with a median home value of $487,050.
Which ZIP code in Federal Way has the lowest property tax rate?
ZIP code 98023 has the lowest effective tax rate in Federal Way at 0.86%, with a median annual tax of $4,689.
How many ZIP codes are in Federal Way, WA?
Federal Way, Washington has 2 ZIP codes with property tax data available.
Which ZIP code in Federal Way has the highest property tax rate?
ZIP code 98003 has the highest effective tax rate in Federal Way at 0.93%, with a median annual tax of $3,970.
How do Federal Way property taxes compare to the Washington average?
Federal Way's average effective rate of 0.89% is 17% above the Washington state average of 0.77%.
What factors affect property tax rates between ZIP codes in Federal Way?
Property tax rate differences within Federal Way are typically driven by school district boundaries (which can account for 40–60% of a tax bill), special assessment zones for fire, water, or transit services, and whether a ZIP falls within city limits or an unincorporated area. Each taxing jurisdiction sets its own rate, which is why adjacent ZIP codes can have noticeably different effective rates.
Tips for Federal Way Homeowners
- •Appeal your assessment: If your home is assessed higher than its market value, you can file a property tax appeal. Studies suggest 30–60% of properties are over-assessed. Most counties offer a free informal review process.
- •Check your exemptions: Homestead exemptions can reduce your taxable value and are available to primary residents in most states. Senior, veteran, and disability exemptions may also apply. Exemptions must typically be applied for — they are not automatic.
- •Know your assessment cycle: Washington reassesses properties periodically. After buying a home, your next tax bill may reflect a new assessment based on your purchase price. Budget accordingly, especially if you bought above prior assessed values.
- •Compare ZIP codes before buying: Even within Federal Way, effective tax rates can vary significantly across ZIP codes due to different school district overlays. Use PropertyTaxByZip to compare specific ZIPs before choosing a neighborhood.
Other Cities in Washington
Looking for county-level property tax data? View King County on TaxByCounty.com
Data from U.S. Census Bureau, American Community Survey 2019-2023 5-Year Estimates (ZCTA level). ZIP Code Tabulation Areas (ZCTAs) are Census approximations of USPS ZIP codes.
Estimates are informational only and should not be used as financial or legal advice.