Property Tax Funds

Property tax and sales tax revenues are the dominant income sources for the city's General Fund. The property tax levy for 2012 was determined by calculating the one percent allowable limitation from Initiative 747 and adjusting for the value of new construction and refunds.

Preliminary values issued by Thurston County Assessor's office indicate that Lacey's total assessed value decreased 7 percent for a total of $4.32 billion in 2012. New construction value increased $64.5 million, which is significant to offset the overall decrease in assessment of property values. The 2012 levy rate for Lacey residents is $1.1982 per $1,000 of assessed property value.