TAXES & CITY FINANCES
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 2021 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 increased 4.1% percent for a total of $7.8812 billion in 2021. New construction value increased $311.8 million, which will result in a $306,555 increase to property taxes. The 2021 levy rate for Lacey residents is $0.9628 per $1,000 of assessed property value.