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 2019 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 7.9% percent for a total of $6.382 billion in 2019. New construction value increased $185.4 million, which will result in a $329,163 increase to property taxes. The 2019 levy rate for Lacey residents is $1.0651 per $1,000 of assessed property value.