How Property Tax Works
Pierce County, Washington operates a comprehensive property tax system that funds essential local services including schools, fire protection, emergency medical services, libraries, parks, and county operations. Property taxes are the primary funding source for these vital community services, with tax statements mailed to over 350,000 property owners annually in February. The county has 329,365 real property parcels, making it one of Washington's largest property tax jurisdictions.
Washington state law limits each taxing district to a one percent annual increase in property tax revenue unless voters approve additional increases. This means that even if your property value increases, your taxes may not rise proportionally. Instead, the 2024 assessed values determine each property owner's fair share of the total taxes to be collected in 2025. Pierce County's assessment ratio stands at 90.9% for real property, indicating that assessed values typically reflect about 91% of market value. The county's total taxable real property value increased from $197.5 billion to $203.7 billion in the most recent assessment cycle, demonstrating continued growth in the regional real estate market.