Pierce County Home Values Dip 1%; Commercial Soars 3%

Residential property values in Pierce County have declined by 1% as of this year, contrasting with a 3% increase in commercial property values, according to the Assessor-Treasurer's office. This shift aligns with national trends, where single-digit home value increases are common. The average home price in Pierce County is now $524,488, a decrease from the previous year. Some specific areas within the county, such as Carbonado, Fircrest, and Steilacoom, reported significant residential property value increases, while Ruston, Dupont, and Fife saw the largest decreases.

Commercial properties, particularly warehouse, light industrial, retail, and office spaces, have shown growth across Tacoma, Lakewood, Puyallup, and Sumner. These property values form the basis for annual property taxes. Exemptions are available for individuals aged 61 and older or those with disabilities who earn under $64,000 annually, with this cap increasing to $85,000 starting in 2027. Property owners have until August 25 to appeal their assessed property values for the current year.