Beech Bottom, West Virginia Property Taxes
The median property tax rate in Beech Bottom, WV is 0.95%, slightly below the national median of 0.99% but higher than the West Virginia state median of 0.72%. With a median home value of $31,500 in Beech Bottom, the typical annual property tax bill is approximately $308, which is significantly lower than the national median of $2,690. Property taxes in Beech Bottom are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Beech Bottom's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Beech Bottom or another part of Brooke County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Beech Bottom, West Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,440
Ownwell’s Beech Bottom Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beech Bottom with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beech Bottom to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Beech Bottom, West Virginia
Property taxes in Beech Bottom, West Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beech Bottom is 0.95%, which is lower than the U.S. national median of 0.99%. Local government entities within Beech Bottom set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beech Bottom estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Beech Bottom's effective property tax rate to other regions in West Virginia and the national median. For comparison, the 26030 zip code has both the highest and lowest median property tax rate in the area, standing at 0.95%. Understanding how these cities compare with Beech Bottom provides valuable insights into the varying tax landscape across Brooke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beech Bottom Tax Rate
0.95%
Average Brooke County Tax Rate
0.80%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beech Bottom, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26030 | 0.20% | 0.95% | 0.95% | 1.89% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Beech Bottom, West Virginia
In Beech Bottom, West Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Brooke County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Beech Bottom, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Beech Bottom helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 26030, with a median tax bill of $308.
Property Tax Assessment Values Across Beech Bottom, West Virginia
Source: Ownwell
$21,400
$65,300
$109,200
Average Beech Bottom Assessed Value
$31,500
Average Brooke County Assessed Value
$65,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beech Bottom, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26030 | $13,420 | $22,250 | $31,500 | $42,750 | $54,520 |
Source: Ownwell
Property Tax Bills Across Beech Bottom, West Virginia
In Beech Bottom, located in Brooke County, WV, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Beech Bottom is $31,500. The local property tax rate is applied to this assessed value to determine the annual tax bill. Various factors, such as property improvements and market fluctuations, can influence the assessed value, thereby impacting the tax amount. Homeowners in Beech Bottom can expect their tax bills to vary. The 25th percentile tax bill is around $134, while the 75th percentile tax bill is approximately $441. For those in the 90th percentile, the tax bill can reach up to $551. Compared to the national median property tax rate of 0.99%, Beech Bottom's property taxes are relatively modest. This lower tax burden can make homeownership more affordable, but it's crucial for homeowners to stay informed about potential changes in property assessments and tax rates that could affect their annual tax bills.
Average Beech Bottom Tax Bill
$308
Average Brooke County Tax Bill
$517
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Beech Bottom, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26030 | $62 | $134 | $308 | $441 | $551 |
Source: Ownwell