Upper Tract, West Virginia Property Taxes
The median property tax rate in UPPER TRACT, WV is 0.48%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $149,600 in UPPER TRACT, the typical annual property tax bill is $720, well below the national median of $2,690. Property taxes in UPPER TRACT are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding UPPER TRACT'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 UPPER TRACT or another part of Grant County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Upper Tract, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$718
Ownwell’s UPPER TRACT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in UPPER TRACT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in UPPER TRACT 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 Upper Tract, West Virginia
Property taxes in UPPER TRACT, WV, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in UPPER TRACT is 0.48%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within UPPER TRACT set these rates annually, and they can vary significantly across different neighborhoods. Each year, UPPER TRACT 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 UPPER TRACT's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26866 zip code has the highest median property tax rate of 0.48%, while the same 26866 zip code has the lowest median tax rate of 0.48%. Understanding how these cities compare with UPPER TRACT provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Upper Tract Tax Rate
0.48%
Average Grant County Tax Rate
0.48%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Upper Tract, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26866 | 0.27% | 0.48% | 0.48% | 0.48% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Upper Tract, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Upper Tract, WV. 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 Grant 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. 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 Upper Tract helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Upper Tract, the median home price is $149,600. The median tax bill in the zip code 26866 is $720. The 25th percentile tax bill stands at $348, while the 75th percentile tax bill is $1156, and the 90th percentile tax bill reaches $2137.
Property Tax Assessment Values Across Upper Tract, West Virginia
Source: Ownwell
$32,100
$90,850
$149,600
Average Upper Tract Assessed Value
$149,600
Average Grant County Assessed Value
$73,700
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Upper Tract, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26866 | $40,600 | $68,250 | $149,600 | $239,900 | $283,500 |
Source: Ownwell
Property Tax Bills Across Upper Tract, West Virginia
In UPPER TRACT, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Grant County. The assessed value is a percentage of the property's market value, which is determined by the county's assessment office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, in Grant County, homeowners can expect a median tax bill around $720.00, which is relatively consistent across the county. Several factors influence the property tax bill, including the home's location, size, and any improvements made. Homeowners in UPPER TRACT may see tax bills ranging from $348 at the 25th percentile to $2137 at the 90th percentile, reflecting variations in property values and assessments. This tax burden can significantly impact homeowners, affecting their monthly expenses and long-term financial planning. With the national median property tax rate at 0.99%, Grant County's rates offer a point of comparison for residents evaluating their tax obligations.
Average Upper Tract Tax Bill
$720
Average Grant County Tax Bill
$353
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Upper Tract, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26866 | $83 | $348 | $720 | $1,156 | $2,137 |
Source: Ownwell