Purgitsville, West Virginia Property Taxes
The median property tax rate in Purgitsville, WV is 0.52%, 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 $98,000 in Purgitsville, the typical annual property tax bill amounts to $511, which is well below the national median of $2,690. Property taxes in Purgitsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Purgitsville'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 Purgitsville or another part of Hampshire County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Purgitsville, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$510
Ownwell’s Purgitsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Purgitsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Purgitsville 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 Purgitsville, West Virginia
Property taxes in Purgitsville, West Virginia, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Purgitsville is 0.52%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Purgitsville set these rates annually, and they can vary across different neighborhoods. Each year, Purgitsville 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 Purgitsville's effective property tax rate to other areas in Hampshire County and the national median. For comparison, the zip code 26852 has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these areas compare with Purgitsville provides valuable insights into the varying tax landscape across Hampshire County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Purgitsville Tax Rate
0.52%
Average Hampshire County Tax Rate
0.52%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Purgitsville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26852 | 0.33% | 0.52% | 0.52% | 0.52% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Purgitsville, West Virginia
In Purgitsville, 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 Hampshire 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 Purgitsville, 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. The median home price in Purgitsville is $98,000, with the tax bill ranging from $320 at the 25th percentile to $1,087 at the 90th percentile. 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 Purgitsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Purgitsville, West Virginia
Source: Ownwell
$61,800
$203,650
$345,500
Average Purgitsville Assessed Value
$98,000
Average Hampshire County Assessed Value
$102,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Purgitsville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26852 | $35,200 | $63,700 | $98,000 | $137,000 | $199,980 |
Source: Ownwell
Property Tax Bills Across Purgitsville, West Virginia
In Purgitsville, Hampshire County, WV, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $98,000. To determine the tax bill, the county assesses the property value and applies the local tax rate. Factors such as property size, location, and improvements are considered in the assessment process. Homeowners in Purgitsville can expect their property tax bills to vary significantly. The tax bill for the 25th percentile is about $320, while those in the 75th percentile pay around $726. At the 90th percentile, the tax bill can reach up to $1,087. The highest and lowest median tax bills in the area are both $511, indicating a relatively consistent tax rate across different properties. Compared to the national median property tax rate of 0.99%, Purgitsville offers a more affordable option for homeowners, which can make a significant difference in annual expenses. Understanding these factors helps homeowners plan their finances and manage their property investments effectively.
Average Purgitsville Tax Bill
$511
Average Hampshire County Tax Bill
$567
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Purgitsville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26852 | $200 | $320 | $511 | $726 | $1,087 |
Source: Ownwell