Jane Lew, West Virginia Property Taxes
The median property tax rate in Jane Lew, WV is 0.70%, slightly lower than the state median of 0.72% and well below the national median of 0.99%. With a median home value of $114,300 in Jane Lew, the typical annual property tax bill amounts to $784, which is significantly less than the national median of $2,690. Property taxes in Jane Lew are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Jane Lew'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 Jane Lew or another part of Harrison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jane Lew, 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 Jane Lew Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jane Lew with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jane Lew 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 Jane Lew, West Virginia
Property taxes in Jane Lew, West Virginia, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Jane Lew is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Jane Lew set these rates annually, and they can vary across different neighborhoods. Each year, Jane Lew 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 Jane Lew's effective property tax rate to other areas and the national median. For comparison, the zip code 26378 has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these areas compare with Jane Lew provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jane Lew Tax Rate
0.70%
Average Harrison County Tax Rate
0.74%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jane Lew, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26378 | 0.48% | 0.58% | 0.70% | 0.70% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Jane Lew, West Virginia
In Jane Lew, 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 Harrison 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 Jane Lew, 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 Jane Lew helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $784.00, as seen in zip code 26378.
Average Jane Lew Assessed Value
$114,300
Average Harrison County Assessed Value
$76,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jane Lew, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26378 | $19,400 | $76,800 | $114,300 | $169,625 | $229,370 |
Source: Ownwell
Property Tax Bills Across Jane Lew, West Virginia
In Jane Lew, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $114,300 in Jane Lew, the property tax rate in Harrison County results in varying tax bills. Homeowners in the 25th percentile can expect a tax bill around $493, while those in the 75th percentile might see bills closer to $1,183. At the 90th percentile, tax bills can reach up to $1,555. These figures illustrate how property taxes can significantly impact homeowners' finances. Compared to the national median property tax rate of 0.99%, the property tax rate in Jane Lew offers a range that reflects both lower and higher tax burdens, depending on the assessed value of the home.
Average Jane Lew Tax Bill
$784
Average Harrison County Tax Bill
$688
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Jane Lew, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26378 | $200 | $493 | $784 | $1,183 | $1,555 |
Source: Ownwell