West Milford, West Virginia Property Taxes
The median property tax rate in West Milford, WV is 0.85%, which is lower than the national median of 0.99% but higher than the West Virginia state median of 0.72%. With a median home value of $77,900 in West Milford, the typical annual property tax bill is $649, significantly below the national median of $2,690. Property taxes in West Milford 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 West Milford's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of West Milford or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
West Milford, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$662
Ownwell’s WEST MILFORD Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in WEST MILFORD. By simply entering your property's estimated assessed value, the calculator applies the median tax rate specific to WEST MILFORD, providing you with an accurate estimate of your property tax bill. This user-friendly tool helps you understand your potential tax liabilities with ease. For those interested in more detailed trends at a neighborhood level, additional localized information is available by scrolling down. Remember, your property’s assessed value is determined by the county for tax calculations and includes any applicable exemptions.
Property Tax Rates Across West Milford, West Virginia
Property taxes in West Milford, West Virginia, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in West Milford is 0.57%, which is lower than both the West Virginia state median of 0.57% and the U.S. national median of 0.99%. Local government entities within West Milford set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Milford 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 West Milford's effective property tax rate to other counties in West Virginia and the national median. For comparison, the highest median property tax rate in Harrison County is 0.57%, while the lowest median tax rate is also 0.57%. Understanding how these cities compare with West Milford 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 West Milford Tax Rate
0.85%
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 West Milford, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26451 | 0.48% | 0.85% | 0.85% | 0.85% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across West Milford, West Virginia
In West Milford, 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 West Milford, 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 West Milford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 26451 has the highest median tax bill of $649.00, while the lowest median tax bill also falls in the same zip code.
Property Tax Assessment Values Across West Milford, West Virginia
Source: Ownwell
$6,500
$99,925
$193,350
Average West Milford Assessed Value
$77,900
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 West Milford, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26451 | $18,820 | $48,400 | $77,900 | $97,700 | $124,380 |
Source: Ownwell
Property Tax Bills Across West Milford, West Virginia
In West Milford, Harrison County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is applied to this assessed value to determine the annual property tax bill. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value, leading to variations in tax bills. For homeowners in West Milford, the median home price is $77,900. The property tax bill can range significantly, with the 25th percentile at $371 and the 75th percentile reaching $867. At the 90th percentile, homeowners might see tax bills as high as $1,230. These figures highlight the variability in property tax burdens within the area. Comparatively, the national median property tax rate is 0.99%, so homeowners in West Milford may find their tax rates relatively manageable. Understanding these calculations helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average West Milford Tax Bill
$649
Average Harrison County Tax Bill
$688
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across West Milford, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26451 | $194 | $371 | $649 | $867 | $1,230 |
Source: Ownwell