Wyatt, West Virginia Property Taxes
The median property tax rate in Wyatt, WV is 1.28%, considerably higher than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Wyatt at $21,900, the typical annual property tax bill reaches $258, which is lower than the national median of $2,690. Property taxes in Wyatt are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wyatt'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 Wyatt 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
Wyatt, 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 Wyatt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wyatt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wyatt 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 Wyatt, West Virginia
Property taxes in Wyatt, 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 Wyatt is 0.56%, which is lower than both the West Virginia state median of 0.59% and the U.S. national median of 0.99%. Local government entities within Wyatt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wyatt 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. Understanding how Wyatt's effective property tax rate compares with other counties in West Virginia and the national median offers 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 Wyatt Tax Rate
1.28%
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 Wyatt, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26463 | 0.25% | 0.70% | 1.28% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Wyatt, West Virginia
In Wyatt, 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's Office 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 Wyatt, 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 Wyatt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the 26463 zip code is $258.00, while the lowest is also $258.00, highlighting a significant range in property tax bills within the area.
Average Wyatt Assessed Value
$21,900
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 Wyatt, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26463 | $5,840 | $7,150 | $21,900 | $46,375 | $101,880 |
Source: Ownwell
Property Tax Bills Across Wyatt, West Virginia
In Wyatt, Harrison County, WV, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is a percentage of the property's market value, and the tax rate is applied to this assessed value. The median home price in Wyatt stands at $21,900, with property tax rates generally lower than the national median of 0.99%. Homeowners in Wyatt can expect property tax bills to vary significantly. For instance, tax bills at the 25th percentile are around $85, while those at the 75th percentile reach $566. At the 90th percentile, tax bills can go up to $711. These variations are influenced by factors such as property size, location, and any applicable exemptions or deductions. Understanding how these elements impact property tax calculations is crucial for homeowners, as it affects their annual financial planning and overall property affordability. Comparing this with the highest median tax bill of $258 in the county provides a clearer picture of the local tax landscape.
Average Wyatt Tax Bill
$258
Average Harrison County Tax Bill
$688
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Wyatt, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26463 | $65 | $85 | $258 | $566 | $711 |
Source: Ownwell