Berryville, West Virginia Property Taxes
The median property tax rate in Berryville, WV is 0.70%, which is notably lower than the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Berryville, the typical annual property tax bill reaches $2,239, falling below the national median of $2,690. Property taxes in Berryville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Berryville'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 Berryville 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
Berryville, 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 Berryville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Berryville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Berryville 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 Berryville, West Virginia
Property taxes in Berryville, West Virginia, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Berryville is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Berryville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Berryville 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 Berryville's effective property tax rate to other areas in Jefferson County and the national median. For comparison, the zip code 22611 has both the highest and lowest median property tax rate of 0.70%. Understanding how these areas compare with Berryville provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Berryville Tax Rate
0.70%
Average Jefferson County Tax Rate
0.70%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Berryville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22611 | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Berryville, West Virginia
In Berryville, 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 Jefferson 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 Berryville, 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 Berryville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 22611, with a median tax bill of $2,239.
Property Tax Assessment Values Across Berryville, West Virginia
Source: Ownwell
$121,900
$238,400
$354,900
Average Berryville Assessed Value
$319,400
Average Jefferson County Assessed Value
$267,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Berryville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22611 | $315,800 | $317,150 | $319,400 | $321,650 | $323,000 |
Source: Ownwell
Property Tax Bills Across Berryville, West Virginia
In Berryville, Jefferson County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the final tax bill. Factors such as the home's market value, location, and any applicable exemptions or deductions play a crucial role in this calculation. For homeowners in Berryville, the median home price is $319,400, with tax bills typically ranging from $2,223 at the 25th percentile to $2,264 at the 90th percentile. These figures indicate that property taxes in Berryville are relatively consistent and can be a significant financial consideration for homeowners. Compared to the national median property tax rate of 0.99%, Berryville's tax rates reflect the local economic conditions and fiscal policies. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Berryville Tax Bill
$2,239
Average Jefferson County Tax Bill
$2,072
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Berryville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22611 | $2,214 | $2,223 | $2,239 | $2,255 | $2,264 |
Source: Ownwell