Barnabus, West Virginia Property Taxes
The median property tax rate in Barnabus, WV is 0.41%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Barnabus, the typical annual property tax bill is just $18, far below the national median of $2,690. Property taxes in Barnabus 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 Barnabus'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 Barnabus or another part of Logan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Barnabus, 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 Barnabus Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Barnabus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barnabus 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 Barnabus, West Virginia
Property taxes in Barnabus, 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 Barnabus is 0.41%, significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Barnabus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barnabus 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 Barnabus's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25638 zip code has both the highest and lowest median property tax rate of 0.41%. Understanding how these areas compare with Barnabus provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barnabus Tax Rate
0.41%
Average Logan County Tax Rate
0.75%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barnabus, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25638 | 0.13% | 0.23% | 0.41% | 0.58% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Barnabus, West Virginia
In Barnabus, 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 Logan 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 Barnabus, 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 Barnabus is $19,000. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The zip codes with the highest and lowest tax bills are 25606 and 25607, with tax bills of $21 and $15 respectively. Being aware of these valuation processes in Barnabus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Barnabus Assessed Value
$19,000
Average Logan County Assessed Value
$40,900
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barnabus, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25638 | $5,160 | $10,350 | $19,000 | $27,650 | $32,840 |
Source: Ownwell
Property Tax Bills Across Barnabus, West Virginia
In Barnabus, Logan County, WV, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the market value determined by the local tax assessor. Homeowners in Barnabus typically see property tax bills that reflect a range of values depending on their property's specific characteristics and location. For instance, the median home price in Barnabus is $19,000. Property tax bills can vary widely, with the 25th percentile paying around $15, while those in the 75th percentile pay approximately $20, and the 90th percentile sees bills close to $21. These figures illustrate the relatively low property tax burden in Barnabus compared to the national median property tax rate of 0.99%. This lower tax rate can be beneficial for homeowners, making it more affordable to own property in Barnabus. However, it's essential for homeowners to understand that their tax bill can fluctuate based on changes in the assessed value and any adjustments in local tax rates.
Average Barnabus Tax Bill
$18
Average Logan County Tax Bill
$306
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Barnabus, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25638 | $14 | $15 | $18 | $20 | $21 |
Source: Ownwell