Bramwell, West Virginia Property Taxes
The median property tax rate in Bramwell, WV is 0.83%, 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 $22,850 in Bramwell, the typical annual property tax bill amounts to $217, significantly below the national median of $2,690. Property taxes in Bramwell are calculated based on the assessed value, which generally falls below market value due to exemptions like the primary residence and agricultural exemptions. Understanding Bramwell'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 Bramwell 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
Bramwell, 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 Bramwell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bramwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bramwell 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 Bramwell, West Virginia
Property taxes in Bramwell, West Virginia, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Bramwell is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Bramwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bramwell 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 Bramwell's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 24715 has both the highest and lowest median property tax rate of 0.83%. Understanding how these areas compare with Bramwell provides valuable insights into the varying tax landscape across Mercer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bramwell Tax Rate
0.83%
Average Mercer County Tax Rate
0.68%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bramwell, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24715 | 0.68% | 0.68% | 0.83% | 0.83% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Bramwell, West Virginia
In Bramwell, 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 Mercer County Appraisal District 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 Bramwell, 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 Bramwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Bramwell is $217 in zip code 24715, which is significantly lower than the national median property tax rate of 0.99%.
Average Bramwell Assessed Value
$22,850
Average Mercer County Assessed Value
$60,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bramwell, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24715 | $4,850 | $12,625 | $22,850 | $47,100 | $121,150 |
Source: Ownwell
Property Tax Bills Across Bramwell, West Virginia
In Bramwell, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by local tax assessors and reflects a percentage of the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual tax bill. The property tax rate in Bramwell is influenced by various factors, including local government budgets and funding needs for public services such as schools and infrastructure. Homeowners in Bramwell can expect varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is approximately $105, while the 75th percentile tax bill is around $493. At the higher end, the 90th percentile tax bill can reach up to $1,266. These figures highlight the range of property tax burdens within the community. Compared to the national median property tax rate of 0.99%, Bramwell's property taxes can be relatively modest, making it a potentially attractive location for homeowners seeking lower property tax obligations.
Average Bramwell Tax Bill
$217
Average Mercer County Tax Bill
$442
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Bramwell, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24715 | $54 | $105 | $217 | $493 | $1,266 |
Source: Ownwell