Bethany, West Virginia Property Taxes
The median property tax rate in Bethany, WV is 0.69%, which is notably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Bethany at $97,200, the typical annual property tax bill amounts to $662, significantly below the national median of $2,690. Property taxes in Bethany are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Bethany'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 Bethany or another part of the city, a thorough grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bethany, 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 Bethany Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Bethany with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bethany 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 Bethany, West Virginia
Property taxes in Bethany, 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 Bethany is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Bethany set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bethany 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 Bethany's effective property tax rate to other areas in Ohio County and the national median. For comparison, the zip code 26032 has the highest median property tax rate of 0.69%, while the same zip code also has the lowest median tax rate of 0.69%. Understanding how these areas compare with Bethany provides valuable insights into the varying tax landscape across Ohio County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bethany Tax Rate
0.69%
Average Ohio County Tax Rate
0.89%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bethany, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26032 | 0.37% | 0.52% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Bethany, West Virginia
In Bethany, 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 Ohio 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 Bethany, 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 Bethany helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both found in zip code 26032, with a value of $662.
Average Bethany Assessed Value
$97,200
Average Ohio County Assessed Value
$94,700
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bethany, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26032 | $46,300 | $72,000 | $97,200 | $129,800 | $154,300 |
Source: Ownwell
Property Tax Bills Across Bethany, West Virginia
In Bethany, Ohio County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to arrive at the annual tax bill. For homeowners in Bethany, the median home price is $97,200. The property tax rate in Bethany is relatively moderate compared to the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the home's location, size, and any applicable exemptions. The tax bill can vary significantly; for example, the 25th percentile tax bill is $321, while the 75th percentile reaches $779, and the 90th percentile can go up to $1069. These variations highlight how different factors can affect the amount homeowners need to pay. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Bethany Tax Bill
$662
Average Ohio County Tax Bill
$851
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Bethany, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26032 | $201 | $321 | $662 | $779 | $1,069 |
Source: Ownwell