Hillsboro, West Virginia Property Taxes
The median property tax rate in Hillsboro, WV is 0.39%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $64,050 in Hillsboro, the typical annual property tax bill amounts to $271, well below the national median of $2,690. Property taxes in Hillsboro are calculated based on the assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Hillsboro'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 Hillsboro or another part of Pocahontas County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hillsboro, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$250
Ownwell’s Hillsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hillsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hillsboro 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 Hillsboro, West Virginia
Property taxes in Hillsboro, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hillsboro is 0.39%, significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Hillsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hillsboro 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 Hillsboro's effective property tax rate to other counties in West Virginia and the national median. For comparison, the highest median property tax rate in the state is significantly higher, while the lowest median tax rate is substantially lower. Understanding how these cities compare with Hillsboro provides valuable insights into the varying tax landscape across Pocahontas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hillsboro Tax Rate
0.39%
Average Pocahontas County Tax Rate
0.39%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hillsboro, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24946 | 0.28% | 0.39% | 0.39% | 0.54% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Hillsboro, West Virginia
In Hillsboro, 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 Pocahontas 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 Hillsboro, 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 Hillsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Hillsboro, the highest median tax bill is $271 in zip code 24946, while the lowest is also $271 in the same zip code.
Average Hillsboro Assessed Value
$64,050
Average Pocahontas County Assessed Value
$74,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hillsboro, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24946 | $17,000 | $34,800 | $64,050 | $111,800 | $183,310 |
Source: Ownwell
Property Tax Bills Across Hillsboro, West Virginia
In Hillsboro, WV, property tax bills are calculated based on the assessed value of a property, which is determined by the Pocahontas County Assessor's Office. The assessed value is a percentage of the property's market value. Factors such as property size, location, and improvements can influence this assessed value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For instance, the median home price in Hillsboro is $64,050. Homeowners in the 25th percentile can expect a tax bill around $162, while those in the 75th percentile might see a tax bill closer to $470. At the 90th percentile, tax bills can reach up to $825. The highest median tax bill in the area is $271, which is significantly lower than the national median property tax rate of 0.99%. These property taxes fund essential public services such as education, infrastructure, and emergency services, directly impacting the quality of life for Hillsboro residents.
Average Hillsboro Tax Bill
$271
Average Pocahontas County Tax Bill
$346
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Hillsboro, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24946 | $81 | $162 | $271 | $470 | $825 |
Source: Ownwell