Bruceton Mills, West Virginia Property Taxes
The median property tax rate in Bruceton Mills, WV is 0.64%, 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 $22,100 in Bruceton Mills, the typical annual property tax bill is only $176, far below the national median of $2,690. Property taxes in Bruceton Mills 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 Bruceton Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Bruceton Mills or another part of Preston County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bruceton Mills, 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 BRUCETON MILLS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BRUCETON MILLS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BRUCETON MILLS 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 Bruceton Mills, West Virginia
Property taxes in Bruceton Mills, 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 Bruceton Mills is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Bruceton Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bruceton Mills 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 Bruceton Mills' effective property tax rate to other areas in Preston County and the national median. For comparison, the zip code 26525 has both the highest and lowest median property tax rate in the region, standing at 0.64%. Understanding how these areas compare with Bruceton Mills provides valuable insights into the varying tax landscape across Preston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bruceton Mills Tax Rate
0.64%
Average Preston County Tax Rate
0.64%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bruceton Mills, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26525 | 0.54% | 0.64% | 0.64% | 0.64% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Bruceton Mills, West Virginia
In Bruceton Mills, 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 Preston 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 Bruceton Mills, 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 Bruceton Mills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $176, with the zip code 26525.
Property Tax Assessment Values Across Bruceton Mills, West Virginia
Source: Ownwell
$22,100
$93,000
$163,900
Average Bruceton Mills Assessed Value
$22,100
Average Preston County Assessed Value
$68,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bruceton Mills, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26525 | $6,900 | $12,100 | $22,100 | $109,200 | $198,920 |
Source: Ownwell
Property Tax Bills Across Bruceton Mills, West Virginia
In Bruceton Mills, located in Preston County, WV, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is often a percentage of the property's market value. Homeowners can expect their tax bills to vary significantly, with the 25th percentile at $94 and the 75th percentile reaching $727. For those in the 90th percentile, tax bills can be as high as $1,323. The median home price in Bruceton Mills is $22,100, which is considerably lower than the national median. This lower home value contributes to relatively modest property tax bills compared to national figures. However, even within this small town, the range of tax bills can impact homeowners differently, depending on the assessed value of their property and any applicable exemptions. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Bruceton Mills Tax Bill
$176
Average Preston County Tax Bill
$473
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Bruceton Mills, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26525 | $55 | $94 | $176 | $727 | $1,323 |
Source: Ownwell