Hometown, West Virginia Property Taxes
The median property tax rate in Hometown, WV is 0.77%, slightly below the national median of 0.99% but higher than the West Virginia state median of 0.72%. With a median home value of $49,100 in Hometown, the typical annual property tax bill amounts to $457, which is significantly lower than the national median of $2,690. Property taxes in Hometown are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Hometown'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 Hometown or another part of Putnam County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hometown, 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 HOMETOWN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HOMETOWN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HOMETOWN 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 Hometown, West Virginia
Property taxes in HOMETOWN, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in HOMETOWN is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within HOMETOWN set these rates annually, and they can vary significantly across different neighborhoods. Each year, HOMETOWN 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 HOMETOWN's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 25109 has the same median property tax rate of 0.77%. Understanding how these cities compare with HOMETOWN provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hometown Tax Rate
0.77%
Average Putnam County Tax Rate
0.73%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hometown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25109 | 0.48% | 0.73% | 0.77% | 1.46% | 3.69% |
Source: Ownwell
Property Tax Assessment Values Across Hometown, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hometown, Putnam County, West Virginia. 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 local 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 Hometown, 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 Hometown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest and lowest median tax bill is 25109, with a median tax bill of $457.
Average Hometown Assessed Value
$49,100
Average Putnam County Assessed Value
$136,400
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hometown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25109 | $7,320 | $12,375 | $49,100 | $75,950 | $106,840 |
Source: Ownwell
Property Tax Bills Across Hometown, West Virginia
In Hometown, Putnam County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Hometown is $49,100, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors considered in the calculation include the property's location, size, and any improvements made. For example, the tax bill at the 25th percentile is $292, while at the 75th percentile, it rises to $682, and at the 90th percentile, it reaches $924. These figures show how variations in property values and assessments can significantly impact homeowners' tax obligations. Compared to the national median property tax rate of 0.99%, Hometown's property tax rates are relatively moderate, providing some relief to homeowners. The highest and lowest median tax bills in the area are both $457, indicating a consistent tax structure within the specific zip code 25109.
Average Hometown Tax Bill
$457
Average Putnam County Tax Bill
$1,099
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Hometown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25109 | $120 | $292 | $457 | $682 | $924 |
Source: Ownwell