Jumping Branch, West Virginia Property Taxes
The median property tax rate in Jumping Branch, WV is 0.47%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Jumping Branch at $94,150, the typical annual property tax bill reaches $458, well below the national median of $2,690. Property taxes in Jumping Branch are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Jumping Branch'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 Jumping Branch 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
Jumping Branch, 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 Jumping Branch Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jumping Branch with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jumping Branch 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 Jumping Branch, West Virginia
Property taxes in Jumping Branch, West Virginia, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Jumping Branch is 0.47%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Jumping Branch set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jumping Branch 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 Jumping Branch's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25969 zip code has the highest median property tax rate of 0.47%, while the same zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Jumping Branch provides valuable insights into the varying tax landscape across Raleigh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jumping Branch Tax Rate
0.47%
Average Raleigh County Tax Rate
0.72%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jumping Branch, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25969 | 0.43% | 0.46% | 0.47% | 0.50% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Jumping Branch, West Virginia
In Jumping Branch, 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 Raleigh 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. Assessment notices in Jumping Branch 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 Jumping Branch helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 25969 has the highest and lowest median tax bill at $458.
Property Tax Assessment Values Across Jumping Branch, West Virginia
Source: Ownwell
$6,300
$72,500
$138,700
Average Jumping Branch Assessed Value
$94,150
Average Raleigh County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jumping Branch, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25969 | $84,050 | $92,225 | $94,150 | $98,100 | $105,800 |
Source: Ownwell
Property Tax Bills Across Jumping Branch, West Virginia
In Jumping Branch, property tax bills are calculated based on the assessed value of a property, which is determined by the Raleigh County tax assessor. The assessed value is a percentage of the property's market value. Homeowners in Jumping Branch can expect their tax bills to fall within a range influenced by various factors such as property size, location, and improvements. For instance, the median home price in Jumping Branch is $94,150. Tax bills in this area show significant variation, with the 25th percentile at $425 and the 75th percentile at $546, while the 90th percentile reaches up to $624. These figures suggest that most homeowners will pay between $425 and $624 annually, depending on their property's assessed value and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Jumping Branch's tax rates offer a relatively affordable option for homeowners. Understanding these factors can help property owners anticipate their annual tax obligations and budget accordingly.
Average Jumping Branch Tax Bill
$458
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Jumping Branch, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25969 | $366 | $425 | $458 | $546 | $624 |
Source: Ownwell