Ballard, West Virginia Property Taxes
The median property tax rate in Ballard, WV is 0.41%, 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 Ballard at $96,200, the typical annual property tax bill is $352, well below the national median of $2,690. Property taxes in Ballard are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Ballard'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 Ballard or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ballard, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$394
Ownwell’s Ballard Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers in Ballard. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Ballard to estimate your annual property tax bill. This easy-to-use tool provides a clear understanding of your potential tax liabilities, helping you make informed financial decisions. For those who wish to delve deeper into localized trends, more detailed neighborhood-level information is available below. Your property’s assessed value, determined by the county, forms the basis for these calculations and includes any applicable exemptions.
Property Tax Rates Across Ballard, West Virginia
Property taxes in Ballard, 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 Ballard is 0.41%, significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Ballard set these rates annually, and they can vary across different neighborhoods. Each year, Ballard 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 Ballard's effective property tax rate to other areas in West Virginia and the national median. For comparison, the highest and lowest median property tax rate in Summers County is 0.41%, both found in the zip code 24918. Understanding how these areas compare with Ballard provides valuable insights into the varying tax landscape across Summers County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ballard Tax Rate
0.41%
Average Summers County Tax Rate
0.41%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ballard, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24918 | 0.26% | 0.38% | 0.41% | 0.41% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Ballard, West Virginia
In Ballard, 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 Summers County Assessor's Office 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 Ballard, 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. The highest median tax bill in Ballard is $352.00 in zip code 24918, while the lowest median tax bill is also $352.00 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ballard Assessed Value
$96,200
Average Summers County Assessed Value
$66,000
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ballard, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24918 | $18,210 | $64,425 | $96,200 | $134,850 | $144,590 |
Source: Ownwell
Property Tax Bills Across Ballard, West Virginia
In Ballard, Summers County, WV, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Ballard is $96,200. Homeowners' tax bills are influenced by various factors, including the property's assessed value, local tax rates, and applicable exemptions. The assessed value is multiplied by the local tax rate to determine the annual tax bill. For example, the tax bill at the 25th percentile is $211, while at the 75th percentile, it rises to $538. Homeowners at the 90th percentile experience tax bills around $590. Compared to the national median property tax rate of 0.99%, Ballard's tax rates are relatively moderate. This means that while homeowners in Ballard pay less in property taxes than the national average, their tax bills can still vary significantly based on the property's assessed value and the specific tax rate applied. This system ensures that property taxes are proportionate to the property's value, impacting homeowners' annual financial planning.
Average Ballard Tax Bill
$352
Average Summers County Tax Bill
$304
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Ballard, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24918 | $110 | $211 | $352 | $538 | $590 |
Source: Ownwell