Harts, West Virginia Property Taxes
The median property tax rate in Harts, WV is 0.46%, 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 Harts at $87,400, the typical annual property tax bill is $398, well below the national median of $2,690. Property taxes in Harts 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 Harts' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Harts or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Harts, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$402
Ownwell’s Harts Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harts with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harts 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 Harts, West Virginia
Property taxes in Harts, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harts is 0.46%, significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Harts set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harts 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 Harts' effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25524 zip code has the highest median property tax rate of 0.46%, while the same zip code also has the lowest median tax rate of 0.46%. Understanding how these cities compare with Harts provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harts Tax Rate
0.46%
Average Wayne County Tax Rate
0.74%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harts, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25524 | 0.46% | 0.46% | 0.46% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Harts, West Virginia
In Harts, 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 Wayne 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. In Harts, 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 Harts helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Harts, the zip code 25524 has both the highest and lowest median tax bill at $398, which is significantly lower than the national median property tax rate of 0.99%.
Average Harts Assessed Value
$87,400
Average Wayne County Assessed Value
$57,100
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harts, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25524 | $87,400 | $87,400 | $87,400 | $87,400 | $87,400 |
Source: Ownwell
Property Tax Bills Across Harts, West Virginia
In Harts, Wayne 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 Harts is $87,400. Property taxes are then determined by applying the local tax rate to this assessed value. Factors such as property location, improvements, and market trends influence the assessed value, ensuring it reflects current market conditions. For homeowners in Harts, the property tax bill is relatively consistent, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $398. This uniformity indicates a stable tax environment, providing predictability for budgeting purposes. Compared to the national median property tax rate of 0.99%, Harts offers a more favorable tax situation for its residents. Understanding these factors helps homeowners anticipate their annual tax obligations, ensuring they can plan their finances effectively.
Average Harts Tax Bill
$398
Average Wayne County Tax Bill
$426
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Harts, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25524 | $398 | $398 | $398 | $398 | $398 |
Source: Ownwell