Belington, West Virginia Property Taxes
The median property tax rate in Belington, WV is 0.39%, 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 Belington at $69,100, the typical annual property tax bill amounts to $324, which is well below the national median of $2,690. Property taxes in Belington are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Belington'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 Belington or another part of Barbour County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Belington, 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 Belington Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Belington with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Belington to provide an estimated 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 Belington, West Virginia
Property taxes in Belington, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Belington is 0.39%, which is lower than both the West Virginia state median of 0.57% and the U.S. national median of 0.99%. Local government entities within Belington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belington 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 Belington's effective property tax rate to other counties in West Virginia and the national median. For comparison, the highest median property tax rate in West Virginia is found in Jefferson County at 0.83%, while the lowest median tax rate is in Pocahontas County at 0.31%. Understanding how these cities compare with Belington provides valuable insights into the varying tax landscape across Barbour County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belington Tax Rate
0.39%
Average Barbour County Tax Rate
0.39%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26250 | 0.24% | 0.34% | 0.39% | 0.54% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Belington, West Virginia
In Belington, 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 Barbour 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 Belington, 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 median home price in Belington is $69,100. The highest median tax bill is $324 in zip code 26250, while the lowest is also $324 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 Belington Assessed Value
$69,100
Average Barbour County Assessed Value
$69,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26250 | $12,060 | $34,125 | $69,100 | $110,050 | $160,070 |
Source: Ownwell
Property Tax Bills Across Belington, West Virginia
In Belington, located in Barbour 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 typically a percentage of the home's market value. For instance, with a median home price of $69,100, the property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location within the city, any applicable exemptions, and the specific tax rate set by local authorities. In Belington, the tax bills can vary widely. At the 25th percentile, homeowners might pay around $169 annually, while those at the 75th percentile could see bills closer to $505. For the top 10% of property values, tax bills can reach up to $749. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure. For homeowners, understanding how these taxes are calculated helps in financial planning and anticipating yearly expenses.
Average Belington Tax Bill
$324
Average Barbour County Tax Bill
$319
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Belington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26250 | $78 | $169 | $324 | $505 | $749 |
Source: Ownwell