Bethany, West Virginia Property Taxes
The median property tax rate in Bethany, WV is 0.95%, slightly below the national median of 0.99% but higher than the state median of 0.72%. With the median home value in Bethany at $81,250, the typical annual property tax bill amounts to $723, which is significantly lower than the national median of $2,690. Property taxes in Bethany are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Bethany'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 Bethany or another part of Brooke County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bethany, 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 Bethany Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bethany with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bethany 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 Bethany, West Virginia
Property taxes in Bethany, West Virginia, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Bethany is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Bethany set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bethany 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 Bethany's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 26032 has both the highest and lowest median property tax rate of 0.95%, matching Bethany's rate. Understanding how these areas compare with Bethany provides valuable insights into the varying tax landscape across Brooke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bethany Tax Rate
0.95%
Average Brooke County Tax Rate
0.80%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bethany, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26032 | 0.54% | 0.73% | 0.95% | 0.98% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Bethany, West Virginia
In Bethany, 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 Brooke 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. 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 Bethany helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Bethany, the zip code with the highest and lowest median tax bill is 26032, with a median tax bill of $723.
Average Bethany Assessed Value
$81,250
Average Brooke County Assessed Value
$65,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bethany, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26032 | $30,540 | $56,200 | $81,250 | $103,800 | $131,180 |
Source: Ownwell
Property Tax Bills Across Bethany, West Virginia
In Bethany, located in Brooke County, WV, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value typically reflects a percentage of the property's market value. The tax rate is then applied to this assessed value to determine the annual property tax bill. For homeowners in Bethany, the median home price is $81,250. Property tax bills vary significantly, with the 25th percentile bill at $470 and the 75th percentile bill at $1,024. At the higher end, the 90th percentile tax bill reaches $1,583. These figures indicate a range of property tax burdens depending on the assessed value and specific characteristics of each property. Compared to the national median property tax rate of 0.99%, Bethany's tax rates can be considered moderate but still impactful on homeowners' budgets. Understanding how these factors interplay is crucial for homeowners to anticipate their financial responsibilities and manage their expenses effectively.
Average Bethany Tax Bill
$723
Average Brooke County Tax Bill
$517
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Bethany, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26032 | $244 | $470 | $723 | $1,024 | $1,583 |
Source: Ownwell