Center Point, West Virginia Property Taxes
The median property tax rate in Center Point, WV is 0.70%, which is lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $55,800 in Center Point, the typical annual property tax bill amounts to $427, significantly below the national median of $2,690. Property taxes in Center Point are calculated based on the assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Center Point'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 Center Point 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
Center Point, 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 Center Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Center Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Center Point 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 Center Point, West Virginia
Property taxes in Center Point, 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 Center Point is 0.70%, lower than the U.S. national median of 0.99%. Local government entities within Center Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Center Point 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 Center Point's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26339 has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these cities compare with Center Point provides valuable insights into the varying tax landscape across Doddridge County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Center Point Tax Rate
0.70%
Average Doddridge County Tax Rate
0.70%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Center Point, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26339 | 0.34% | 0.70% | 0.70% | 0.70% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Center Point, West Virginia
In Center Point, 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 Doddridge 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 Center Point, 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 Center Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $427 in zip code 26339, while the lowest is also $427 in the same zip code.
Property Tax Assessment Values Across Center Point, West Virginia
Source: Ownwell
$50,250
$75,875
$101,500
Average Center Point Assessed Value
$55,800
Average Doddridge County Assessed Value
$63,900
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Center Point, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26339 | $3,860 | $33,400 | $55,800 | $84,400 | $141,240 |
Source: Ownwell
Property Tax Bills Across Center Point, West Virginia
In Center Point, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as the property's location, size, and market conditions play a crucial role in determining its assessed value. For homeowners in Center Point, the median home price is $55,800. Property tax bills can vary significantly, with the 25th percentile at $236 and the 75th percentile at $690. At the 90th percentile, homeowners might see tax bills as high as $1,022. Comparatively, the highest and lowest median tax bills in the county are both $427, reflecting a relatively consistent tax burden across different areas. Understanding how these factors contribute to the overall property tax bill can help homeowners better manage their finances and anticipate future expenses. The local tax rate in Center Point is one of the key determinants, and it directly influences how much a homeowner will pay annually.
Average Center Point Tax Bill
$427
Average Doddridge County Tax Bill
$427
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Center Point, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26339 | $103 | $236 | $427 | $690 | $1,022 |
Source: Ownwell