Hilltop, West Virginia Property Taxes
The median property tax rate in Hilltop, WV, is 0.77%, which is lower than the national median of 0.99% but slightly higher than the West Virginia state median of 0.72%. With the median home value in Hilltop at $56,100, the typical annual property tax bill amounts to $431, significantly below the national median of $2,690. Property taxes in Hilltop are based on the tax assessed value, often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Hilltop'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 Hilltop 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
Hilltop, 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 Hilltop Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hilltop with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hilltop 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 Hilltop, West Virginia
Property taxes in Hilltop, West Virginia, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Hilltop is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Hilltop set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hilltop 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 Hilltop's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25855 has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these areas compare with Hilltop provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hilltop Tax Rate
0.77%
Average Fayette County Tax Rate
0.77%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hilltop, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25855 | 0.31% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Hilltop, West Virginia
In Hilltop, 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 Fayette 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 Hilltop helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Hilltop, the median home price is $56,100, with tax bills ranging from $353 at the 25th percentile to $931 at the 90th percentile. The zip code 25855 has both the highest and lowest median tax bills at $431.
Average Hilltop Assessed Value
$56,100
Average Fayette County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hilltop, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25855 | $29,420 | $45,350 | $56,100 | $102,700 | $120,360 |
Source: Ownwell
Property Tax Bills Across Hilltop, West Virginia
In HILLTOP, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the tax rate set by the local government. In Fayette County, where HILLTOP is located, the median home price is $56,100. Property tax bills can vary significantly, with the 25th percentile tax bill at $353 and the 75th percentile reaching $833. The highest median tax bill in the area is $431, found in the 25855 zip code. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. These property taxes fund essential public services such as schools, roads, and emergency services. For homeowners, understanding how their tax bill is calculated is crucial, as it directly impacts their annual housing costs. Compared to the national median property tax rate of 0.99%, HILLTOP's property taxes are relatively manageable, offering residents a more affordable living situation.
Average Hilltop Tax Bill
$431
Average Fayette County Tax Bill
$424
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Hilltop, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25855 | $74 | $353 | $431 | $833 | $931 |
Source: Ownwell