Swiss, West Virginia Property Taxes
The median property tax rate in Swiss, WV is 0.77%, slightly lower than the national median of 0.99% but higher than the West Virginia state median of 0.72%. With a median home value of $21,700 in Swiss, the typical annual property tax bill is approximately $180, which is significantly below the national median of $2,690. Property taxes in Swiss 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 Swiss's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Swiss or another part of Fayette County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Swiss, 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 Swiss Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Swiss with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Swiss 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 Swiss, West Virginia
Property taxes in Swiss, 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 Swiss is 0.77%, lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Swiss set these rates annually, and they can vary significantly across different neighborhoods. Each year, Swiss 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 Swiss's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26690 zip code has both the highest and lowest median property tax rate of 0.77%. Understanding how these cities compare with Swiss 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 Swiss 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 Swiss, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26690 | 0.77% | 0.77% | 0.77% | 1.54% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Swiss, West Virginia
In Swiss, 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. In Swiss, 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 Swiss helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 26690 in Swiss has both the highest and lowest median tax bill, which is $180.
Average Swiss Assessed Value
$21,700
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 Swiss, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26690 | $3,620 | $10,350 | $21,700 | $33,550 | $45,620 |
Source: Ownwell
Property Tax Bills Across Swiss, West Virginia
In Swiss, Fayette 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 Swiss is $21,700, and tax rates are applied to this assessed value to determine the annual tax bill. Homeowners in Swiss can expect property tax bills to vary significantly, with the 25th percentile at $105 and the 75th percentile reaching $281. For those in the 90th percentile, tax bills can be as high as $536. Several factors influence these tax bills, including the home's assessed value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Swiss homeowners experience relatively lower tax rates. This lower rate can make homeownership more affordable, but it's essential for homeowners to stay informed about any changes in property assessments or tax rates, as these can impact their annual tax obligations significantly.
Average Swiss Tax Bill
$180
Average Fayette County Tax Bill
$424
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Swiss, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26690 | $33 | $105 | $180 | $281 | $536 |
Source: Ownwell