Burlington, West Virginia Property Taxes
The median property tax rate in Burlington, WV is 0.48%, 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 Burlington at $107,500, the typical annual property tax bill is $500, well below the national median of $2,690. Property taxes in Burlington are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Burlington'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 Burlington or another part of Grant County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Burlington, 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 Burlington Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to easily estimate their annual property taxes in Burlington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burlington to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends on a neighborhood level, additional localized information is available below. 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 Burlington, West Virginia
Property taxes in Burlington, 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 Burlington is 0.48%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Burlington set these rates annually, and they can vary across different neighborhoods. Each year, Burlington 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 Burlington's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 26710 has both the highest and lowest median property tax rate of 0.48%. Understanding how these areas compare with Burlington provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burlington Tax Rate
0.48%
Average Grant County Tax Rate
0.48%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burlington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26710 | 0.34% | 0.41% | 0.48% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Burlington, West Virginia
In Burlington, 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 Grant 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 Burlington, 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 Burlington is $107,500, with the 25th percentile tax bill at $380 and the 75th percentile tax bill at $712. The highest and lowest median tax bills are both found in zip code 26710, each at $500. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Burlington, West Virginia
Source: Ownwell
$32,100
$90,850
$149,600
Average Burlington Assessed Value
$107,500
Average Grant County Assessed Value
$73,700
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burlington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26710 | $52,540 | $81,300 | $107,500 | $156,250 | $207,580 |
Source: Ownwell
Property Tax Bills Across Burlington, West Virginia
In Burlington, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For example, with a median home price of $107,500, the assessed value is determined by local tax assessors. The tax rate is then applied to this assessed value to calculate the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Burlington can expect to pay varying amounts, with the 25th percentile tax bill around $380 and the 75th percentile reaching $712. The highest median tax bill in the area is recorded at $500 in zip code 26710. These figures show that property taxes in Burlington are relatively moderate compared to the national median property tax rate of 0.99%. Understanding how these taxes are calculated helps homeowners budget effectively and anticipate their annual financial obligations.
Average Burlington Tax Bill
$500
Average Grant County Tax Bill
$353
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Burlington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26710 | $291 | $380 | $500 | $712 | $898 |
Source: Ownwell