Capon Bridge, West Virginia Property Taxes
The median property tax rate in Capon Bridge, WV is 0.52%, 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 Capon Bridge at $152,900, the typical annual property tax bill amounts to $836, well below the national median of $2,690. Property taxes in Capon Bridge are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Capon Bridge'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 Capon Bridge 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
Capon Bridge, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$795
Ownwell’s Capon Bridge Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Capon Bridge using just two simple data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Capon Bridge to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, making it easier to plan your finances. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Hampshire County, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Capon Bridge, West Virginia
Property taxes in Capon Bridge, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Capon Bridge is 0.52%, which is lower than the U.S. national median of 0.99%. Local government entities within Capon Bridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Capon Bridge 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 Capon Bridge's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26711 zip code has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these areas compare with Capon Bridge provides valuable insights into the varying tax landscape across Hampshire County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Capon Bridge Tax Rate
0.52%
Average Hampshire County Tax Rate
0.52%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Capon Bridge, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26711 | 0.42% | 0.52% | 0.52% | 0.52% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Capon Bridge, West Virginia
In Capon Bridge, 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 Hampshire 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 Capon Bridge, 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 Capon Bridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 26711, with a median tax bill of $836.
Property Tax Assessment Values Across Capon Bridge, West Virginia
Source: Ownwell
$61,800
$203,650
$345,500
Average Capon Bridge Assessed Value
$152,900
Average Hampshire County Assessed Value
$102,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Capon Bridge, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26711 | $52,780 | $95,200 | $152,900 | $204,100 | $272,540 |
Source: Ownwell
Property Tax Bills Across Capon Bridge, West Virginia
Property tax bills in Capon Bridge, Hampshire County, WV, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the market value of the home, which in Capon Bridge has a median home price of $152,900. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. For instance, the tax bill in Capon Bridge varies significantly, with the 25th percentile at $523 and the 75th percentile at $1,139. At the 90th percentile, homeowners might see a tax bill as high as $1,615. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Compared to the national median property tax rate of 0.99%, Capon Bridge offers a relatively affordable property tax environment, making it an attractive location for prospective homeowners.
Average Capon Bridge Tax Bill
$836
Average Hampshire County Tax Bill
$567
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Capon Bridge, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26711 | $347 | $523 | $836 | $1,139 | $1,615 |
Source: Ownwell