Haywood, West Virginia Property Taxes
The median property tax rate in Haywood, WV is 0.73%, slightly higher than the state median of 0.72% but lower than the national median of 0.99%. With the median home value in Haywood at $24,900, the typical annual property tax bill is approximately $242, significantly below the national median of $2,690. Property taxes in Haywood 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 Haywood'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 Haywood or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Haywood, 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 Haywood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Haywood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Haywood 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 Haywood, West Virginia
Property taxes in Haywood, West Virginia, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Haywood is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Haywood set these rates annually, and they can vary across different neighborhoods. Each year, Haywood 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 Haywood's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26366 has both the highest and lowest median property tax rate of 0.73% within the area. Understanding how these cities compare with Haywood provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Haywood Tax Rate
0.73%
Average Harrison County Tax Rate
0.74%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Haywood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26366 | 0.33% | 0.70% | 0.73% | 1.40% | 4.45% |
Source: Ownwell
Property Tax Assessment Values Across Haywood, West Virginia
In Haywood, 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 Harrison County Assessor's Office 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 Haywood, 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 Haywood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Haywood are both $242, found in the 26366 zip code.
Average Haywood Assessed Value
$24,900
Average Harrison County Assessed Value
$76,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Haywood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26366 | $2,900 | $5,300 | $24,900 | $39,200 | $64,140 |
Source: Ownwell
Property Tax Bills Across Haywood, West Virginia
In Haywood, 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 establish the annual tax bill. The median home price in Haywood is $24,900, and the property tax rate in Harrison County is relatively modest compared to the national median property tax rate of 0.99%. Homeowners in Haywood can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $129, while the 75th percentile tax bill is approximately $403. At the 90th percentile, tax bills can reach up to $615. These variations in tax bills are influenced by factors such as property location, home improvements, and market conditions. For homeowners, understanding these elements is crucial, as they directly impact the affordability of owning property in Haywood. With the highest and lowest median tax bills both recorded at $242 in zip code 26366, it's evident that property taxes in Haywood can be quite manageable for most residents.
Average Haywood Tax Bill
$242
Average Harrison County Tax Bill
$688
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Haywood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26366 | $74 | $129 | $242 | $403 | $615 |
Source: Ownwell