Industrial, West Virginia Property Taxes
The median property tax rate in INDUSTRIAL, WV is 0.85%, which is lower than the national median of 0.99% but higher than the West Virginia state median of 0.72%. With the median home value in INDUSTRIAL at $16,200, the typical annual property tax bill comes to $137, significantly below the national median of $2,690. Property taxes in INDUSTRIAL are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding INDUSTRIAL'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 INDUSTRIAL or another part of Harrison County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Industrial, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$138
Ownwell’s INDUSTRIAL Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in INDUSTRIAL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in INDUSTRIAL to estimate your property tax bill. This valuable tool provides an understanding of potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Industrial, West Virginia
Property taxes in INDUSTRIAL, 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 INDUSTRIAL is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within INDUSTRIAL set these rates annually, and they can vary significantly across different neighborhoods. Each year, INDUSTRIAL 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 INDUSTRIAL's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26426 has the same median property tax rate of 0.85%. Understanding how these areas compare with INDUSTRIAL 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 Industrial Tax Rate
0.85%
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 Industrial, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26426 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Industrial, West Virginia
In INDUSTRIAL, 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 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 INDUSTRIAL, 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 INDUSTRIAL helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in INDUSTRIAL are both $137.00, found in the zip code 26426. This uniformity highlights the importance of understanding property valuation to ensure fair taxation.
Average Industrial Assessed Value
$16,200
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 Industrial, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26426 | $16,200 | $16,200 | $16,200 | $16,200 | $16,200 |
Source: Ownwell
Property Tax Bills Across Industrial, West Virginia
In INDUSTRIAL, located in Harrison County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate, or millage rate, is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $16,200, homeowners in INDUSTRIAL can expect their tax bills to be relatively low compared to the national median property tax rate of 0.99%. The tax bill in INDUSTRIAL typically falls around $137, as seen in the 25th, 75th, and 90th percentiles, which is consistent across different zip codes within the city. This low tax bill can significantly benefit homeowners by reducing their annual financial burden. However, it is essential to consider that lower property taxes may also reflect the market conditions and home values in the area. Homeowners should stay informed about these factors as they can influence both the affordability and the long-term investment potential of their properties.
Average Industrial Tax Bill
$137
Average Harrison County Tax Bill
$688
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Industrial, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26426 | $137 | $137 | $137 | $137 | $137 |
Source: Ownwell