Charles Town, West Virginia Property Taxes
The median property tax rate in Charles Town, WV, is 0.70%, notably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Charles Town at $300,300, the typical annual property tax bill is $2,356, which is below the national median of $2,690. Property taxes in Charles Town 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 Charles Town'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 Charles Town 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
Charles Town, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$2,102
Ownwell’s Charles Town Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Charles Town with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Charles Town 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 Charles Town, West Virginia
Property taxes in Charles Town, 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 Charles Town is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Charles Town set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charles Town 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 Charles Town's effective property tax rate to other counties in West Virginia and the national median. For comparison, the highest and lowest median property tax rates in the region are both 0.70%, found in the zip code 25414. Understanding how these cities compare with Charles Town provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charles Town Tax Rate
0.70%
Average Jefferson County Tax Rate
0.70%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charles Town, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25414 | 0.63% | 0.70% | 0.70% | 0.84% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Charles Town, West Virginia
In Charles Town, 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 Jefferson 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 Charles Town, 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 Charles Town helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,356, found in zip code 25414.
Property Tax Assessment Values Across Charles Town, West Virginia
Source: Ownwell
$121,900
$238,400
$354,900
Average Charles Town Assessed Value
$300,300
Average Jefferson County Assessed Value
$267,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charles Town, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25414 | $149,150 | $217,100 | $300,300 | $403,600 | $494,400 |
Source: Ownwell
Property Tax Bills Across Charles Town, West Virginia
In Charles Town, located in Jefferson County, WV, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county assessor and is a percentage of the property's market value. The property tax rate is then applied to this assessed value to calculate the annual tax bill. For homeowners in Charles Town, the median home price is $300,300. The tax bill for the 25th percentile is $1,697, while those in the 75th percentile see bills around $3,098. At the 90th percentile, the tax bill can reach up to $3,843. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners to understand their local tax obligations. These tax bills significantly impact homeowners, influencing their overall cost of living and financial planning. In Jefferson County, the highest and lowest median tax bills are both $2,356, specifically in the zip code 25414, reflecting a certain level of consistency in tax assessments within that area.
Average Charles Town Tax Bill
$2,356
Average Jefferson County Tax Bill
$2,072
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Charles Town, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25414 | $1,181 | $1,697 | $2,356 | $3,098 | $3,843 |
Source: Ownwell