Harts, West Virginia Property Taxes
The median property tax rate in Harts, WV is 0.75%, which is lower than the national median of 0.99% but slightly higher than the West Virginia state median of 0.72%. With the median home value in Harts, the typical annual property tax bill amounts to $286, significantly below the national median of $2,690. Property taxes in Harts 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 Harts' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Harts 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
Harts, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$330
Ownwell’s Harts Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harts with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harts 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 Harts, West Virginia
Property taxes in Harts, 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 Harts is 0.75%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Harts set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harts 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 Harts' effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 25524 has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Harts provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harts Tax Rate
0.75%
Average Lincoln County Tax Rate
0.75%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harts, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25524 | 0.22% | 0.41% | 0.75% | 0.75% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Harts, West Virginia
In Harts, 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 Lincoln 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 Harts, 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 Harts is $44,050, with tax bills ranging from $144 at the 25th percentile to $663 at the 90th percentile. Notably, the highest and lowest median tax bills, both at $286, are found in zip code 25524. Being aware of these valuation processes in Harts helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Harts Assessed Value
$44,050
Average Lincoln County Assessed Value
$50,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harts, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25524 | $13,400 | $27,775 | $44,050 | $64,675 | $91,210 |
Source: Ownwell
Property Tax Bills Across Harts, West Virginia
In Harts, located in Lincoln County, WV, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. Homeowners in Harts can expect varying tax bills, influenced by the assessed value of their property and the applicable tax rate. The median home price in Harts is $44,050, and the property tax rate in Lincoln County is relatively low compared to the national median property tax rate of 0.99%. Tax bills in Harts range significantly, with the 25th percentile bill at $144 and the 75th percentile bill at $448. For those at the 90th percentile, tax bills can reach up to $663. This variation illustrates how different factors, such as property value and specific local tax rates, can impact the amount homeowners are required to pay. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances accordingly.
Average Harts Tax Bill
$286
Average Lincoln County Tax Bill
$343
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Harts, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25524 | $53 | $144 | $286 | $448 | $663 |
Source: Ownwell