Baxter, West Virginia Property Taxes
The median property tax rate in Baxter, WV is 0.74%, slightly higher than the state median of 0.72% but lower than the national median of 0.99%. With a median home value of $53,300 in Baxter, the typical annual property tax bill amounts to $346, which is significantly below the national median of $2,690. Property taxes in Baxter 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 Baxter'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 Baxter or another part of Marion County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Baxter, 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 Baxter Property Tax Bill Calculator offers homeowners, real estate investors, and prospective buyers a convenient way to estimate annual property taxes with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Baxter to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and make informed financial decisions. For those interested in more granular insights, scroll down for neighborhood-level trends. Your property’s assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Baxter, West Virginia
Property taxes in Baxter, 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 Baxter is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Baxter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Baxter 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 Baxter's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26560 zip code has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these figures compare with Baxter provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Baxter Tax Rate
0.74%
Average Marion County Tax Rate
0.74%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Baxter, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26560 | 0.31% | 0.54% | 0.74% | 0.74% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Baxter, West Virginia
In Baxter, 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 Marion 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 Baxter, 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 Baxter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 26560, with a tax bill of $346.00.
Average Baxter Assessed Value
$53,300
Average Marion County Assessed Value
$104,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Baxter, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26560 | $14,690 | $37,850 | $53,300 | $70,350 | $109,950 |
Source: Ownwell
Property Tax Bills Across Baxter, West Virginia
In Baxter, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Baxter, the median home price is $53,300. With the national median property tax rate being 0.99%, Baxter's property tax bills fall within a range that reflects this rate. Homeowners in Baxter can expect a tax bill ranging from $177 at the 25th percentile to $612 at the 75th percentile, with the 90th percentile reaching up to $1,039. The highest and lowest median tax bills in the area are both $346, found in the 26560 ZIP code. These tax bills are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community. Understanding these factors helps homeowners anticipate their annual expenses and plan their finances accordingly.
Average Baxter Tax Bill
$346
Average Marion County Tax Bill
$886
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Baxter, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26560 | $106 | $177 | $346 | $612 | $1,039 |
Source: Ownwell