Hiawatha, West Virginia Property Taxes
The median property tax rate in Hiawatha, WV is 0.68%, lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Hiawatha at $43,800, the typical annual property tax bill is $299, significantly below the national median of $2,690. Property taxes in Hiawatha are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Hiawatha'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 Hiawatha 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
Hiawatha, 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 Hiawatha Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hiawatha with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hiawatha 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 Hiawatha, West Virginia
Property taxes in Hiawatha, 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 Hiawatha is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Hiawatha set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hiawatha 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 Hiawatha's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 24729 has both the highest and lowest median property tax rate of 0.68%. Understanding how these areas compare with Hiawatha provides valuable insights into the varying tax landscape across Mercer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hiawatha Tax Rate
0.68%
Average Mercer County Tax Rate
0.68%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hiawatha, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24729 | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Hiawatha, West Virginia
In Hiawatha, 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 Mercer 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 Hiawatha, 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 Hiawatha helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hiawatha is $43,800, with the highest and lowest median tax bills both at $299 in zip code 24729.
Average Hiawatha Assessed Value
$43,800
Average Mercer County Assessed Value
$60,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hiawatha, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24729 | $43,800 | $43,800 | $43,800 | $43,800 | $43,800 |
Source: Ownwell
Property Tax Bills Across Hiawatha, West Virginia
In Hiawatha, located in Mercer County, WV, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. The tax rate, expressed as a percentage, is applied to this assessed value to determine the annual property tax bill. For homeowners in Hiawatha, the median home price is $43,800. With property tax bills consistently at $299 across various percentiles, it suggests a relatively uniform tax rate application. This uniformity provides predictability for homeowners, making it easier to budget for annual expenses. Compared to the national median property tax rate of 0.99%, Hiawatha's property taxes are quite modest. This lower tax burden can make homeownership more accessible and affordable, potentially attracting new residents and encouraging long-term investment in the community. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Hiawatha Tax Bill
$299
Average Mercer County Tax Bill
$442
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Hiawatha, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24729 | $299 | $299 | $299 | $299 | $299 |
Source: Ownwell