Bruceton Mills, West Virginia Property Taxes
The median property tax rate in Bruceton Mills, WV is 0.60%, which is 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 Bruceton Mills at $187,000, the typical annual property tax bill amounts to $1,096, significantly below the national median of $2,690. Property taxes in Bruceton Mills 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 Bruceton Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Bruceton Mills or another part of Monongalia County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bruceton Mills, 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 Bruceton Mills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bruceton Mills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bruceton Mills 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 Bruceton Mills, West Virginia
Property taxes in Bruceton Mills, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bruceton Mills is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Bruceton Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bruceton Mills 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 Bruceton Mills' effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26525 has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Bruceton Mills provides valuable insights into the varying tax landscape across Monongalia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bruceton Mills Tax Rate
0.60%
Average Monongalia County Tax Rate
0.64%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bruceton Mills, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26525 | 0.57% | 0.59% | 0.60% | 0.62% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Bruceton Mills, West Virginia
In Bruceton Mills, 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 county assessment office 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. 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. Bruceton Mills has a median home price of $187,000. The median tax bill ranges from $868 at the 25th percentile to $1,462 at the 90th percentile, with the highest and lowest median tax bills both at $1,096 in zip code 26525. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bruceton Mills, West Virginia
Source: Ownwell
$18,150
$102,575
$187,000
Average Bruceton Mills Assessed Value
$187,000
Average Monongalia County Assessed Value
$146,600
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bruceton Mills, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26525 | $117,160 | $143,350 | $187,000 | $230,650 | $256,840 |
Source: Ownwell
Property Tax Bills Across Bruceton Mills, West Virginia
In Bruceton Mills, WV, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Monongalia County. The assessed value is a percentage of the market value of the property, which is determined by the county assessor. Homeowners in Bruceton Mills typically see tax bills that vary significantly, with the 25th percentile at $868 and the 75th percentile at $1325. The highest median tax bill recorded is $1096, which is notably higher than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For homeowners, this means that while some may benefit from lower tax rates, others could face higher bills depending on their property's assessed value. Understanding these factors can help homeowners anticipate their tax liabilities and plan their finances accordingly. The variability in tax bills underscores the importance of accurate property assessments and staying informed about local tax policies.
Average Bruceton Mills Tax Bill
$1,096
Average Monongalia County Tax Bill
$1,138
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Bruceton Mills, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26525 | $731 | $868 | $1,096 | $1,325 | $1,462 |
Source: Ownwell