Ballard, West Virginia Property Taxes
The median property tax rate in Ballard, WV is 0.63%, which is significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Ballard, the typical annual property tax bill reaches $471, well below the national median of $2,690. Property taxes in Ballard are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ballard'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 Ballard 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
Ballard, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$513
Ownwell’s Ballard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ballard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ballard 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 Ballard, West Virginia
Property taxes in Ballard, 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 Ballard is 0.63%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Ballard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ballard 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 Ballard's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 24918 has both the highest and lowest median property tax rate of 0.63%. Understanding how these areas compare with Ballard provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ballard Tax Rate
0.63%
Average Monroe County Tax Rate
0.63%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ballard, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24918 | 0.34% | 0.48% | 0.63% | 0.63% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Ballard, West Virginia
In Ballard, 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 Monroe 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 Ballard, 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 Ballard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 24918, with a tax bill of $471, while the lowest median tax bill is also in zip code 24918, reflecting the same amount.
Average Ballard Assessed Value
$81,400
Average Monroe County Assessed Value
$74,100
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ballard, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24918 | $27,900 | $51,850 | $81,400 | $120,650 | $179,560 |
Source: Ownwell
Property Tax Bills Across Ballard, West Virginia
In Ballard, Monroe County, WV, property tax bills are calculated based on the assessed value of a home. The median home price in Ballard stands at $81,400. The tax bill is determined by multiplying the assessed value by the local property tax rate. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Ballard, the property tax bill can vary significantly. The 25th percentile tax bill is $271, while the 75th percentile tax bill is $756. At the 90th percentile, homeowners might pay up to $1,140. These figures highlight the range of property taxes that residents might encounter, depending on their property's assessed value and specific characteristics. Compared to the national median property tax rate of 0.99%, Ballard's property taxes can be considered relatively moderate, ensuring that homeowners are not overly burdened. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Ballard Tax Bill
$471
Average Monroe County Tax Bill
$436
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Ballard, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24918 | $137 | $271 | $471 | $756 | $1,140 |
Source: Ownwell