Winfield, West Virginia Property Taxes
The median property tax rate in Winfield, WV is 0.73%, slightly higher than the state median of 0.72% but lower than the national median of 0.99%. With a median home value of $177,700 in Winfield, the typical annual property tax bill is $1,439, which is below the national median of $2,690. Property taxes in Winfield are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Winfield'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 Winfield 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
Winfield, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$1,297
Ownwell’s WINFIELD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WINFIELD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WINFIELD 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 Winfield, West Virginia
Property taxes in Winfield, 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 Winfield is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Winfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winfield 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 Winfield's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25213 has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these localities compare with Winfield provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Winfield Tax Rate
0.73%
Average Putnam County Tax Rate
0.73%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winfield, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25213 | 0.60% | 0.73% | 0.73% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Winfield, West Virginia
In Winfield, 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 Putnam County Assessor's 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. In Winfield, 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 Winfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Winfield is $177,700, with the highest and lowest median tax bills both being $1,439 in the zip code 25213.
Average Winfield Assessed Value
$177,700
Average Putnam County Assessed Value
$136,400
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Winfield, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25213 | $15,270 | $117,800 | $177,700 | $266,075 | $374,440 |
Source: Ownwell
Property Tax Bills Across Winfield, West Virginia
In Winfield, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in the area is $177,700. Once the assessed value is determined, the local tax rate is applied to calculate the annual tax bill. Factors such as property size, location, and any applicable exemptions can influence the assessed value and, consequently, the tax bill. For homeowners in Winfield, the property tax burden can vary significantly. For instance, the tax bill at the 25th percentile is $896, while at the 75th percentile, it rises to $2139. At the 90th percentile, it can reach up to $3048. This variation highlights the impact of different property values and assessments within the city. Comparatively, the median property tax bill in Winfield is $1439, which is below the national median property tax rate of 0.99%. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan accordingly.
Average Winfield Tax Bill
$1,439
Average Putnam County Tax Bill
$1,099
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Winfield, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25213 | $333 | $896 | $1,439 | $2,139 | $3,048 |
Source: Ownwell