Beckley, West Virginia Property Taxes
The median property tax rate in Beckley, WV is 0.72%, aligning with the state median but lower than the national median of 0.99%. With a median home value of $51,700 in Beckley, the typical annual property tax bill amounts to $458, significantly below the national median of $2,690. Property taxes in Beckley are based on the assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Beckley'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 Beckley or another part of Raleigh County, familiarizing yourself with the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Beckley, 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 Beckley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beckley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beckley 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 Beckley, West Virginia
Property taxes in Beckley, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beckley is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Beckley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beckley 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 Beckley's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25801 zip code has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Beckley provides valuable insights into the varying tax landscape across Raleigh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beckley Tax Rate
0.72%
Average Raleigh County Tax Rate
0.72%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beckley, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25801 | 0.37% | 0.67% | 0.72% | 0.87% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Beckley, West Virginia
In Beckley, 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 Raleigh 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 Beckley, 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 Beckley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 25801 has both the highest and lowest median tax bills at $458, reflecting the diverse property values within the area.
Average Beckley Assessed Value
$51,700
Average Raleigh County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beckley, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25801 | $11,100 | $29,300 | $51,700 | $95,600 | $150,900 |
Source: Ownwell
Property Tax Bills Across Beckley, West Virginia
In Beckley, Raleigh County, WV, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Homeowners can expect their tax bills to vary significantly, with the 25th percentile at $227 and the 75th percentile at $782. The highest median tax bill in Beckley is $458, which is relatively low compared to the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For example, a home with a median value of $51,700 would have a tax bill that reflects both the assessed value and the local tax rate. This system ensures that property taxes are proportional to the value of the property, affecting homeowners by potentially increasing their annual expenses based on the local real estate market and tax policies.
Average Beckley Tax Bill
$458
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Beckley, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25801 | $89 | $227 | $458 | $782 | $1,240 |
Source: Ownwell