Harman, West Virginia Property Taxes
The median property tax rate in Harman, WV is 0.40%, 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 Harman, the typical annual property tax bill amounts to $248, well below the national median of $2,690. Property taxes in Harman are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Harman'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 Harman or another part of Randolph County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Harman, 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 Harman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harman 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 Harman, West Virginia
Property taxes in Harman, West Virginia, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Harman is 0.40%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Harman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harman 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 Harman's effective property tax rate to other areas in Randolph County and the national median. For comparison, the zip code 26270 has both the highest and lowest median property tax rate of 0.40%. Understanding how these areas compare with Harman provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harman Tax Rate
0.40%
Average Randolph County Tax Rate
0.40%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harman, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26270 | 0.23% | 0.40% | 0.40% | 0.41% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Harman, West Virginia
In Harman, 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 Randolph County Appraisal District 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 Harman, 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 Harman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Harman is $248.00 in the 26270 zip code, while the lowest median tax bill is also $248.00 in the same zip code.
Average Harman Assessed Value
$61,300
Average Randolph County Assessed Value
$82,600
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harman, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26270 | $7,000 | $29,300 | $61,300 | $108,800 | $169,320 |
Source: Ownwell
Property Tax Bills Across Harman, West Virginia
In Harman, located in Randolph County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is a percentage of the property's market value. Homeowners in Harman can expect property tax bills to vary significantly, with the 25th percentile tax bill at $107 and the 75th percentile reaching $463. For those in the 90th percentile, tax bills can be as high as $747. These figures are relatively lower compared to the national median property tax rate of 0.99%. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. The highest median tax bill in the area is $248, which is consistent across different zip codes in Randolph County. This calculation method ensures that property taxes are proportional to the value of the property, impacting homeowners' annual expenses and influencing their financial planning.
Average Harman Tax Bill
$248
Average Randolph County Tax Bill
$381
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Harman, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26270 | $35 | $107 | $248 | $463 | $747 |
Source: Ownwell