Bridgeport, West Virginia Property Taxes
The median property tax rate in Bridgeport, WV is 0.59%, 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 Bridgeport at $188,100, the typical annual property tax bill is $1,116, significantly below the national median of $2,690. Property taxes in Bridgeport 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 Bridgeport'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 Bridgeport or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bridgeport, 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 Bridgeport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bridgeport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bridgeport 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 Bridgeport, West Virginia
Property taxes in Bridgeport, 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 Bridgeport is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Bridgeport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bridgeport 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 Bridgeport's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26330 has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these cities compare with Bridgeport provides valuable insights into the varying tax landscape across Taylor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bridgeport Tax Rate
0.59%
Average Taylor County Tax Rate
0.59%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bridgeport, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26330 | 0.46% | 0.53% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Bridgeport, West Virginia
In Bridgeport, 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 Taylor 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 Bridgeport, 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 Bridgeport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Bridgeport is $1,116 in the 26330 zip code, while the lowest median tax bill is also $1,116 in the same zip code.
Property Tax Assessment Values Across Bridgeport, West Virginia
Source: Ownwell
$18,300
$103,200
$188,100
Average Bridgeport Assessed Value
$188,100
Average Taylor County Assessed Value
$85,250
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bridgeport, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26330 | $48,400 | $118,950 | $188,100 | $269,100 | $356,580 |
Source: Ownwell
Property Tax Bills Across Bridgeport, West Virginia
In Bridgeport, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Bridgeport, the median home price is $188,100, with property tax bills ranging significantly. At the lower end, the 25th percentile tax bill is $675, while the 75th percentile reaches $1,593, and the 90th percentile can go up to $2,114. Several factors influence the tax bill, including the property's market value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Bridgeport's tax rates can vary widely, affecting homeowners differently based on their specific property values and circumstances. For instance, the highest median tax bill in the region, found in zip code 26330, is $1,116. These variations highlight the importance of understanding local property tax assessments and how they impact individual financial planning for homeowners.
Average Bridgeport Tax Bill
$1,116
Average Taylor County Tax Bill
$583
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Bridgeport, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26330 | $317 | $675 | $1,116 | $1,593 | $2,114 |
Source: Ownwell