Bowden, West Virginia Property Taxes
The median property tax rate in Bowden, WV is 0.74%, slightly higher than the state median of 0.72% but below the national median of 0.99%. With a median home value of $335,400 in Bowden, the typical annual property tax bill reaches $2,968, surpassing the national median of $2,690. Property taxes in Bowden are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Bowden'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 Bowden or another part of Tucker County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bowden, 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 Bowden Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Bowden. By simply entering your property's estimated assessed value, the calculator applies the median tax rate to project your property tax bill. This insightful tool helps you understand potential tax liabilities and plan accordingly. For those interested in more detailed information, scrolling down reveals trends at a neighborhood level. Understanding your property’s assessed value, which is determined by the county for tax calculations and includes any applicable exemptions, is essential for accurate tax planning.
Property Tax Rates Across Bowden, West Virginia
Property taxes in Bowden, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bowden is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Bowden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bowden 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 Bowden's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26254 zip code has the highest median property tax rate of 0.74%, while the 26254 zip code also has the lowest median tax rate of 0.74%. Understanding how these cities compare with Bowden provides valuable insights into the varying tax landscape across Tucker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bowden Tax Rate
0.74%
Average Tucker County Tax Rate
0.40%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bowden, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26254 | 0.47% | 0.57% | 0.74% | 0.91% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Bowden, West Virginia
In Bowden, 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 Tucker 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 Bowden, 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. For instance, the median home price is $335,400, with tax bills ranging from $1,867 at the 25th percentile to $4,730 at the 90th percentile. 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 Bowden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bowden Assessed Value
$335,400
Average Tucker County Assessed Value
$90,400
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bowden, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26254 | $221,400 | $264,150 | $335,400 | $406,650 | $449,400 |
Source: Ownwell
Property Tax Bills Across Bowden, West Virginia
In Bowden, Tucker County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. Homeowners in Bowden typically see a range of property tax bills, with the 25th percentile bill at $1,867 and the 75th percentile bill at $4,069. The highest median tax bill in the area is $2,968. These tax bills are influenced by various factors, including the property's assessed value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Bowden's property taxes can vary significantly, impacting homeowners differently depending on their property's value. For instance, those with homes in the higher value brackets may see tax bills as high as $4,730, which is in the 90th percentile. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Bowden Tax Bill
$2,968
Average Tucker County Tax Bill
$451
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Bowden, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26254 | $1,207 | $1,867 | $2,968 | $4,069 | $4,730 |
Source: Ownwell