Hendricks, West Virginia Property Taxes
The median property tax rate in Hendricks, WV is 0.43%, considerably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Hendricks at $84,000, the typical annual property tax bill reaches $374, significantly below the national median of $2,690. Property taxes in Hendricks are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hendricks'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 Hendricks 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
Hendricks, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$361
Ownwell’s Hendricks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hendricks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hendricks 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 Hendricks, West Virginia
Property taxes in Hendricks, 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 Hendricks is 0.43%, significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Hendricks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hendricks 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 Hendricks' effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26271 zip code has both the highest and lowest median property tax rate of 0.43%. Understanding how these cities compare with Hendricks 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 Hendricks Tax Rate
0.43%
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 Hendricks, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26271 | 0.28% | 0.40% | 0.43% | 0.79% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Hendricks, West Virginia
In Hendricks, 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'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 Hendricks, 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 Hendricks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hendricks is $84,000, with annual tax bills ranging from $245 at the 25th percentile to $877 at the 90th percentile. Interestingly, the highest and lowest median tax bills are both $374, found in the 26271 zip code.
Property Tax Assessment Values Across Hendricks, West Virginia
Source: Ownwell
$67,700
$201,550
$335,400
Average Hendricks Assessed Value
$84,000
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 Hendricks, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26271 | $11,220 | $47,200 | $84,000 | $115,600 | $164,360 |
Source: Ownwell
Property Tax Bills Across Hendricks, West Virginia
In Hendricks, property tax bills are calculated based on the assessed value of a home, which is determined by the Tucker County assessor's office. The assessed value is a percentage of the market value of the property. The local tax rate is then applied to this assessed value to calculate the annual property tax bill. For instance, with a median home price of $84,000, homeowners can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $245, while the 75th percentile reaches approximately $646. At the higher end, the 90th percentile tax bill is about $877. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners in Hendricks benefit from relatively lower property tax rates compared to the national median of 0.99%. This makes owning a home more affordable, though it’s important to consider how these taxes can fluctuate based on changes in assessed values and local tax rates.
Average Hendricks Tax Bill
$374
Average Tucker County Tax Bill
$451
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Hendricks, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26271 | $118 | $245 | $374 | $646 | $877 |
Source: Ownwell