Junior, West Virginia Property Taxes
The median property tax rate in Junior, WV is 0.53%, 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 Junior at $41,500, the typical annual property tax bill is $256, well below the national median of $2,690. Property taxes in Junior are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Junior'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 Junior 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
Junior, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$220
Ownwell’s JUNIOR Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in JUNIOR with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in JUNIOR 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 Junior, West Virginia
Property taxes in Junior, 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 Junior is 0.53%, which is significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Junior set these rates annually, and they can vary significantly across different neighborhoods. Each year, Junior 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 Junior's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 26275 has both the highest and lowest median property tax rate of 0.53%. Understanding how these areas compare with Junior provides valuable insights into the varying tax landscape across Barbour County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Junior Tax Rate
0.53%
Average Barbour County Tax Rate
0.39%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Junior, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26275 | 0.36% | 0.53% | 0.53% | 0.92% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Junior, West Virginia
In Junior, 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 Barbour 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 Junior, 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 Junior helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Junior are both $256, found in the 26275 zip code.
Average Junior Assessed Value
$41,500
Average Barbour County Assessed Value
$69,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Junior, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26275 | $31,700 | $33,750 | $41,500 | $50,825 | $53,800 |
Source: Ownwell
Property Tax Bills Across Junior, West Virginia
In Junior, located in Barbour County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Junior is $41,500. Property tax rates in this region are determined by local taxing authorities and can vary within the county. The tax bill for homeowners falls between the 25th percentile at $185 and the 75th percentile at $316, with the 90th percentile reaching up to $368. These tax bills are influenced by several factors, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. For homeowners, this means that their annual property tax bill can vary significantly based on these elements. In comparison to the national median property tax rate of 0.99%, homeowners in Junior may find their property tax rates to be relatively lower, offering some financial relief. However, it's essential for homeowners to stay informed about local tax rates and any potential changes that could impact their annual tax obligations.
Average Junior Tax Bill
$256
Average Barbour County Tax Bill
$319
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Junior, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26275 | $140 | $185 | $256 | $316 | $368 |
Source: Ownwell