Bunker Hill, West Virginia Property Taxes
The median property tax rate in Bunker Hill, WV is 0.76%, slightly lower than the national median of 0.99% but higher than the West Virginia state median of 0.72%. With the median home value in Bunker Hill at $203,600, the typical annual property tax bill amounts to $1,597, which is below the national median of $2,690. Property taxes in Bunker Hill are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Bunker Hill'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 Bunker Hill or another part of Berkeley County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bunker Hill, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,547
Ownwell’s Bunker Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bunker Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bunker Hill 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 Bunker Hill, West Virginia
Property taxes in Bunker Hill, 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 Bunker Hill is 0.54%, which is significantly lower than both the West Virginia state median of 0.55% and the U.S. national median of 0.99%. Local government entities within Bunker Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bunker Hill 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 Bunker Hill's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25413 zip code has the highest median property tax rate of 0.76%, while the same zip code also has the lowest median tax rate of 0.76%. Understanding how these areas compare with Bunker Hill provides valuable insights into the varying tax landscape across Berkeley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bunker Hill Tax Rate
0.76%
Average Berkeley County Tax Rate
0.76%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bunker Hill, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25413 | 0.64% | 0.76% | 0.76% | 0.76% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Bunker Hill, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bunker Hill, WV. 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 Berkeley 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 Bunker Hill, 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. The median home price in Bunker Hill is $203,600. The 25th percentile tax bill is $1,229, while the 75th percentile tax bill is $2,070, and the 90th percentile tax bill is $2,572. The highest and lowest median tax bills both occur in the 25413 zip code, with a value of $1,597. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bunker Hill, West Virginia
Source: Ownwell
$129,800
$206,700
$283,600
Average Bunker Hill Assessed Value
$203,600
Average Berkeley County Assessed Value
$188,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bunker Hill, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25413 | $90,780 | $161,500 | $203,600 | $260,050 | $311,600 |
Source: Ownwell
Property Tax Bills Across Bunker Hill, West Virginia
In Bunker Hill, WV, property tax bills are calculated based on the assessed value of your home, which is determined by the Berkeley County Assessor's Office. The assessed value is a percentage of your property's market value, and this figure is then multiplied by the local property tax rate. With a median home price of $203,600, homeowners in Bunker Hill can expect their tax bills to vary widely. The 25th percentile tax bill stands at $1,229, while the 75th percentile tax bill is $2,070, and the 90th percentile tax bill reaches $2,572. For comparison, the national median property tax rate is 0.99%. In Bunker Hill, the median tax bill is $1,597, which is relatively moderate when compared to national figures. These property taxes fund essential local services such as schools, emergency services, and infrastructure, directly impacting the quality of life for residents. Understanding how these taxes are calculated helps homeowners budget effectively and anticipate any changes in their annual expenses.
Average Bunker Hill Tax Bill
$1,597
Average Berkeley County Tax Bill
$1,510
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Bunker Hill, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25413 | $759 | $1,229 | $1,597 | $2,070 | $2,572 |
Source: Ownwell