Erbacon, West Virginia Property Taxes
The median property tax rate in Erbacon, WV is 0.46%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $27,000 in Erbacon, the typical annual property tax bill is just $95, far below the national median of $2,690. Property taxes in Erbacon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Erbacon'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 Erbacon or another part of Braxton County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Erbacon, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$124
Ownwell’s Erbacon Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and prospective buyers in Braxton County, WV. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Erbacon to provide an accurate estimate of your annual property tax bill. This tool offers a clear understanding of your potential tax liabilities, helping you make informed decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is crucial for these calculations and takes into account any applicable exemptions.
Property Tax Rates Across Erbacon, West Virginia
Property taxes in Erbacon, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Erbacon is 0.46%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Erbacon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Erbacon 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 Erbacon's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 26203 has both the highest and lowest median property tax rate of 0.46%. Understanding how these areas compare with Erbacon provides valuable insights into the varying tax landscape across Braxton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Erbacon Tax Rate
0.46%
Average Braxton County Tax Rate
0.46%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Erbacon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26203 | 0.35% | 0.46% | 0.46% | 0.46% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Erbacon, West Virginia
In Erbacon, 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 Braxton 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 Erbacon, 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 Erbacon is $27,000, with annual tax bills ranging from $61 at the 25th percentile to $604 at the 90th percentile. Being aware of these valuation processes in Erbacon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Erbacon Assessed Value
$27,000
Average Braxton County Assessed Value
$63,900
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Erbacon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26203 | $12,150 | $14,100 | $27,000 | $41,175 | $61,640 |
Source: Ownwell
Property Tax Bills Across Erbacon, West Virginia
In Erbacon, Braxton County, WV, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners in Erbacon can expect their tax bills to vary significantly depending on their property's assessed value and the applicable tax rate. For instance, the median home price in Erbacon is $27,000. Property tax bills in this area typically range from $61 at the 25th percentile to $185 at the 75th percentile, with the highest bills reaching up to $604 at the 90th percentile. These figures illustrate the variability in tax bills, which can be influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, the rates in Erbacon may appear more favorable, potentially making it an attractive location for homeowners looking to manage their property tax expenses effectively.
Average Erbacon Tax Bill
$95
Average Braxton County Tax Bill
$333
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Erbacon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26203 | $54 | $61 | $95 | $185 | $604 |
Source: Ownwell