Scarbro, West Virginia Property Taxes
The median property tax rate in Scarbro, WV is 0.77%, which is lower than the national median of 0.99% but slightly higher than the West Virginia state median of 0.72%. With a median home value of $39,050 in Scarbro, the typical annual property tax bill is $304, significantly below the national median of $2,690. Property taxes in Scarbro 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 Scarbro'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 Scarbro 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
Scarbro, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$301
Ownwell’s Scarbro Property Tax Bill Calculator is a valuable tool for any homeowner, real estate investor, or potential buyer looking to estimate their annual property taxes in Scarbro. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Scarbro to provide an estimate of 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 Fayette County for property tax calculations, taking into account any exemptions that may apply.
Property Tax Rates Across Scarbro, West Virginia
Property taxes in Scarbro, 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 Scarbro is 0.77%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Scarbro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scarbro 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 Scarbro's effective property tax rate to other areas in Fayette County and the national median. For comparison, the zip code 25917 has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these areas compare with Scarbro provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Scarbro Tax Rate
0.77%
Average Fayette County Tax Rate
0.77%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Scarbro, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25917 | 0.31% | 0.59% | 0.77% | 0.78% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Scarbro, West Virginia
In Scarbro, 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 Fayette 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 Scarbro, 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. For example, the highest median tax bill in Scarbro is $304 in the 25917 zip code, while the lowest is also $304 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Scarbro Assessed Value
$39,050
Average Fayette County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Scarbro, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25917 | $9,510 | $22,200 | $39,050 | $66,375 | $102,290 |
Source: Ownwell
Property Tax Bills Across Scarbro, West Virginia
In Scarbro, located in Fayette County, WV, property tax bills are determined based on the assessed value of a home. The median home price in this area is $39,050. Property taxes are calculated by applying the local tax rate to the assessed value, with the median property tax rate in the U.S. being 0.99%. Homeowners in Scarbro see a range of tax bills, with the 25th percentile at $162 and the 75th percentile at $527. The highest median tax bill recorded in the area is $304, which is consistent across the zip code 25917. These taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners must budget for these costs, as they are a significant aspect of homeownership. By understanding how property taxes are calculated, homeowners can better anticipate their annual expenses and the role these taxes play in maintaining and improving their community.
Average Scarbro Tax Bill
$304
Average Fayette County Tax Bill
$424
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Scarbro, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25917 | $69 | $162 | $304 | $527 | $810 |
Source: Ownwell