Burnsville, West Virginia Property Taxes
The median property tax rate in Burnsville, WV is 0.56%, 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 Burnsville at $52,650, the typical annual property tax bill is $273, far below the national median of $2,690. Property taxes in Burnsville 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 Burnsville'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 Burnsville 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
Burnsville, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$295
Ownwell’s Burnsville Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Burnsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burnsville to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making financial planning easier. For those interested in more detailed insights, localized neighborhood trends are available further down the page. Your property’s assessed value, determined by the county, serves as the basis for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Burnsville, West Virginia
Property taxes in Burnsville, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burnsville is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Burnsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burnsville 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 Burnsville's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26335 zip code has the highest median property tax rate of 0.56%, while the 26335 zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Burnsville provides valuable insights into the varying tax landscape across Gilmer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burnsville Tax Rate
0.56%
Average Gilmer County Tax Rate
0.56%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burnsville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26335 | 0.22% | 0.37% | 0.56% | 0.56% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Burnsville, West Virginia
In Burnsville, 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 Gilmer 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 Burnsville, 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. For instance, the median home price in Burnsville is $52,650. The 25th percentile tax bill is around $100, while the 75th percentile tax bill reaches approximately $446. The highest median tax bill, found in the 26335 zip code, is $273. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Burnsville Assessed Value
$52,650
Average Gilmer County Assessed Value
$54,050
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burnsville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26335 | $3,600 | $27,550 | $52,650 | $93,575 | $114,200 |
Source: Ownwell
Property Tax Bills Across Burnsville, West Virginia
In Burnsville, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Burnsville can expect their tax bills to vary significantly, with the 25th percentile at $100 and the 75th percentile at $446. The highest median tax bill in the neighboring area is $273, which is relatively modest compared to the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's location, size, and condition. Local tax rates and any applicable exemptions or deductions also play a role. For homeowners, understanding how these elements contribute to their overall tax burden is crucial for financial planning. Lower property tax bills can make homeownership more affordable, while higher taxes may impact monthly budgets and long-term financial goals. By staying informed about how property taxes are calculated, homeowners can better anticipate and manage their expenses.
Average Burnsville Tax Bill
$273
Average Gilmer County Tax Bill
$350
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Burnsville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26335 | $44 | $100 | $273 | $446 | $691 |
Source: Ownwell