Hillsboro, West Virginia Property Taxes
The median property tax rate in Hillsboro, WV is 0.57%, considerably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Hillsboro at $121,900, the typical annual property tax bill reaches $698, significantly below the national median of $2,690. Property taxes in Hillsboro are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hillsboro'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 Hillsboro 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
Hillsboro, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$695
Ownwell’s Hillsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hillsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hillsboro 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 Hillsboro, West Virginia
Property taxes in Hillsboro, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hillsboro is 0.57%, lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Hillsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hillsboro 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. For comparison, the zip code 24946 has the highest median property tax rate of 0.57%, while the same zip code also has the lowest median tax rate of 0.57%. Understanding how these cities compare with Hillsboro provides valuable insights into the varying tax landscape across Greenbrier County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hillsboro Tax Rate
0.57%
Average Greenbrier County Tax Rate
0.57%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hillsboro, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24946 | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Hillsboro, West Virginia
In Hillsboro, 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 Greenbrier County Appraisal District 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 Hillsboro, 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 Hillsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Hillsboro are both $698, found in the 24946 zip code.
Average Hillsboro Assessed Value
$121,900
Average Greenbrier County Assessed Value
$70,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hillsboro, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24946 | $121,900 | $121,900 | $121,900 | $121,900 | $121,900 |
Source: Ownwell
Property Tax Bills Across Hillsboro, West Virginia
In Hillsboro, Greenbrier County, WV, property tax bills are determined by assessing the value of a home and applying the local tax rate. The assessed value is a percentage of the market value of the property, which is determined by the county assessor. This value is then multiplied by the local property tax rate to calculate the annual tax bill. For homeowners in Hillsboro, the median home price is $121,900, and the property tax rate is applied uniformly across the region. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. In Hillsboro, the median property tax bill is $698, which is significantly lower than the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable, but it's essential for homeowners to stay informed about their property's assessed value and any changes in local tax rates to anticipate future tax obligations accurately.
Average Hillsboro Tax Bill
$698
Average Greenbrier County Tax Bill
$454
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Hillsboro, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24946 | $698 | $698 | $698 | $698 | $698 |
Source: Ownwell