Williamsburg, West Virginia Property Taxes
The median property tax rate in Williamsburg, 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 Williamsburg at $66,500, the typical annual property tax bill reaches $380, significantly below the national median of $2,690. Property taxes in Williamsburg 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 Williamsburg'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 Williamsburg or another part of Greenbrier County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Williamsburg, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$379
Ownwell’s Williamsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Williamsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Williamsburg 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 Williamsburg, West Virginia
Property taxes in Williamsburg, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Williamsburg is 0.57%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Williamsburg set these rates annually, and they can vary across different neighborhoods. Each year, Williamsburg 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 Williamsburg's effective property tax rate to other areas in Greenbrier County and the national median. For comparison, the zip code 24991 has both the highest and lowest median property tax rate of 0.57%. Understanding how these areas compare with Williamsburg 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 Williamsburg 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 Williamsburg, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24991 | 0.30% | 0.49% | 0.57% | 0.57% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Williamsburg, West Virginia
In Williamsburg, 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 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 Williamsburg, 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. The median home price in Williamsburg is $66,500, with tax bills ranging from $198 at the 25th percentile to $903 at the 90th percentile. The highest and lowest median tax bills are both $380, located in zip code 24991. 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 Williamsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Williamsburg, West Virginia
Source: Ownwell
$21,300
$80,125
$138,950
Average Williamsburg Assessed Value
$66,500
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 Williamsburg, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24991 | $15,330 | $35,975 | $66,500 | $110,150 | $163,140 |
Source: Ownwell
Property Tax Bills Across Williamsburg, West Virginia
In Williamsburg, Greenbrier County, WV, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Williamsburg can expect their property tax bill to vary significantly based on the value of their home. For instance, the median home price in the area is $66,500, which results in varying tax bills across different percentiles. At the 25th percentile, homeowners might pay around $198, while those in the 75th percentile could see bills as high as $630. The top 10% of homeowners face even higher taxes, with bills reaching up to $903. These property taxes contribute to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Williamsburg's rates are relatively modest, making it a more affordable option for property owners in terms of annual tax obligations.
Average Williamsburg Tax Bill
$380
Average Greenbrier County Tax Bill
$454
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Williamsburg, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24991 | $100 | $198 | $380 | $630 | $903 |
Source: Ownwell