Burlington, West Virginia Property Taxes
The median property tax rate in Burlington, WV is 0.52%, 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 $78,250 in Burlington, the typical annual property tax bill is $409, well below the national median of $2,690. Property taxes in Burlington are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Burlington'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 Burlington 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
Burlington, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$407
Ownwell’s Burlington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burlington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burlington 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 Burlington, West Virginia
Property taxes in Burlington, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burlington is 0.52%, significantly lower than the U.S. national median of 0.99%. Local government entities within Burlington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burlington 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 Burlington's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26710 zip code has both the highest and lowest median property tax rate of 0.52%. Understanding how these cities compare with Burlington provides valuable insights into the varying tax landscape across Hampshire County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burlington Tax Rate
0.52%
Average Hampshire County Tax Rate
0.52%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burlington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26710 | 0.35% | 0.47% | 0.52% | 0.52% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Burlington, West Virginia
In Burlington, 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 Hampshire 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 Burlington, 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 Burlington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $409.00, found in the 26710 zip code.
Property Tax Assessment Values Across Burlington, West Virginia
Source: Ownwell
$61,800
$203,650
$345,500
Average Burlington Assessed Value
$78,250
Average Hampshire County Assessed Value
$102,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burlington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26710 | $29,400 | $40,625 | $78,250 | $119,325 | $181,850 |
Source: Ownwell
Property Tax Bills Across Burlington, West Virginia
In Burlington, Hampshire County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The county uses a specific assessment ratio to determine this value. Homeowners in Burlington can expect their property tax bills to vary significantly, with the 25th percentile at $268 and the 75th percentile reaching $681. For those at the 90th percentile, tax bills can go up to $962. These tax bills are influenced by various factors, including the assessed value of the property and local tax rates. The median home price in Burlington is $78,250, and with a national median property tax rate of 0.99%, homeowners in this area might find their tax rates relatively comparable. The highest median tax bill in the county is $409, and interestingly, the lowest median tax bill is also $409, indicating a consistent tax rate within the zip code 26710. This consistency can provide homeowners with a predictable financial outlook, aiding in better budgeting and financial planning.
Average Burlington Tax Bill
$409
Average Hampshire County Tax Bill
$567
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Burlington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26710 | $162 | $268 | $409 | $681 | $962 |
Source: Ownwell