Capon Springs, West Virginia Property Taxes
The median property tax rate in Capon Springs, WV is 0.52%, 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 Capon Springs at $144,650, the typical annual property tax bill is $669, well below the national median of $2,690. Property taxes in Capon Springs are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Capon Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Capon Springs 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
Capon Springs, West Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,440
Ownwell’s Capon Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Capon Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Capon Springs 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 Capon Springs, West Virginia
Property taxes in Capon Springs, West Virginia, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Capon Springs is 0.52%, lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Capon Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Capon Springs 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 Capon Springs' effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26823 has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Capon Springs 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 Capon Springs 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 Capon Springs, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26823 | 0.40% | 0.48% | 0.52% | 0.52% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Capon Springs, West Virginia
In Capon Springs, 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 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 Capon Springs, 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 Capon Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Capon Springs is $144,650, with median tax bills ranging from $321 at the 25th percentile to $1,872 at the 90th percentile. The highest and lowest median tax bills are both $669, found in zip code 26823.
Property Tax Assessment Values Across Capon Springs, West Virginia
Source: Ownwell
$61,800
$203,650
$345,500
Average Capon Springs Assessed Value
$144,650
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 Capon Springs, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26823 | $58,210 | $86,425 | $144,650 | $248,175 | $357,930 |
Source: Ownwell
Property Tax Bills Across Capon Springs, West Virginia
In Capon Springs, Hampshire County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value, and this assessment is then multiplied by the local tax rate to determine the annual tax bill. For instance, homeowners in Capon Springs face a range of property tax bills, with the 25th percentile at $321 and the 75th percentile at $1,298. The 90th percentile reaches up to $1,872. Factors such as property size, location, and improvements can influence the assessed value. Compared to the national median property tax rate of 0.99%, Capon Springs residents experience a varied tax burden. The highest and lowest median tax bills in the area both stand at $669, indicating some consistency in tax assessments within certain zip codes. These property taxes are crucial for funding local services such as schools, infrastructure, and public safety, directly impacting homeowners and their community.
Average Capon Springs Tax Bill
$669
Average Hampshire County Tax Bill
$567
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Capon Springs, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26823 | $252 | $321 | $669 | $1,298 | $1,872 |
Source: Ownwell