Levels, Hampshire County, West Virginia Property Taxes
The median property tax rate in LEVELS, 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 LEVELS at $79,600, the typical annual property tax bill amounts to $419, which is well below the national median of $2,690. Property taxes in LEVELS are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding LEVELS' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of LEVELS or another part of Hampshire County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Levels, Hampshire County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$414
$384
Ownwell’s LEVELS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LEVELS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LEVELS 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 Levels, Hampshire County, West Virginia
Property taxes in LEVELS, West Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LEVELS is 0.52%, which is lower than the U.S. national median of 0.99%. Local government entities within LEVELS set these rates annually, and they can vary significantly across different neighborhoods. Each year, LEVELS 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 LEVELS's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25431 zip code has both the highest and lowest median property tax rate of 0.52%. Understanding how these cities compare with LEVELS 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 Levels 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 Levels, Hampshire County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25431 | 0.41% | 0.52% | 0.52% | 0.52% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Levels, Hampshire County, West Virginia
In Levels, 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 Levels, 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 Levels helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Hampshire County is $419 in the 25431 zip code, which is also the lowest.
Property Tax Assessment Values Across Levels, Hampshire County, West Virginia
Source: Ownwell
$61,800
$107,350
$152,900
Average Levels Assessed Value
$79,600
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 Levels, Hampshire County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25431 | $15,050 | $35,050 | $79,600 | $131,150 | $200,520 |
Source: Ownwell
Property Tax Bills Across Levels, Hampshire County, West Virginia
Property tax bills in LEVELS, Hampshire County, WV, are determined by assessing the value of a property and applying the local tax rate to this assessed value. The median home price in LEVELS is $79,600, and the tax rate is applied to this amount to calculate the annual tax bill. Homeowners in LEVELS can expect a wide range of tax bills based on their property values, with the 25th percentile tax bill at $218 and the 75th percentile reaching $771. For those at the 90th percentile, the tax bill can go up to $1,090. Factors influencing the tax bill include the assessed value of the property, any exemptions homeowners may qualify for, and the local tax rate. Comparatively, the property tax rate in LEVELS is lower than the national median of 0.99%, making it relatively affordable for homeowners. This lower tax burden can positively impact homeowners by reducing their annual expenses, thereby making homeownership more financially manageable.
Average Levels Tax Bill
$419
Average Hampshire County Tax Bill
$567
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Levels, Hampshire County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25431 | $140 | $218 | $419 | $771 | $1,090 |
Source: Ownwell