Points, West Virginia Property Taxes
The median property tax rate in Points, West Virginia is 0.52%, 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 Points at $114,050, the typical annual property tax bill reaches $625, significantly below the national median of $2,690. Property taxes in Points 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 Points' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Points 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
Points, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$593
Ownwell’s Points Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Points with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Points 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 Points, West Virginia
Property taxes in Points, West Virginia, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Points is 0.52%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Points set these rates annually, and they can vary significantly across different neighborhoods. Each year, Points 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 Points' effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25437 has both the highest and lowest median property tax rate of 0.52%. Understanding how these cities compare with Points 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 Points 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 Points, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25437 | 0.38% | 0.52% | 0.52% | 0.52% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Points, West Virginia
In {city_name}, 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's Office 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 {city_name}, 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 {city_name} helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price in this region is $114,050, with tax bills ranging from $366 at the 25th percentile to $1,318 at the 90th percentile. The zip code 25437 has the highest median tax bill of $625.
Average Points Assessed Value
$114,050
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 Points, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25437 | $37,430 | $60,400 | $114,050 | $171,050 | $235,520 |
Source: Ownwell
Property Tax Bills Across Points, West Virginia
Property tax bills in the city of Points in Hampshire County, WV, are calculated based on the assessed value of a property, which is determined by local authorities. The assessed value is often a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. In Points, the median home price is $114,050, and property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $366, while at the 75th percentile, it rises to $948, and at the 90th percentile, it reaches $1,318. These variations are influenced by factors such as property size, location, and any applicable exemptions. For homeowners, understanding these factors is crucial as they directly impact their annual financial obligations. Compared to the national median property tax rate of 0.99%, homeowners in Points may find their property taxes to be relatively moderate, making it an appealing location for property investment.
Average Points Tax Bill
$625
Average Hampshire County Tax Bill
$567
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Points, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25437 | $225 | $366 | $625 | $948 | $1,318 |
Source: Ownwell