Bristol, West Virginia Property Taxes
The median property tax rate in Bristol, WV is 0.70%, which is lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $102,600 in Bristol, the typical annual property tax bill is $728, significantly below the national median of $2,690. Property taxes in Bristol are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Bristol's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Bristol or another part of Harrison County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bristol, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$718
Ownwell’s Bristol Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bristol with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bristol 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 Bristol, West Virginia
Property taxes in Bristol, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bristol is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Bristol set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bristol 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 Bristol's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26426 zip code has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these areas compare with Bristol provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bristol Tax Rate
0.70%
Average Harrison County Tax Rate
0.74%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bristol, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26426 | 0.50% | 0.70% | 0.70% | 0.70% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Bristol, West Virginia
In Bristol, 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 Harrison 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 Bristol, 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 Bristol helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is $728.00 in zip code 26426.
Average Bristol Assessed Value
$102,600
Average Harrison County Assessed Value
$76,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bristol, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26426 | $34,960 | $70,450 | $102,600 | $151,500 | $203,680 |
Source: Ownwell
Property Tax Bills Across Bristol, West Virginia
In Bristol, Harrison County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value typically represents a percentage of the property's market value. Homeowners in Bristol can expect varying tax bills depending on their property's assessed value and the local tax rate. For instance, the median home price in Bristol is $102,600, and tax bills can range significantly. At the 25th percentile, homeowners might pay around $460, while those at the 75th percentile could see bills as high as $1,090. The 90th percentile reaches up to $1,490. These figures illustrate how property taxes can impact homeowners differently based on their property's assessed value. Compared to the national median property tax rate of 0.99%, Bristol's tax bills reflect the local economic conditions and property values. This variability underscores the importance of understanding how local assessments and tax rates contribute to the overall tax burden for homeowners.
Average Bristol Tax Bill
$728
Average Harrison County Tax Bill
$688
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Bristol, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26426 | $253 | $460 | $728 | $1,090 | $1,490 |
Source: Ownwell