Halltown, West Virginia Property Taxes
The median property tax rate in Halltown, 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 $132,500 in Halltown, the typical annual property tax bill is around $929, significantly below the national median of $2,690. Property taxes in Halltown are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Halltown'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 Halltown or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Halltown, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$927
Ownwell’s Halltown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Halltown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Halltown 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 Halltown, West Virginia
Property taxes in Halltown, 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 Halltown is 0.56%, which is lower than both the West Virginia state median of 0.59% and the U.S. national median of 0.99%. Local government entities within Halltown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Halltown 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 Halltown's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25425 zip code has the highest median property tax rate of 0.56%, while the 25425 zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Halltown provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Halltown Tax Rate
0.70%
Average Jefferson County Tax Rate
0.70%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Halltown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25423 | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Halltown, West Virginia
In Halltown, 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 Jefferson 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 Halltown, 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 Halltown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Halltown are both $929, found in the 25423 zip code.
Property Tax Assessment Values Across Halltown, West Virginia
Source: Ownwell
$121,900
$238,400
$354,900
Average Halltown Assessed Value
$132,500
Average Jefferson County Assessed Value
$267,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Halltown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25423 | $132,500 | $132,500 | $132,500 | $132,500 | $132,500 |
Source: Ownwell
Property Tax Bills Across Halltown, West Virginia
In Halltown, located in Jefferson County, WV, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is typically a percentage of the market value. For homeowners in Halltown, the median home price stands at $132,500. With a property tax bill median at $929, this suggests a tax rate that is relatively competitive when compared to the national median property tax rate of 0.99%. The tax bill is influenced by several factors, including the home's assessed value, applicable exemptions, and local tax rates set by Jefferson County. For instance, homes in the 25th, 75th, and 90th percentiles all see a consistent tax bill of $929, which indicates a standardized approach in the area. This consistent tax bill can provide homeowners with a predictable financial outlook, making it easier to budget for annual expenses. However, any changes in assessed values or tax rates could impact future tax bills, underscoring the importance of staying informed about local property tax policies.
Average Halltown Tax Bill
$929
Average Jefferson County Tax Bill
$2,072
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Halltown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25423 | $929 | $929 | $929 | $929 | $929 |
Source: Ownwell