Alum Bridge, West Virginia Property Taxes
The median property tax rate in Alum Bridge, WV, is 0.53%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $55,350 in Alum Bridge, the typical annual property tax bill is $352, which is much less than the national median of $2,690. Property taxes in Alum Bridge are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Alum Bridge's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Alum Bridge or another part of Lewis County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alum Bridge, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$293
Ownwell’s ALUM BRIDGE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ALUM BRIDGE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ALUM BRIDGE 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 Alum Bridge, West Virginia
Property taxes in Alum Bridge, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alum Bridge is 0.53%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Alum Bridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alum Bridge 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 Alum Bridge's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 26321 has the highest median property tax rate of 0.53%, while the same zip code also has the lowest median tax rate of 0.53%. Understanding how these areas compare with Alum Bridge provides valuable insights into the varying tax landscape across Lewis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alum Bridge Tax Rate
0.53%
Average Lewis County Tax Rate
0.53%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alum Bridge, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26321 | 0.37% | 0.53% | 0.53% | 1.06% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Alum Bridge, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Alum Bridge, WV. 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 Lewis 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 Alum Bridge, 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. For instance, the highest median tax bill in Alum Bridge is $352, found in zip code 26321. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Alum Bridge, West Virginia
Source: Ownwell
$45,500
$79,275
$113,050
Average Alum Bridge Assessed Value
$55,350
Average Lewis County Assessed Value
$72,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alum Bridge, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26321 | $5,430 | $21,725 | $55,350 | $106,575 | $161,700 |
Source: Ownwell
Property Tax Bills Across Alum Bridge, West Virginia
In Alum Bridge, property tax bills are calculated based on the assessed value of a home, which is determined by the Lewis County Assessor's Office. The assessed value is a percentage of the property's market value. For a median home price of $55,350, the tax bill can vary significantly. The 25th percentile tax bill is around $138, while the 75th percentile reaches $642. At the 90th percentile, homeowners might see tax bills as high as $934. These variations are influenced by factors such as property improvements, location, and changes in the local real estate market. Homeowners in Alum Bridge should be aware that their property tax bills can fluctuate annually based on these assessments. Compared to the national median property tax rate of 0.99%, Alum Bridge's rates can present a more affordable option for residents. However, understanding these factors can help homeowners better anticipate and manage their annual property tax obligations.
Average Alum Bridge Tax Bill
$352
Average Lewis County Tax Bill
$437
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Alum Bridge, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26321 | $45 | $138 | $352 | $642 | $934 |
Source: Ownwell