Hurricane, West Virginia Property Taxes
The median property tax rate in Hurricane, WV is 0.75%, which is lower than the national median of 0.99% but slightly higher than the West Virginia state median of 0.72%. With the median home value in Hurricane, the typical annual property tax bill is $349, significantly below the national median of $2,690. Property taxes in Hurricane are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hurricane'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 Hurricane 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
Hurricane, West Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,440
Ownwell’s Hurricane Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hurricane using just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Hurricane to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, helping you plan better financially. For those interested in more detailed insights, you can explore trends at the neighborhood level by scrolling down. Your property's assessed value, determined by the county, is used for these calculations and considers any applicable exemptions.
Property Tax Rates Across Hurricane, West Virginia
Property taxes in Hurricane, West Virginia, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Hurricane is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities in Hurricane set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hurricane 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 Hurricane's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25526 has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with Hurricane provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hurricane Tax Rate
0.75%
Average Lincoln County Tax Rate
0.75%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hurricane, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25526 | 0.52% | 0.75% | 0.75% | 1.12% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Hurricane, West Virginia
In Hurricane, 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 Lincoln 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 Hurricane, 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 Hurricane helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 25526 has the highest median tax bill at $349, while the lowest median tax bill is also in zip code 25526 at $349.
Average Hurricane Assessed Value
$44,300
Average Lincoln County Assessed Value
$50,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hurricane, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25526 | $24,240 | $33,850 | $44,300 | $63,050 | $109,160 |
Source: Ownwell
Property Tax Bills Across Hurricane, West Virginia
In Hurricane, Lincoln County, WV, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value determined by the county assessor. Various factors, such as property size, location, and condition, influence this assessment. Homeowners in Hurricane typically face tax bills ranging from $329 at the 25th percentile to $495 at the 75th percentile, with the 90th percentile reaching up to $815. The highest and lowest median tax bills in the region are both $349, found in the zip code 25526. Compared to the national median property tax rate of 0.99%, Hurricane's property tax rates can be seen as relatively moderate, offering some relief to homeowners. These taxes fund essential services like public education, infrastructure, and emergency services, directly impacting the quality of life in the community. Understanding how these bills are calculated helps homeowners budget effectively and appreciate the value these taxes bring to their local area.
Average Hurricane Tax Bill
$349
Average Lincoln County Tax Bill
$343
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Hurricane, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25526 | $227 | $329 | $349 | $495 | $815 |
Source: Ownwell