Beeson, West Virginia Property Taxes
The median property tax rate in Beeson, WV, is 0.68%, which is lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Beeson, the typical annual property tax bill is $342, significantly below the national median of $2,690. Property taxes in Beeson are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Beeson'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 Beeson 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
Beeson, 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 Beeson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beeson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beeson 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 Beeson, West Virginia
Property taxes in Beeson, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beeson is 0.68%, lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Beeson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beeson 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 Beeson's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 24714 zip code has the highest median property tax rate of 0.68%, while the same 24714 zip code also has the lowest median tax rate of 0.68%. Understanding how these cities compare with Beeson provides valuable insights into the varying tax landscape across Mercer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beeson Tax Rate
0.68%
Average Mercer County Tax Rate
0.68%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beeson, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24714 | 0.24% | 0.52% | 0.68% | 0.69% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Beeson, West Virginia
In Beeson, 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 Mercer 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 Beeson, 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 Beeson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 24714, while the lowest median tax bill is also in zip code 24714, both with a value of $342.
Average Beeson Assessed Value
$50,200
Average Mercer County Assessed Value
$60,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beeson, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24714 | $8,100 | $29,200 | $50,200 | $102,000 | $149,920 |
Source: Ownwell
Property Tax Bills Across Beeson, West Virginia
In Beeson, Mercer County, WV, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and represents a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $50,200, homeowners can expect varying tax bills depending on their property’s assessed value and the applicable tax rate. Factors such as property size, location, and any improvements or renovations can influence the assessed value. In Beeson, the 25th percentile tax bill is $158, while the 75th percentile tax bill is $699, indicating a range of potential tax liabilities for homeowners. The highest median tax bill recorded in the area is $342. Compared to the national median property tax rate of 0.99%, Beeson's rates provide a relatively affordable option for homeowners, affecting their overall cost of living and financial planning.
Average Beeson Tax Bill
$342
Average Mercer County Tax Bill
$442
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Beeson, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24714 | $59 | $158 | $342 | $699 | $1,048 |
Source: Ownwell