Bluefield, West Virginia Property Taxes
The median property tax rate in Bluefield, 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 Bluefield at $53,200, the typical annual property tax bill amounts to $402, significantly below the national median of $2,690. Property taxes in Bluefield 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 Bluefield'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 Bluefield or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bluefield, 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 Bluefield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bluefield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bluefield 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 Bluefield, West Virginia
Property taxes in Bluefield, 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 Bluefield is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Bluefield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bluefield 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 Bluefield's effective property tax rate to other regions in West Virginia and the national median. For comparison, the zip code 24701 has both the highest and lowest median property tax rate in the county at 0.68%. Understanding how these areas compare with Bluefield 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 Bluefield 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 Bluefield, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24701 | 0.34% | 0.61% | 0.68% | 0.83% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Bluefield, West Virginia
In Bluefield, 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 local 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 Bluefield, 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 Bluefield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Bluefield is $402 in the 24701 zip code, which is also the lowest median tax bill, highlighting the uniformity in property tax assessments within the area.
Average Bluefield Assessed Value
$53,200
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 Bluefield, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24701 | $6,800 | $25,025 | $53,200 | $89,500 | $139,960 |
Source: Ownwell
Property Tax Bills Across Bluefield, West Virginia
In Bluefield, located in Mercer County, WV, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, which in Bluefield is influenced by various factors such as location, property size, and home condition. The median home price in Bluefield is $53,200, and the property tax rate is applied to this assessed value to determine the tax bill. Homeowners in Bluefield can expect their property tax bills to vary significantly. The 25th percentile tax bill is $189, while the 75th percentile tax bill is $721, and the 90th percentile tax bill reaches $1,141. This variation highlights how different property values and specific local factors can impact the overall tax burden. Compared to the national median property tax rate of 0.99%, Bluefield's property tax rate offers a relatively affordable option for homeowners. However, understanding these factors and how they influence the tax bill is crucial for homeowners to manage their finances effectively.
Average Bluefield Tax Bill
$402
Average Mercer County Tax Bill
$442
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Bluefield, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24701 | $78 | $189 | $402 | $721 | $1,141 |
Source: Ownwell