Burton, West Virginia Property Taxes
The median property tax rate in Burton, WV is 0.64%, considerably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Burton at $99,600, the typical annual property tax bill reaches $643, significantly below the national median of $2,690. Property taxes in Burton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Burton'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 Burton or another part of Monongalia County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Burton, 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 Burton Property Tax Bill Calculator empowers homeowners, real estate investors, and prospective buyers to easily estimate their annual property taxes in Burton using just two key data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Burton to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the figure determined by the county for tax purposes, which may include applicable exemptions.
Property Tax Rates Across Burton, West Virginia
Property taxes in Burton, 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 Burton is 0.64%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Burton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burton 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. Understanding how these cities compare with Burton provides valuable insights into the varying tax landscape across Monongalia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burton Tax Rate
0.64%
Average Monongalia County Tax Rate
0.64%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26562 | 0.42% | 0.52% | 0.64% | 1.28% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Burton, West Virginia
In Burton, 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 local authorities 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 Burton, 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 Burton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $643.00, found in the zip code 26562.
Average Burton Assessed Value
$99,600
Average Monongalia County Assessed Value
$146,600
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26562 | $33,500 | $63,900 | $99,600 | $145,800 | $204,600 |
Source: Ownwell
Property Tax Bills Across Burton, West Virginia
In Burton, WV, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The property tax rate in this region directly influences the amount homeowners pay annually. For instance, with a median home price of $99,600, the assessed value is determined and then multiplied by the local tax rate to calculate the tax bill. Several factors contribute to the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Burton can expect their tax bills to vary significantly. The 25th percentile tax bill is around $415, while the 75th percentile reaches $1,129, and the 90th percentile can be as high as $1,395. These variations highlight how different property characteristics and valuations impact the tax burden. Understanding these factors is crucial for homeowners as it affects their annual financial planning. Comparing these figures to the national median property tax rate of 0.99%, Burton's property tax bills provide a context for evaluating local tax obligations.
Average Burton Tax Bill
$643
Average Monongalia County Tax Bill
$1,138
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Burton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26562 | $226 | $415 | $643 | $1,129 | $1,395 |
Source: Ownwell