Belmont, West Virginia Property Taxes
The median property tax rate in Belmont, WV is 0.86%, slightly lower than the national median of 0.99% but higher than the West Virginia state median of 0.72%. With a median home value of $99,000 in Belmont, the typical annual property tax bill amounts to $715, which is well below the national median of $2,690. Property taxes in Belmont are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. By understanding Belmont's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Belmont or another part of the city, a thorough understanding of the local property tax system will benefit you financially.
Last Updated June 14, 2024
Belmont, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$851
Ownwell’s Belmont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Belmont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Belmont 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 Belmont, West Virginia
Property taxes in Belmont, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Belmont is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Belmont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belmont 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 Belmont's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26134 zip code has the highest median property tax rate of 0.86%, while the same zip code also has the lowest median tax rate of 0.86%. Understanding how these cities compare with Belmont provides valuable insights into the varying tax landscape across Pleasants County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belmont Tax Rate
0.86%
Average Pleasants County Tax Rate
0.72%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belmont, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26134 | 0.50% | 0.61% | 0.86% | 0.86% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Belmont, West Virginia
In Belmont, 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 Belmont, 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 Belmont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 26134 has the highest and lowest median tax bill at $715.
Average Belmont Assessed Value
$99,000
Average Pleasants County Assessed Value
$82,700
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belmont, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26134 | $20,840 | $67,300 | $99,000 | $124,600 | $152,360 |
Source: Ownwell
Property Tax Bills Across Belmont, West Virginia
In Belmont, property tax bills are determined by assessing the value of your home and applying the local tax rate. The median home price in Belmont is $99,000, which serves as a benchmark for calculating property taxes. The assessed value of your property is multiplied by the local tax rate to determine your tax bill. Various factors, such as property size, location, and improvements, can influence the assessed value. Homeowners in Belmont can expect a range of property tax bills. The 25th percentile tax bill is $446, while the 75th percentile tax bill is $1022. For those at the higher end, the 90th percentile tax bill reaches $1312. Compared to the national median property tax rate of 0.99%, Belmont offers a relatively affordable property tax environment, with the highest median tax bill recorded at $715 in the 26134 zip code. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly.
Average Belmont Tax Bill
$715
Average Pleasants County Tax Bill
$593
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Belmont, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26134 | $173 | $446 | $715 | $1,022 | $1,312 |
Source: Ownwell