Putnam County, West Virginia Property Taxes
The median property tax rate in Putnam County is 0.73%, which is slightly higher than the West Virginia state median of 0.72% but lower than the national median of 0.99%. With the median home value in Putnam County at $136,400, the typical annual property tax bill is approximately $1,099, significantly less than the national median of $2,690. Property taxes in Putnam County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions such as those for primary residences and agricultural properties. Understanding Putnam County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide substantial annual savings. Whether you live in Hurricane or another part of Putnam County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Putnam County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$996
$924
Ownwell’s Putnam County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Putnam County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Putnam County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Putnam County, West Virginia
Property taxes in Putnam County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Putnam County is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Putnam County set these rates annually, and they can vary significantly between different areas within the county. Each year, Putnam County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Nitro has one of the higher property tax rates in the region at 0.92%, while the city of Scott Depot boasts one of the lowest at 0.73%. Analyzing how Putnam County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Putnam County Tax Rate
0.73%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Putnam County, West Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bancroft | 0.23% | 0.59% | 0.88% | 1.02% | 1.76% |
| Buffalo | 0.43% | 0.65% | 0.73% | 0.88% | 1.46% |
| Charleston | N/A | N/A | N/A | N/A | N/A |
| Culloden | 0.50% | 0.61% | 0.73% | 0.73% | 0.77% |
| Eleanor | 0.62% | 0.71% | 0.88% | 0.88% | 0.98% |
| Fraziers Bottom | 0.52% | 0.62% | 0.73% | 0.73% | 0.81% |
| Given | 0.56% | 0.73% | 0.73% | 0.73% | 0.79% |
| Hamlin | 0.41% | 0.49% | 0.73% | 0.73% | 0.75% |
| Hometown | 0.48% | 0.73% | 0.77% | 1.46% | 3.69% |
| Hurricane | 0.58% | 0.73% | 0.73% | 0.95% | 1.46% |
| Leon | 0.43% | 0.61% | 0.73% | 0.73% | 0.78% |
| Liberty | 0.37% | 0.57% | 0.73% | 0.73% | 0.73% |
| Nitro | 0.44% | 0.73% | 0.92% | 0.99% | 1.85% |
| Poca | N/A | N/A | N/A | N/A | N/A |
| Red House | N/A | N/A | N/A | N/A | N/A |
| Saint Albans | 0.45% | 0.73% | 0.73% | 1.21% | 1.46% |
| Scott Depot | 0.58% | 0.64% | 0.73% | 0.73% | 0.73% |
| Winfield | 0.60% | 0.73% | 0.73% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Putnam County, West Virginia
In Putnam County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Putnam County Appraisal District. The assessed value, however, 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. Assessment notices in Putnam County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. With median home prices around $136,400, the cities with the highest and lowest median tax bills are Winfield at $1,439 and Bancroft at $340, respectively. Being aware of these valuation processes in Putnam County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Putnam County, West Virginia
Source: Ownwell
$36,950
$113,275
$189,600
Average Putnam County Assessed Value
$136,400
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Putnam County, West Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bancroft | $5,030 | $16,400 | $36,950 | $66,175 | $129,830 |
| Buffalo | $8,500 | $30,100 | $70,400 | $125,200 | $185,940 |
| Charleston | N/A | N/A | N/A | N/A | N/A |
| Culloden | $68,000 | $92,800 | $121,550 | $163,300 | $221,500 |
| Eleanor | $73,940 | $103,850 | $135,500 | $182,825 | $258,160 |
| Fraziers Bottom | $11,080 | $64,000 | $138,400 | $217,350 | $268,360 |
| Given | $22,380 | $48,950 | $109,250 | $161,725 | $236,590 |
| Hamlin | $10,840 | $58,750 | $84,200 | $107,600 | $209,380 |
| Hometown | $7,320 | $12,375 | $49,100 | $75,950 | $106,840 |
| Hurricane | $38,220 | $94,000 | $162,900 | $246,400 | $323,100 |
| Leon | $7,280 | $34,500 | $85,600 | $132,400 | $202,940 |
| Liberty | $14,740 | $44,175 | $99,850 | $156,450 | $233,420 |
| Nitro | $3,460 | $31,250 | $61,000 | $104,150 | $161,200 |
| Poca | N/A | N/A | N/A | N/A | N/A |
| Red House | N/A | N/A | N/A | N/A | N/A |
| Saint Albans | $4,070 | $32,450 | $68,650 | $107,200 | $129,750 |
| Scott Depot | $72,740 | $131,500 | $189,600 | $248,100 | $349,820 |
| Winfield | $15,270 | $117,800 | $177,700 | $266,075 | $374,440 |
Source: Ownwell
Property Tax Bills Across Putnam County, West Virginia
In Putnam County, WV, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The county then applies the local tax rate to this assessed value to determine the annual tax bill. Several factors influence this calculation, including the property's location, market conditions, and any applicable exemptions. Homeowners in Putnam County experience a range of tax bills. The 25th percentile tax bill is around $588, indicating that a quarter of the properties have tax bills below this amount. On the higher end, the 75th percentile tax bill is $1,722, and the 90th percentile reaches up to $2,407. Notably, Winfield has the highest median tax bill at $1,439, while Bancroft has the lowest at $340. Compared to the national median property tax rate of 0.99%, Putnam County's rates can be considered moderate, providing some relief to homeowners while still supporting local services. Understanding these factors helps homeowners anticipate their annual tax obligations and plan accordingly.
Average Putnam County Tax Bill
$1,099
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Putnam County, West Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bancroft | $45 | $117 | $340 | $747 | $1,099 |
| Buffalo | $115 | $278 | $617 | $1,046 | $1,586 |
| Charleston | N/A | N/A | N/A | N/A | N/A |
| Culloden | $424 | $604 | $886 | $1,193 | $1,715 |
| Eleanor | $581 | $846 | $1,147 | $1,633 | $2,323 |
| Fraziers Bottom | $169 | $485 | $954 | $1,602 | $2,003 |
| Given | $170 | $391 | $920 | $1,193 | $1,659 |
| Hamlin | $97 | $273 | $557 | $850 | $1,472 |
| Hometown | $120 | $292 | $457 | $682 | $924 |
| Hurricane | $372 | $805 | $1,355 | $1,982 | $2,641 |
| Leon | $109 | $255 | $541 | $942 | $1,391 |
| Liberty | $117 | $311 | $674 | $1,072 | $1,652 |
| Nitro | $87 | $296 | $611 | $965 | $1,579 |
| Poca | N/A | N/A | N/A | N/A | N/A |
| Red House | N/A | N/A | N/A | N/A | N/A |
| Saint Albans | $124 | $246 | $597 | $960 | $1,563 |
| Scott Depot | $531 | $961 | $1,362 | $1,840 | $2,589 |
| Winfield | $333 | $896 | $1,439 | $2,139 | $3,048 |
Source: Ownwell