Hurricane, Putnam County, West Virginia Property Taxes
The median property tax rate in Hurricane, WV is 0.73%, slightly higher than the West Virginia state median of 0.72% but below the national median of 0.99%. With a median home value of $162,900 in Hurricane, the typical annual property tax bill reaches $1,355, which is lower than the national median of $2,690. Property taxes in Hurricane are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Hurricane'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 Hurricane 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
Hurricane, 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
$1,189
$1,104
Ownwell’s Hurricane Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hurricane with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hurricane 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 Hurricane, Putnam County, West Virginia
Property taxes in Hurricane, WV, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hurricane is 0.51%, which is lower than both the West Virginia state median of 0.57% and the U.S. national median of 0.99%. Local government entities within Hurricane set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hurricane 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 Hurricane's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25526 zip code has both the highest and lowest median property tax rate of 0.73%. Understanding how these cities compare with Hurricane provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hurricane Tax Rate
0.73%
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 Hurricane, Putnam County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25526 | 0.58% | 0.73% | 0.73% | 0.95% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Hurricane, Putnam County, West Virginia
In Hurricane, 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 county 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 Hurricane, 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. For instance, in Putnam County, the median home price is $162,900, with tax bills ranging from $805 at the 25th percentile to $2,641 at the 90th percentile. The highest median tax bill of $1,355 is found in the 25526 zip code, which also has the lowest median 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 Hurricane helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Hurricane, Putnam County, West Virginia
Source: Ownwell
$36,950
$113,275
$189,600
Average Hurricane Assessed Value
$162,900
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 Hurricane, Putnam County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25526 | $38,220 | $94,000 | $162,900 | $246,400 | $323,100 |
Source: Ownwell
Property Tax Bills Across Hurricane, Putnam County, West Virginia
In Hurricane, located in Putnam County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $162,900, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Factors that influence the tax bill include the home's assessed value and any applicable exemptions or deductions. The tax bill can significantly impact homeowners, as it represents a recurring annual expense. In Hurricane, the 25th percentile tax bill is around $805, while the 75th percentile reaches $1,982, showing a range of what residents might pay. For those at the 90th percentile, the tax bill can go up to $2,641. Comparing these figures to the national median property tax rate of 0.99%, homeowners in Hurricane experience a diverse range of tax obligations, affecting their overall financial planning and homeownership costs.
Average Hurricane Tax Bill
$1,355
Average Putnam County Tax Bill
$1,099
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Hurricane, Putnam County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25526 | $372 | $805 | $1,355 | $1,982 | $2,641 |
Source: Ownwell