Saxon, West Virginia Property Taxes
The median property tax rate in Saxon, WV is 0.72%, aligning with the state median but lower than the national median of 0.99%. With a median home value of $50,000 in Saxon, the typical annual property tax bill is $309, significantly below the national median of $2,690. Property taxes in Saxon are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Saxon'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 Saxon or another part of Raleigh County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Saxon, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$360
Ownwell’s Saxon Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Saxon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saxon to provide an estimate of your property tax bill. This user-friendly tool helps you understand potential tax liabilities, making it easier to plan your finances. 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 Saxon, West Virginia
Property taxes in Saxon, 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 Saxon is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Saxon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saxon 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 Saxon's effective property tax rate to other areas in Raleigh County and the national median. For comparison, the zip code 25180 has both the highest and lowest median property tax rate of 0.72%. Understanding how these areas compare with Saxon provides valuable insights into the varying tax landscape across Raleigh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saxon Tax Rate
0.72%
Average Raleigh County Tax Rate
0.72%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saxon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25180 | 0.28% | 0.53% | 0.72% | 0.72% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Saxon, West Virginia
In Saxon, 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 Raleigh County Assessor 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 Saxon, 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 Saxon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Saxon is $309, while the lowest median tax bill is also $309, both found in the zip code 25180.
Average Saxon Assessed Value
$50,000
Average Raleigh County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saxon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25180 | $13,720 | $23,600 | $50,000 | $69,300 | $105,100 |
Source: Ownwell
Property Tax Bills Across Saxon, West Virginia
Property tax bills in Saxon, located in Raleigh County, WV, are determined based on the assessed value of a property. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate. Homeowners in Saxon experience property tax bills that vary significantly. For instance, the tax bill at the 25th percentile is $170, while at the 75th percentile, it rises to $476. Those at the 90th percentile can expect to pay around $705. These figures are influenced by several factors, including property size, location, and improvements made to the property. The median home price in Saxon is $50,000, which is relatively low compared to national standards. This lower market value contributes to the more affordable property tax bills for homeowners in the area. It’s worth noting that the highest and lowest median tax bills in Saxon are both $309, which indicates a consistent tax rate within the region. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Saxon Tax Bill
$309
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Saxon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25180 | $100 | $170 | $309 | $476 | $705 |
Source: Ownwell