Bowden, West Virginia Property Taxes
The median property tax rate in Bowden, WV is 0.40%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Bowden at $78,600, the typical annual property tax bill amounts to $322, well below the national median of $2,690. Property taxes in Bowden 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 Bowden'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 Bowden or another part of Randolph County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bowden, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$314
Ownwell’s Bowden Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bowden with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Bowden to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Randolph County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Bowden, West Virginia
Property taxes in Bowden, 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 Bowden is 0.40%, significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Bowden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bowden 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 Bowden's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26254 zip code has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Bowden provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bowden Tax Rate
0.40%
Average Randolph County Tax Rate
0.40%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bowden, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26254 | 0.27% | 0.40% | 0.40% | 0.41% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Bowden, West Virginia
In Bowden, 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 Randolph 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 Bowden, 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 Bowden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Bowden are both $322, found in the 26254 zip code.
Average Bowden Assessed Value
$78,600
Average Randolph County Assessed Value
$82,600
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bowden, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26254 | $9,150 | $37,325 | $78,600 | $123,525 | $186,570 |
Source: Ownwell
Property Tax Bills Across Bowden, West Virginia
Property tax bills in Bowden, Randolph County, WV, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final amount, including the property's location, size, and any applicable exemptions. For homeowners in Bowden, the tax bill can vary significantly. The 25th percentile tax bill is around $162, while the 75th percentile is about $550, and the 90th percentile reaches up to $863. These figures highlight the range of property tax burdens within the area. Compared to the national median property tax rate of 0.99%, Bowden's rates reflect the local economic conditions and property values. Understanding these factors helps homeowners anticipate their annual property tax obligations, enabling better financial planning and management. The highest and lowest median tax bills in the area are both $322, indicating a relatively stable tax environment within the specific zip code of 26254.
Average Bowden Tax Bill
$322
Average Randolph County Tax Bill
$381
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Bowden, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26254 | $74 | $162 | $322 | $550 | $863 |
Source: Ownwell