Walton, West Virginia Property Taxes
The median property tax rate in Walton, WV is 0.53%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $69,650 in Walton, the typical annual property tax bill is $363, well below the national median of $2,690. Property taxes in Walton are determined based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Walton'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 Walton or another part of the county, grasping the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Walton, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$369
Ownwell’s Walton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walton 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 Walton, West Virginia
Property taxes in Walton, West Virginia, play an essential role in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Walton is 0.53%, which is lower than both the West Virginia state median of 0.53% and the U.S. national median of 0.99%. Local government entities within Walton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walton 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 Walton's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25286 zip code has both the highest and lowest median property tax rate of 0.53%. Understanding how these areas compare with Walton provides valuable insights into the varying tax landscape across Roane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walton Tax Rate
0.53%
Average Roane County Tax Rate
0.53%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25286 | 0.32% | 0.43% | 0.53% | 0.53% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Walton, West Virginia
In Walton, 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 Roane 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 Walton, 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 Walton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 25286 has both the highest and lowest median tax bill at $363.
Average Walton Assessed Value
$69,650
Average Roane County Assessed Value
$76,300
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25286 | $11,840 | $33,200 | $69,650 | $108,775 | $155,550 |
Source: Ownwell
Property Tax Bills Across Walton, West Virginia
In Walton, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Homeowners in Walton, Roane County, can expect their tax bills to vary significantly depending on the value of their homes. For instance, the 25th percentile tax bill is around $177, while the 75th percentile reaches $579. The highest median tax bill in the area is $363, notably lower than the national median property tax rate of 0.99%. Factors that influence the tax bill include property size, location, and any applicable exemptions or deductions. For homeowners, this means that those with higher-valued properties or fewer exemptions will see higher tax bills. Understanding these factors is crucial for homeowners to anticipate and manage their annual property tax expenses effectively. This variability underscores the importance of accurate property assessments and staying informed about potential changes in property tax laws and rates.
Average Walton Tax Bill
$363
Average Roane County Tax Bill
$415
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Walton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25286 | $73 | $177 | $363 | $579 | $871 |
Source: Ownwell