Jumping Branch, Summers County, West Virginia Property Taxes
The median property tax rate in Jumping Branch, WV, is 0.41%, 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 $90,300 in Jumping Branch, the typical annual property tax bill amounts to $362, which is well below the national median of $2,690. Property taxes in Jumping Branch are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Jumping Branch'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 Jumping Branch or another part of the county, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jumping Branch, Summers County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$370
$344
Ownwell’s Jumping Branch Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jumping Branch with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jumping Branch 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 Jumping Branch, Summers County, West Virginia
Property taxes in Jumping Branch, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jumping Branch is 0.41%, lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Jumping Branch set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jumping Branch 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 Jumping Branch's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25969 zip code has the highest median property tax rate of 0.41%, while the same zip code also has the lowest median tax rate of 0.41%. Understanding how these cities compare with Jumping Branch provides valuable insights into the varying tax landscape across Summers County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Property Tax Rates Across Jumping Branch, Summers County, West Virginia
Source: Ownwell
0.41%
0.41%
0.41%
Average Jumping Branch Tax Rate
0.41%
Average Summers County Tax Rate
0.41%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jumping Branch, Summers County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25969 | 0.26% | 0.34% | 0.41% | 0.41% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Jumping Branch, Summers County, West Virginia
In Jumping Branch, 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 Summers County Assessor's Office 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 Jumping Branch, 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. For instance, the median home price in Jumping Branch is $90,300, with tax bills ranging from $208 at the 25th percentile to $916 at the 90th percentile. The zip code 25969 has the highest and lowest median tax bill at $362. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Jumping Branch, Summers County, West Virginia
Source: Ownwell
$53,200
$106,050
$158,900
Average Jumping Branch Assessed Value
$90,300
Average Summers County Assessed Value
$66,000
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jumping Branch, Summers County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25969 | $20,600 | $46,100 | $90,300 | $142,700 | $213,600 |
Source: Ownwell
Property Tax Bills Across Jumping Branch, Summers County, West Virginia
In Jumping Branch, Summers County, WV, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Jumping Branch is $90,300. The local property tax rate is applied to this assessed value to determine the annual tax bill. For example, the tax bill in the 25th percentile is $208, while in the 75th percentile, it is $590. At the 90th percentile, homeowners can expect to pay around $916 annually. Factors that influence the tax bill include changes in the market value of properties, local government budgets, and any applicable exemptions or deductions. Property taxes in Jumping Branch can significantly impact homeowners' finances, as they are a recurring expense that must be budgeted for annually. Compared to the national median property tax rate of 0.99%, Jumping Branch offers a relatively affordable property tax environment, making it an attractive location for homeowners looking for lower tax burdens.
Average Jumping Branch Tax Bill
$362
Average Summers County Tax Bill
$304
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Jumping Branch, Summers County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25969 | $116 | $208 | $362 | $590 | $916 |
Source: Ownwell