Meadow Bridge, West Virginia Property Taxes
The median property tax rate in Meadow Bridge, 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 $78,400 in Meadow Bridge, the typical annual property tax bill is approximately $316, which is well below the national median of $2,690. Property taxes in Meadow Bridge are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding Meadow Bridge's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Meadow Bridge or another part of Summers County, a thorough grasp of the local property tax system will prove beneficial.
Last Updated June 14, 2024
Meadow Bridge, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$321
Ownwell’s Meadow Bridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Meadow Bridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Meadow Bridge 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 Meadow Bridge, West Virginia
Property taxes in Meadow Bridge, 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 Meadow Bridge is 0.41%, which is significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Meadow Bridge set these rates annually, and they can vary across different neighborhoods. Each year, Meadow Bridge 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 Meadow Bridge's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25976 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 Meadow Bridge 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.
Average Meadow Bridge 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 Meadow Bridge, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25976 | 0.22% | 0.31% | 0.41% | 0.45% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Meadow Bridge, West Virginia
In Meadow Bridge, 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 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 Meadow Bridge, 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 Meadow Bridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $78,400, with tax bills ranging from $182 at the 25th percentile to $752 at the 90th percentile. The highest and lowest median tax bills are both $316 in zip code 25976.
Property Tax Assessment Values Across Meadow Bridge, West Virginia
Source: Ownwell
$53,200
$106,050
$158,900
Average Meadow Bridge Assessed Value
$78,400
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 Meadow Bridge, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25976 | $18,840 | $42,800 | $78,400 | $121,950 | $171,320 |
Source: Ownwell
Property Tax Bills Across Meadow Bridge, West Virginia
In Meadow Bridge, located in Summers County, WV, property tax bills are calculated based on the assessed value of the home. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $78,400, homeowners can expect varying tax bills depending on the specific assessed value and applicable exemptions. Typically, tax bills in Meadow Bridge range from the 25th percentile at $182 to the 75th percentile at $502, with the 90th percentile reaching up to $752. The highest median tax bill recorded in the area is $316, which is notably lower than the national median property tax rate of 0.99%. These figures reflect a relatively affordable property tax burden for homeowners in Meadow Bridge, making it an attractive location for those looking to minimize their annual tax expenses. The overall impact on homeowners is a manageable tax bill, allowing for better financial planning and stability.
Average Meadow Bridge Tax Bill
$316
Average Summers County Tax Bill
$304
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Meadow Bridge, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25976 | $91 | $182 | $316 | $502 | $752 |
Source: Ownwell