Flemington, West Virginia Property Taxes
The median property tax rate in Flemington, WV is 0.59%, considerably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Flemington at $72,550, the typical annual property tax bill reaches $538, which is well below the national median of $2,690. Property taxes in Flemington 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 Flemington'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 Flemington or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Flemington, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$428
Ownwell’s Flemington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Flemington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Flemington 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 Flemington, West Virginia
Property taxes in Flemington, West Virginia, are crucial for financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Flemington is 0.59%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Flemington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Flemington 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 Flemington's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 26347 has both the highest and lowest median property tax rate of 0.59%. Understanding how these areas compare with Flemington provides valuable insights into the varying tax landscape across Taylor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Flemington Tax Rate
0.59%
Average Taylor County Tax Rate
0.59%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Flemington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26347 | 0.33% | 0.52% | 0.59% | 0.74% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Flemington, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Flemington, West Virginia. 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 Taylor 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 Flemington, 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. For instance, the zip code with the highest median tax bill is 26347, standing at $538, which is also the lowest median tax bill in the area. 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 Flemington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Flemington, West Virginia
Source: Ownwell
$18,300
$103,200
$188,100
Average Flemington Assessed Value
$72,550
Average Taylor County Assessed Value
$85,250
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Flemington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26347 | $11,450 | $38,400 | $72,550 | $194,175 | $331,450 |
Source: Ownwell
Property Tax Bills Across Flemington, West Virginia
In Flemington, Taylor County, WV, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property’s market value and apply an assessment ratio. Homeowners in Flemington typically see tax bills that vary significantly, with the 25th percentile tax bill at $229 and the 75th percentile at $1152. The highest median tax bill in the area is $538, which is consistent across the zip code 26347. Several factors contribute to the final tax bill, including property size, location, and any applicable exemptions. For homeowners, these taxes fund essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Flemington’s property tax rates can be considered moderate, offering a balance between affordability and the quality of public services. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan accordingly.
Average Flemington Tax Bill
$538
Average Taylor County Tax Bill
$583
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Flemington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26347 | $93 | $229 | $538 | $1,152 | $1,993 |
Source: Ownwell