Hambleton, West Virginia Property Taxes
The median property tax rate in Hambleton, WV is 0.40%, 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 $71,000 in Hambleton, the typical annual property tax bill is $306, which is well below the national median of $2,690. Property taxes in Hambleton are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Hambleton'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 Hambleton 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
Hambleton, West Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,440
Ownwell’s Hambleton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hambleton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hambleton 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 Hambleton, West Virginia
Property taxes in Hambleton, 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 Hambleton is 0.41%, which is lower than the West Virginia state median of 0.55% and significantly below the U.S. national median of 0.99%. Local government entities within Hambleton set these rates annually, and they can vary across different neighborhoods. Each year, Hambleton 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 Hambleton's effective property tax rate to other counties in West Virginia and the national median. For comparison, ZIP code 26542 has the highest median property tax rate of 0.60%, while ZIP code 26287 has the lowest median tax rate of 0.30%. Understanding how these cities compare with Hambleton provides valuable insights into the varying tax landscape across Tucker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hambleton Tax Rate
0.40%
Average Tucker County Tax Rate
0.40%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hambleton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26269 | 0.25% | 0.37% | 0.40% | 0.53% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Hambleton, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hambleton, 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 Tucker 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 Hambleton, 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. The zip code 26269 has the highest and lowest median tax bill of $306. Being aware of these valuation processes in Hambleton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Hambleton, West Virginia
Source: Ownwell
$67,700
$201,550
$335,400
Average Hambleton Assessed Value
$71,000
Average Tucker County Assessed Value
$90,400
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hambleton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26269 | $10,740 | $34,600 | $71,000 | $110,900 | $148,800 |
Source: Ownwell
Property Tax Bills Across Hambleton, West Virginia
In Hambleton, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the Tucker County tax assessor. The median home price in Hambleton stands at $71,000, and the tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and any improvements made to the property are considered in the assessment process. Homeowners in Hambleton can expect their tax bills to vary. For instance, those in the 25th percentile pay around $150 annually, while those in the 75th percentile see bills closer to $466. At the 90th percentile, tax bills can reach up to $632. The highest and lowest median tax bills in the region are both $306, indicating some consistency within certain areas. Compared to the national median property tax rate of 0.99%, Hambleton's tax rates provide a relatively affordable option for homeowners, making it an attractive place for property investment.
Average Hambleton Tax Bill
$306
Average Tucker County Tax Bill
$451
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Hambleton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26269 | $64 | $150 | $306 | $466 | $632 |
Source: Ownwell