Buckhannon, Upshur County, West Virginia Property Taxes
The median property tax rate in Buckhannon, 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 $91,800 in Buckhannon, the typical annual property tax bill amounts to $513, well below the national median of $2,690. Property taxes in Buckhannon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Buckhannon'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 Buckhannon 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
Buckhannon, Upshur County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$487
$451
Ownwell’s Buckhannon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buckhannon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buckhannon 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 Buckhannon, Upshur County, West Virginia
Property taxes in Buckhannon, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buckhannon is 0.53%, significantly lower than the U.S. national median of 0.99%. Local government entities within Buckhannon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buckhannon 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 Buckhannon's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26201 zip code has the highest median property tax rate of 0.53%, while the 26201 zip code also has the lowest median tax rate of 0.53%. Understanding how these cities compare with Buckhannon provides valuable insights into the varying tax landscape across Upshur County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buckhannon Tax Rate
0.53%
Average Upshur County Tax Rate
0.53%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buckhannon, Upshur County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26201 | 0.35% | 0.49% | 0.53% | 0.69% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Buckhannon, Upshur County, West Virginia
In Buckhannon, 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 Upshur 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 Buckhannon, 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 Buckhannon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Buckhannon is $91,800, with the highest and lowest median tax bills both being $513 in the 26201 zip code.
Property Tax Assessment Values Across Buckhannon, Upshur County, West Virginia
Source: Ownwell
$31,200
$64,550
$97,900
Average Buckhannon Assessed Value
$91,800
Average Upshur County Assessed Value
$85,400
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buckhannon, Upshur County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26201 | $11,500 | $47,700 | $91,800 | $135,100 | $192,600 |
Source: Ownwell
Property Tax Bills Across Buckhannon, Upshur County, West Virginia
In Buckhannon, located in Upshur County, WV, property tax bills are calculated based on the assessed value of a home, which is often a percentage of the market value. The median home price in Buckhannon is $91,800, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property location, improvements, and exemptions can influence the assessed value. Homeowners in Buckhannon typically see property tax bills ranging from $263 at the 25th percentile to $811 at the 75th percentile, with the highest median tax bill recorded at $513 in the 26201 zip code. These tax bills are crucial for funding local services such as schools, infrastructure, and emergency services. While the national median property tax rate is 0.99%, Buckhannon's rates can vary, impacting homeowners' financial planning and overall cost of living. Understanding these factors helps homeowners anticipate their annual expenses and manage their budgets effectively.
Average Buckhannon Tax Bill
$513
Average Upshur County Tax Bill
$463
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Buckhannon, Upshur County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26201 | $100 | $263 | $513 | $811 | $1,175 |
Source: Ownwell