Barboursville, West Virginia Property Taxes
The median property tax rate in Barboursville, WV is 0.74%, slightly higher than the state median of 0.72% but still below the national median of 0.99%. With the median home value in Barboursville at $41,800, the typical annual property tax bill amounts to $253, significantly lower than the national median of $2,690. Property taxes in Barboursville 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. Understanding Barboursville'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 Barboursville or another part of Wayne County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Barboursville, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$309
Ownwell’s Barboursville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barboursville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barboursville 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 Barboursville, West Virginia
Property taxes in Barboursville, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Barboursville is 0.74%, significantly lower than the U.S. national median of 0.99%. Local government entities within Barboursville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barboursville 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 Barboursville's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25504 zip code has both the highest and lowest median property tax rate of 0.74%. Understanding how these areas compare with Barboursville provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barboursville Tax Rate
0.74%
Average Wayne County Tax Rate
0.74%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barboursville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25504 | 0.32% | 0.74% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Barboursville, West Virginia
In Barboursville, 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 Wayne County Appraisal District 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 Barboursville, 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 Barboursville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 25504 has the highest and lowest median tax bill at $253.
Property Tax Assessment Values Across Barboursville, West Virginia
Source: Ownwell
$27,600
$57,500
$87,400
Average Barboursville Assessed Value
$41,800
Average Wayne County Assessed Value
$57,100
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barboursville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25504 | $4,680 | $20,900 | $41,800 | $68,600 | $125,920 |
Source: Ownwell
Property Tax Bills Across Barboursville, West Virginia
In Barboursville, property tax bills are calculated based on the assessed value of your home, which is determined by the Wayne County assessor. The assessed value typically reflects a percentage of the market value of the property. The local tax rate is then applied to this assessed value to determine the tax bill. For instance, with a median home price of $41,800, the tax bills vary significantly. Homeowners in the 25th percentile pay around $83, while those in the 75th percentile see bills closer to $507. At the 90th percentile, tax bills can reach up to $944. The highest median tax bill recorded in the area is $253, which is relatively low compared to the national median property tax rate of 0.99%. These varying amounts can impact homeowners differently, with lower property taxes providing some financial relief but also potentially reflecting lower public service funding. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Barboursville Tax Bill
$253
Average Wayne County Tax Bill
$426
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Barboursville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25504 | $42 | $83 | $253 | $507 | $944 |
Source: Ownwell