Huntington, Wayne County, West Virginia Property Taxes
The median property tax rate in Huntington, WV is 0.74%, slightly higher than the state median of 0.72% but lower than the national median of 0.99%. With a median home value of $69,700, the typical annual property tax bill in Huntington is $551, significantly below the national median of $2,690. Property taxes in Huntington 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 Huntington'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 Huntington 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
Huntington, Wayne County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$516
$479
Ownwell’s Huntington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Huntington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Huntington 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 Huntington, Wayne County, West Virginia
Property taxes in Huntington, WV, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Huntington is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Huntington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Huntington 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 Huntington's effective property tax rate to other areas in Wayne County and the national median. For comparison, the 25702 zip code has the highest median property tax rate of 1.09%, while the 25701 zip code has the lowest median tax rate of 0.74%. Understanding how these areas compare with Huntington 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 Huntington 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 Huntington, Wayne County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25701 | 0.37% | 0.55% | 0.74% | 0.74% | 1.47% |
| 25702 | N/A | N/A | N/A | N/A | N/A |
| 25703 | N/A | N/A | N/A | N/A | N/A |
| 25704 | 0.41% | 0.60% | 0.74% | 0.93% | 1.47% |
| 25705 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Huntington, Wayne County, West Virginia
In Huntington, 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 local 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 Huntington, 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 example, the highest median tax bill in Huntington is $573 in the 25704 zip code, while the lowest median tax bill is $250 in the 25705 zip code. 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 Huntington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Huntington, Wayne County, West Virginia
Source: Ownwell
$27,600
$52,175
$76,750
Average Huntington Assessed Value
$69,700
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 Huntington, Wayne County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25701 | $11,380 | $33,300 | $62,200 | $88,900 | $122,060 |
| 25702 | N/A | N/A | N/A | N/A | N/A |
| 25703 | N/A | N/A | N/A | N/A | N/A |
| 25704 | $23,200 | $47,400 | $70,800 | $104,475 | $159,600 |
| 25705 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Huntington, Wayne County, West Virginia
In Huntington, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the Wayne County assessor. The assessed value typically reflects a percentage of the property's market value. For instance, with a median home price of $69,700, the tax bill can vary significantly depending on the assessed value and applicable tax rates. Factors such as property location, improvements, and market trends influence the assessed value. Homeowners in Huntington can expect their tax bills to range from $308 at the 25th percentile to $1,241 at the 90th percentile, with the median tax bill in the highest range being $573 in the 25704 zip code. Comparatively, the national median property tax rate is 0.99%, which highlights that Huntington's property tax rates can be both lower and higher depending on specific circumstances. These tax bills play a crucial role in funding local services, impacting homeowners' annual financial planning.
Average Huntington Tax Bill
$551
Average Wayne County Tax Bill
$426
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Huntington, Wayne County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25701 | $90 | $208 | $409 | $661 | $968 |
| 25702 | N/A | N/A | N/A | N/A | N/A |
| 25703 | N/A | N/A | N/A | N/A | N/A |
| 25704 | $155 | $330 | $573 | $867 | $1,279 |
| 25705 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell