Erbacon, West Virginia Property Taxes
The median property tax rate in Erbacon, WV is 0.41%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Erbacon, the typical annual property tax bill is $141, far below the national median of $2,690. Property taxes in Erbacon 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 Erbacon'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 Erbacon or another part of Webster County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Erbacon, 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 Erbacon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Erbacon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Erbacon 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 Erbacon, West Virginia
Property taxes in Erbacon, West Virginia, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Erbacon is 0.41%, significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Erbacon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Erbacon 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 Erbacon's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26203 zip code has the highest median property tax rate of 0.41%, while the 26203 zip code also has the lowest median tax rate of 0.41%. Understanding how these cities compare with Erbacon provides valuable insights into the varying tax landscape across Webster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Erbacon Tax Rate
0.41%
Average Webster County Tax Rate
0.41%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Erbacon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26203 | 0.19% | 0.41% | 0.41% | 0.81% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Erbacon, West Virginia
In Erbacon, 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 Webster 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 Erbacon, 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 Erbacon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $141.00 in the zip code 26203.
Average Erbacon Assessed Value
$26,900
Average Webster County Assessed Value
$32,900
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Erbacon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26203 | $4,000 | $12,250 | $26,900 | $48,175 | $68,650 |
Source: Ownwell
Property Tax Bills Across Erbacon, West Virginia
In Erbacon, located in Webster County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Erbacon is $26,900. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Erbacon experience a range of tax bills. For instance, the tax bill at the 25th percentile is $61, while at the 75th percentile, it is $238. The 90th percentile sees tax bills around $368. The highest median tax bill in the area is recorded at $141, which is notably lower than the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Lower property tax bills can make homeownership more affordable, but they may also reflect the level of public services available in the community.
Average Erbacon Tax Bill
$141
Average Webster County Tax Bill
$149
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Erbacon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26203 | $32 | $61 | $141 | $238 | $368 |
Source: Ownwell