Washington, West Virginia Property Taxes
The median property tax rate in Washington, WV is 0.66%, considerably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Washington at $143,950, the typical annual property tax bill reaches $917, significantly below the national median of $2,690. Property taxes in Washington are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Washington'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 Washington or another part of Wood County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Washington, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$950
Ownwell’s WASHINGTON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WASHINGTON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WASHINGTON 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 Washington, West Virginia
Property taxes in Washington, 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 Washington stands at 0.66%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Washington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washington 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 Washington's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26181 zip code has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Washington provides valuable insights into the varying tax landscape across Wood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Washington Tax Rate
0.66%
Average Wood County Tax Rate
0.66%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26181 | 0.49% | 0.55% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Washington, West Virginia
In Washington, 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 Wood 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 Washington, 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 Washington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in the area is $917, found in the 26181 zip code, while the lowest median tax bill is also $917 in the same zip code.
Property Tax Assessment Values Across Washington, West Virginia
Source: Ownwell
$21,500
$82,725
$143,950
Average Washington Assessed Value
$143,950
Average Wood County Assessed Value
$103,100
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Washington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26181 | $25,680 | $95,400 | $143,950 | $191,950 | $263,030 |
Source: Ownwell
Property Tax Bills Across Washington, West Virginia
In Washington, Wood County, WV, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and typically reflects a percentage of the market value of the property. Once the assessed value is established, local tax rates are applied to calculate the annual property tax bill. These rates can vary based on the specific needs and budgets of local government entities, such as schools and public services. Homeowners in Washington can expect varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $606, while the 75th percentile reaches $1,256, and the 90th percentile can go up to $1,744. These figures show a range of what homeowners might pay, influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, this local variation highlights the importance of understanding how property taxes are calculated and the impact on household budgets.
Average Washington Tax Bill
$917
Average Wood County Tax Bill
$822
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Washington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26181 | $255 | $606 | $917 | $1,256 | $1,744 |
Source: Ownwell