Williamstown, West Virginia Property Taxes
The median property tax rate in Williamstown, WV is 0.66%, which is notably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Williamstown at $138,650, the typical annual property tax bill amounts to $1,016, significantly below the national median of $2,690. Property taxes in Williamstown are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Williamstown'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 Williamstown 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
Williamstown, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$915
Ownwell’s Williamstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Williamstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Williamstown 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 Williamstown, West Virginia
Property taxes in Williamstown, 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 Williamstown is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Williamstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Williamstown 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 Williamstown's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26187 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 Williamstown 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 Williamstown 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 Williamstown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26187 | 0.53% | 0.66% | 0.66% | 0.81% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Williamstown, West Virginia
In Williamstown, 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 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 Williamstown, 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 Williamstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Williamstown are both $1,016, with the zip code 26187.
Property Tax Assessment Values Across Williamstown, West Virginia
Source: Ownwell
$21,500
$82,725
$143,950
Average Williamstown Assessed Value
$138,650
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 Williamstown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26187 | $35,000 | $98,525 | $138,650 | $194,000 | $292,200 |
Source: Ownwell
Property Tax Bills Across Williamstown, West Virginia
In Williamstown, WV, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in Williamstown can expect their property tax bills to vary significantly depending on several factors, including the home's assessed value and the local tax rate set by Wood County. The median home price in Williamstown is $138,650, and property tax bills range widely. For example, the 25th percentile tax bill is around $711, while the 75th percentile tax bill reaches $1,483. At the higher end, the 90th percentile tax bill can go up to $2,247. These property tax bills are influenced by both the value of the property and the specific rates applied by local taxing authorities. Compared to the national median property tax rate of 0.99%, Williamstown's rates reflect the local economic conditions and funding needs for public services. Consequently, property taxes in Williamstown have a direct impact on homeowners, affecting their annual financial planning and overall cost of homeownership.
Average Williamstown Tax Bill
$1,016
Average Wood County Tax Bill
$822
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Williamstown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26187 | $346 | $711 | $1,016 | $1,483 | $2,247 |
Source: Ownwell