Herndon, West Virginia Property Taxes
The median property tax rate in Herndon, WV is 0.68%, which is lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Herndon at $22,100, the typical annual property tax bill amounts to $170, significantly below the national median of $2,690. Property taxes in Herndon 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 Herndon'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 Herndon 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
Herndon, 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 Herndon Property Tax Bill Calculator aids homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Herndon with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Herndon to project your property tax bill. This valuable tool provides clarity on potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Herndon, West Virginia
Property taxes in Herndon, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Herndon is 0.68%, lower than the U.S. national median of 0.99%. Local government entities within Herndon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Herndon 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 Herndon's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 24726 zip code has the highest median property tax rate of 0.68%, while the same zip code also has the lowest median tax rate of 0.68%. Understanding how these areas compare with Herndon provides valuable insights into the varying tax landscape across Wyoming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Herndon Tax Rate
0.68%
Average Wyoming County Tax Rate
0.68%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Herndon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24726 | 0.29% | 0.68% | 0.68% | 1.37% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Herndon, West Virginia
In Herndon, 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 Herndon, 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 Herndon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Herndon is $22,100, with tax bills ranging from $85 at the 25th percentile to $408 at the 90th percentile. The highest median tax bill is $170 in the 24726 zip code.
Average Herndon Assessed Value
$22,100
Average Wyoming County Assessed Value
$25,000
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Herndon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24726 | $5,450 | $12,800 | $22,100 | $34,250 | $55,950 |
Source: Ownwell
Property Tax Bills Across Herndon, West Virginia
In Herndon, Wyoming County, WV, property tax bills are calculated based on the assessed value of the home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Herndon typically see tax bills reflecting this assessed value, with the median home price being $22,100. Several factors influence the tax bill, including property size, improvements, and location. For example, tax bills in Herndon range from the 25th percentile at $85 to the 75th percentile at $265, with the 90th percentile reaching $408. These figures indicate a wide range of property values and corresponding tax obligations. The median property tax rate in Herndon is comparable to the national median of 0.99%, meaning homeowners here experience tax bills that are neither significantly higher nor lower than the average American homeowner. Understanding these factors can help homeowners anticipate their annual property tax obligations and budget accordingly.
Average Herndon Tax Bill
$170
Average Wyoming County Tax Bill
$190
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Herndon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24726 | $38 | $85 | $170 | $265 | $408 |
Source: Ownwell