Example of Braxton County Property Tax Calculation
In Braxton County, property taxes are calculated by multiplying the assessed value of a property by the current tax rate. For example, if a property in Braxton County has an assessed value of $100,000 and the current tax rate is 1%, the property taxes would be calculated as follows:
Assessed value of property = $100,000 Tax rate = 1%
Property taxes = $100,000 x 0.01 = $1,000
Therefore, the property taxes for this property in Braxton County would be $1,000. It is important to note that the assessed value of a property may be different than the market value, and the tax rate may vary depending on local government decisions.
If you want appeal your property tax assessment - contact your local tax assessor.
Braxton County Property Tax Rates
The Braxton County Property Tax rates for 2021 are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| General County | $0.80 |
| Ambulance Service | $0.06 |
| Fire Levy | $0.15 |
| School Levy (Class I) | $0.93 |
| School Levy (Class II) | $1.86 |
| School Levy (Class III) | $3.72 |
These rates are subject to change and may vary depending on the specific property's location and assessed value. It is recommended to consult with a local tax advisor for further information and guidance.
Who sets property tax rates in Braxton County ?
Property tax rates in Braxton County are set by the Braxton County Commission. They determine the rate each year during the budget process. These rates are applicable to all property owners in the county, including residential, commercial, and industrial properties. The property tax rates may vary each year, depending on the county's financial needs and economic conditions. The county commission approves the rate, and it becomes effective on July 1st of each year. Property owners are notified of the new rates on their annual tax bill. It is important for property owners to understand how property taxes are calculated, as they are a significant expense that can impact their overall financial well-being.
Homestead exemptions in Braxton County ?
In Braxton County, West Virginia, there are several county-specific Homestead exemptions and deductions available. Here is a breakdown of each exemption and deduction with its eligibility criteria, maximum amount, and any additional notes:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Exemption | Any homeowner who resides in their property | $20,000 | Must apply by July 1st each year |
| Elderly Exemption | Homeowners 65 years or older with a household income of less than $20,000 | $20,000 | Must apply by July 1st each year |
| Disabled Exemption | Homeowners who are totally and permanently disabled with a household income of less than $20,000 | $20,000 | Must apply by July 1st each year |
| Veterans Exemption | Veterans who are 100% permanently and totally disabled or receive 100% disability benefits | $20,000 | Must provide proof of eligibility |
| Widows and Widowers Exemption | Widows and widowers with a household income of less than $20,000 | $20,000 | Must apply by July 1st each year |
| Agricultural Homestead Exemption | Any homeowner who uses their property for agricultural purposes | $5,000 | Must apply by July 1st each year |
It is important to note that these exemptions and deductions are subject to change and homeowners should check with their local tax assessor's office for the most up-to-date information. Additionally, some exemptions may require additional documentation, such as proof of income or disability status. Homeowners are encouraged to thoroughly review the eligibility criteria and application process for each exemption and deduction to ensure they receive the maximum benefit.
When is Braxton County Property Tax due ?
Braxton County Property Tax is typically due on September 1st of each year. However, taxpayers have until October 31st to pay their property tax without incurring any penalties or interest fees.
There are several payment methods available for Braxton County Property Tax. Taxpayers can pay their property tax in person at the Braxton County Courthouse, by mail, or online through the county's website.
Here are the payment methods available for Braxton County Property Tax:
| Payment Method | Description |
|---|---|
| In Person | Taxpayers can pay their property tax in person at the Braxton County Courthouse. They can pay by cash, check, or money order. |
| By Mail | Taxpayers can mail their property tax payment to the Braxton County Courthouse. They must include a check or money order and their property tax bill. |
| Online | Taxpayers can pay their property tax online through the county's website. They can pay by credit card or electronic check. |
Overall, taxpayers in Braxton County have several payment options available to them to pay their property tax.
If you have more questions - contact your local tax collector.
How is Braxton County Property Tax penalty calculated ?
Braxton County Property Tax Penalty Calculation
When property taxes are not paid on time in Braxton County, penalties are added to the amount owed. The penalty is calculated based on the amount of taxes owed and the number of days the payment is late.
The penalty for late payment of Braxton County property taxes is 1% per month, or a fraction thereof, on the unpaid balance from the due date until the date of payment. This means that if a taxpayer pays their taxes one day late, they will owe a penalty of 1% of the unpaid balance.
Here is an example to illustrate how the penalty is calculated:
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A property owner in Braxton County owes $1,000 in property taxes, which were due on September 1st.
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The owner does not make the payment until October 15th, which is 45 days late.
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The penalty for being 45 days late is calculated as follows:
$1,000 x 1% x 2 (months) = $20
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Therefore, the property owner will owe a penalty of $20 in addition to the $1,000 in property taxes.
It's important to note that the penalty for late payment of property taxes in Braxton County can add up quickly, so it's best to make payments on time to avoid additional fees.
We recommend contacting the Braxton County Tax Office or a local tax professional for the most up-to-date and accurate information.