Example of Upshur County Property Tax Calculation
Upshur County calculates property taxes based on the assessed value of the property. To determine the assessed value, the county uses a percentage of the market value of the property. This percentage varies depending on the location of the property and the type of property it is.
For example, if a residential property in Upshur County has a market value of $100,000, and the assessment rate for residential properties is set at 20%, the assessed value would be $20,000.
The county then applies the millage rate, which is the amount of tax per $1,000 of assessed value. Let's say the millage rate for the area is 50 mills. To calculate the property tax, you would take the assessed value of $20,000 and divide by 1,000 to get 20. Then, multiply 20 by the millage rate of 50 to get a total property tax of $1,000.
It's important to note that property tax rates can vary year to year and are subject to change based on local government decisions.
If you want appeal your property tax assessment - contact your local tax assessor.
Upshur County Property Tax Rates
Here's a formatted table of the Upshur County Property Tax Rates in US English, using Markdown:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $0.2593 |
| City of Buckhannon | $0.1800 |
| Town of Rock Cave | $0.1650 |
| Town of Tennerton | $0.1650 |
| Town of French Creek | $0.1550 |
| Town of Buckhannon | $0.1400 |
Note: These rates are subject to change, and may vary depending on the assessed value of the property. It's recommended to consult with a tax advisor for specific tax information and advice.
Who sets property tax rates in Upshur County ?
In Upshur County, property tax rates are set by the Upshur County Commissioners Court. This occurs annually during the budgeting process, typically in the fall of the year. The court reviews the county's financial needs and sets the tax rate accordingly. The property tax rate is expressed in dollars per $100 of assessed property value. The tax rate is then applied to the assessed value of the property to determine the amount of property tax owed. Property owners in Upshur County should consult with a tax advisor to ensure they are paying the correct amount of property tax.
| County | Upshur County |
|---|---|
| Authority | Upshur County Commissioners Court |
| Frequency | Annually |
| Time of year | Fall |
| Calculation | Dollars per $100 of assessed property value |
Homestead exemptions in Upshur County ?
In Upshur County, Texas, there are numerous Homestead exemptions and deductions available to homeowners. To help you understand these options, this blog post will provide a table with columns for exemption, eligibility, amount, and notes.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Residence Homestead | Own and occupy the property as a primary residence on January 1st of the tax year | 20% of the home's appraised value | Can be used to reduce school and county taxes |
| Age 65 or Older or Disabled Persons Homestead | At least 65 years old or disabled as defined by Social Security | Additional $10,000 exemption | Can be used to reduce school and county taxes |
| Disabled Veteran Homestead | Veteran with 100% disability rating from the VA | 100% exemption | Applies to the full value of the homestead property |
| Surviving Spouse of a Disabled Veteran Homestead | Surviving spouse of a veteran with 100% disability rating from the VA | 100% exemption | Applies to the full value of the homestead property |
| Surviving Spouse of a Member of the Armed Services Killed in Action Homestead | Surviving spouse of a member of the armed services killed in action | 100% exemption | Applies to the full value of the homestead property |
It's important to note that eligibility requirements may vary depending on the exemption or deduction. Homeowners should consult with their local tax assessor-collector for specific details and requirements.
By taking advantage of these Homestead exemptions and deductions, homeowners in Upshur County can potentially save thousands of dollars on their property taxes each year. It's always a good idea to explore all options and see which ones may apply to your unique situation.
When is Upshur County Property Tax due ?
Upshur County Property Tax is typically due on January 31st of each year. The payment methods vary and are as follows:
| Payment Method | Description |
|---|---|
| In-Person | Payments can be made in-person at the Tax Office located in the Upshur County Courthouse. |
| Payments can be mailed to the Upshur County Tax Office at P.O. Box 730, Gilmer, TX 75644. | |
| Online | Payments can be made online through the Upshur County Tax Office website. |
| Phone | Payments can be made over the phone by calling the Upshur County Tax Office. |
It is important to note that if the due date falls on a weekend or holiday, the payment will be due on the next business day. Additionally, failure to pay the property tax on time may result in penalties and interest charges. Therefore, it is recommended that property owners make their payments on or before the due date to avoid any extra fees.
If you have more questions - contact your local tax collector.
How is Upshur County Property Tax penalty calculated ?
Upshur County Property Tax Penalty Calculation
The penalty for late payment of property taxes in Upshur County, Texas is calculated based on the amount of unpaid taxes and the number of days late.
Here's an example:
Let's say that a property owner in Upshur County owes $1,000 in property taxes that were due on January 31st. If the owner fails to make the payment by February 1st, then a penalty of 6% is added to the unpaid amount ($60). Additionally, interest accrues at a rate of 1% per month on the unpaid balance.
After 30 days (March 1st), the total amount due increases to $1,060 ($1,000 + $60 penalty). Then, interest of 1% is added for the month of March, bringing the total amount due to $1,070.60 ($1,060 + $10.60 interest).
The penalty and interest will continue to accrue monthly until the outstanding tax bill is paid in full.
To summarize, the penalty for late payment of Upshur County property taxes is 6% of the unpaid amount, with interest accruing at a rate of 1% per month. It's important for property owners to pay their taxes on time to avoid penalties and additional costs.
| Payment Due Date | Penalty | Interest |
|---|---|---|
| January 31st | $0 | 0% |
| February 1st | $60 | 0% |
| March 1st | $60 | 1% |
| April 1st | $60 | 2% |
| May 1st | $60 | 3% |
| June 1st | $60 | 4% |
| July 1st | $60 | 5% |
| August 1st | $60 | 6% |
We recommend contacting the Upshur County Tax Office or a local tax professional for the most up-to-date and accurate information.