Centralia, West Virginia Property Taxes
The median property tax rate in Centralia, WV is 0.46%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Centralia, the typical annual property tax bill is $519, well below the national median of $2,690. Property taxes in Centralia are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Centralia's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Centralia 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
Centralia, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$480
Ownwell’s Centralia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Centralia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Centralia 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 Centralia, West Virginia
Property taxes in Centralia, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Centralia is 0.46%, which is lower than the U.S. national median of 0.99%. Local government entities within Centralia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Centralia 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 Centralia's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26601 has both the highest and lowest median property tax rate of 0.46%. Understanding how these areas compare with Centralia provides valuable insights into the varying tax landscape across Braxton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Centralia Tax Rate
0.46%
Average Braxton County Tax Rate
0.46%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Centralia, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26601 | 0.17% | 0.31% | 0.46% | 0.46% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Centralia, West Virginia
In Centralia, 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 Centralia, 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 Centralia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $519.00 in the 26601 zip code, while the lowest is also $519.00 in the same zip code, highlighting the uniformity in tax assessments within this region.
Property Tax Assessment Values Across Centralia, West Virginia
Source: Ownwell
$27,000
$107,550
$188,100
Average Centralia Assessed Value
$104,400
Average Braxton County Assessed Value
$63,900
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Centralia, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26601 | $23,410 | $47,575 | $104,400 | $164,975 | $225,050 |
Source: Ownwell
Property Tax Bills Across Centralia, West Virginia
In Centralia, Braxton County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Centralia is $104,400. Homeowners in this area experience varying tax bills, with the 25th percentile bill being $187 and the 75th percentile reaching $979, while the 90th percentile can go as high as $1,499. These figures illustrate the range of property taxes homeowners might expect, depending on the assessed value of their property and applicable tax rates. The assessed value is influenced by factors such as property size, location, and market conditions. Once the assessed value is established, it is multiplied by the local tax rate to determine the final tax bill. This system ensures that property taxes are proportionate to the value of the home, impacting homeowners' annual expenses. Compared to the national median property tax rate of 0.99%, Centralia's tax bills reflect the local economic conditions and property values.
Average Centralia Tax Bill
$519
Average Braxton County Tax Bill
$333
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Centralia, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26601 | $97 | $187 | $519 | $979 | $1,499 |
Source: Ownwell