Lesage, West Virginia Property Taxes
The median property tax rate in Lesage, WV is 0.82%, slightly lower than the national median of 0.99% but higher than the West Virginia state median of 0.72%. With a median home value of $71,700 in Lesage, the typical annual property tax bill amounts to $585, which is significantly below the national median of $2,690. Property taxes in Lesage are based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Lesage's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in the heart of Lesage or another part of Cabell County, grasping the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Lesage, 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 Lesage Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lesage with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lesage 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 Lesage, West Virginia
Property taxes in Lesage, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lesage is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Lesage set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lesage 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 Lesage's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25537 has both the highest and lowest median property tax rate of 0.82%. Understanding how these cities compare with Lesage provides valuable insights into the varying tax landscape across Cabell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lesage Tax Rate
0.82%
Average Cabell County Tax Rate
0.82%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lesage, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25537 | 0.43% | 0.58% | 0.82% | 0.82% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Lesage, West Virginia
In Lesage, 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 Cabell County Assessor's Office 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 Lesage, 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. For instance, the median home price in Lesage is $71,700, with tax bills ranging from $349 at the 25th percentile to $1,319 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lesage Assessed Value
$71,700
Average Cabell County Assessed Value
$80,550
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lesage, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25537 | $23,710 | $44,700 | $71,700 | $101,000 | $151,100 |
Source: Ownwell
Property Tax Bills Across Lesage, West Virginia
In Lesage, Cabell County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value typically represents a percentage of the market value of the property. Homeowners in Lesage can expect their property tax bills to vary significantly depending on the value of their homes. For instance, the tax bill at the 25th percentile is around $349, while at the 75th percentile, it rises to $909. At the 90th percentile, homeowners might see a tax bill as high as $1319. The median home price in Lesage is $71,700, and the median property tax bill stands at $585, which is lower than the national median property tax rate of 0.99%. This lower tax rate can be beneficial for homeowners, as it reduces the annual financial burden. However, it’s essential to consider that property taxes are a critical source of funding for local services such as schools, public safety, and infrastructure.
Average Lesage Tax Bill
$585
Average Cabell County Tax Bill
$825
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Lesage, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25537 | $206 | $349 | $585 | $909 | $1,319 |
Source: Ownwell