Nebo, West Virginia Property Taxes
The median property tax rate in Nebo, WV is 0.50%, 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 Nebo at $38,700, the typical annual property tax bill amounts to $192, well below the national median of $2,690. Property taxes in Nebo are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Nebo'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 Nebo 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
Nebo, 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 Nebo Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers seeking to estimate their annual property taxes in Nebo. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Nebo to provide an accurate estimate of your property tax bill. This powerful tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed insights, scroll down to explore trends and localized information. Your property’s assessed value, determined by the county for tax purposes, includes any applicable exemptions, ensuring a precise calculation.
Property Tax Rates Across Nebo, West Virginia
Property taxes in Nebo, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nebo is 0.50%, lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Nebo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nebo 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 Nebo's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25141 zip code has the highest median property tax rate of 0.50%, while the same zip code also has the lowest median tax rate of 0.50%. Understanding how these cities compare with Nebo provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nebo Tax Rate
0.50%
Average Calhoun County Tax Rate
0.50%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nebo, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25141 | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Nebo, West Virginia
In Nebo, 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 Calhoun County 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 Nebo, 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 Nebo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Nebo both stand at $192, with the zip code 25141 reflecting this value.
Average Nebo Assessed Value
$38,700
Average Calhoun County Assessed Value
$50,300
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nebo, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25141 | $38,700 | $38,700 | $38,700 | $38,700 | $38,700 |
Source: Ownwell
Property Tax Bills Across Nebo, West Virginia
In NEBO, Calhoun County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is a percentage of the market value of the property. For instance, if the median home price in NEBO is $38,700, the assessed value would be a fraction of this amount, depending on the county's assessment ratio. The property tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property location, improvements made to the property, and any applicable exemptions or deductions. Homeowners in NEBO can expect a median tax bill of $192, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more affordable, but it also means that local services funded by property taxes might be more limited compared to areas with higher tax rates.
Average Nebo Tax Bill
$192
Average Calhoun County Tax Bill
$231
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Nebo, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25141 | $192 | $192 | $192 | $192 | $192 |
Source: Ownwell