Kimberly, West Virginia Property Taxes
The median property tax rate in Kimberly, WV is 0.77%, slightly below the national median of 0.99% but higher than the West Virginia state median of 0.72%. With the median home value in Kimberly at $29,200, the typical annual property tax bill is $201, significantly lower than the national median of $2,690. Property taxes in Kimberly are calculated based on the assessed value, which usually falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Kimberly'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 Kimberly 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
Kimberly, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$225
Ownwell’s Kimberly Property Tax Bill Calculator is an indispensable tool for homeowners, real estate investors, and potential buyers in Kimberly, WV. By simply entering your property's estimated assessed value, the calculator uses the median tax rate specific to Kimberly to provide an estimate of your annual property tax bill. This user-friendly tool offers a clear understanding of potential tax liabilities, ensuring you are well-prepared for any financial commitments. For those interested in more detailed insights, you can explore trends on a neighborhood level by scrolling down. The assessed value of your property, determined by Fayette County, is used for these calculations and takes into account any applicable exemptions.
Property Tax Rates Across Kimberly, West Virginia
Property taxes in Kimberly, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kimberly is 0.77%, lower than both the West Virginia state median of 0.58% and the U.S. national median of 0.99%. Local government entities within Kimberly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kimberly 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 Kimberly's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25118 zip code has the highest median property tax rate of 0.77%, while the 25118 zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Kimberly provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kimberly Tax Rate
0.77%
Average Fayette County Tax Rate
0.77%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kimberly, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25118 | 0.21% | 0.77% | 0.77% | 0.77% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Kimberly, West Virginia
In Kimberly, 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 Fayette 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 Kimberly, 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 Kimberly helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kimberly is $29,200, with the highest and lowest median tax bills both being $201 in zip code 25118.
Average Kimberly Assessed Value
$29,200
Average Fayette County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kimberly, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25118 | $5,560 | $19,900 | $29,200 | $39,850 | $57,420 |
Source: Ownwell
Property Tax Bills Across Kimberly, West Virginia
In Kimberly, Fayette County, WV, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the property's market value, which is periodically evaluated by the county assessor. For homeowners in Kimberly, the median home price stands at $29,200. Property tax bills can vary significantly, with the 25th percentile at $89 and the 75th percentile reaching $318. The 90th percentile tax bill is $471, reflecting the upper range of what homeowners might expect to pay. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Kimberly benefit from relatively low property tax bills compared to the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable, but it's essential for homeowners to stay informed about any changes in assessments or tax rates that could affect their annual tax obligations.
Average Kimberly Tax Bill
$201
Average Fayette County Tax Bill
$424
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Kimberly, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25118 | $30 | $89 | $201 | $318 | $471 |
Source: Ownwell