Mount Carbon, West Virginia Property Taxes
The median property tax rate in Mount Carbon, WV is 0.77%, 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 $59,100 in Mount Carbon, the typical annual property tax bill is $422, which is significantly below the national median of $2,690. Property taxes in Mount Carbon are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Mount Carbon'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 Mount Carbon 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
Mount Carbon, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$455
Ownwell’s Mount Carbon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Carbon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Carbon 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 Mount Carbon, West Virginia
Property taxes in Mount Carbon, West Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Carbon is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Mount Carbon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Carbon 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 Mount Carbon's effective property tax rate to other regions in Fayette County and the national median. For comparison, the 25139 zip code has both the highest and lowest median property tax rate of 0.77%. Understanding how these areas compare with Mount Carbon 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 Mount Carbon 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 Mount Carbon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25139 | 0.43% | 0.61% | 0.77% | 0.77% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Mount Carbon, West Virginia
In Mount Carbon, 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 Assessor 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 Mount Carbon, 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 Mount Carbon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $422 in the 25139 zip code, which also has the lowest median tax bill of $422.
Property Tax Assessment Values Across Mount Carbon, West Virginia
Source: Ownwell
$14,400
$74,050
$133,700
Average Mount Carbon Assessed Value
$59,100
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 Mount Carbon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25139 | $11,480 | $28,000 | $59,100 | $99,400 | $136,100 |
Source: Ownwell
Property Tax Bills Across Mount Carbon, West Virginia
In Mount Carbon, located in Fayette County, WV, property tax bills are calculated based on the assessed value of the property rather than its market value. The median home price in this area is $59,100. To determine the tax bill, local assessors evaluate the property's value, and then a tax rate is applied. The median tax bill in Mount Carbon is around $422, aligning with the county's highest and lowest median tax bills. For homeowners, tax bills can vary significantly, with the 25th percentile at $231 and the 75th percentile at $706, while the 90th percentile reaches up to $1,001. Compared to the national median property tax rate of 0.99%, Mount Carbon's rates are relatively modest, providing some relief for homeowners. These tax bills fund essential community services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Mount Carbon Tax Bill
$422
Average Fayette County Tax Bill
$424
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Carbon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25139 | $101 | $231 | $422 | $706 | $1,001 |
Source: Ownwell