Stumptown, West Virginia Property Taxes
The median property tax rate in Stumptown, WV is 0.56%, considerably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Stumptown at $12,600, the typical annual property tax bill is $123, significantly below the national median of $2,690. Property taxes in Stumptown 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 Stumptown'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 Stumptown 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
Stumptown, 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 Stumptown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stumptown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stumptown 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 Stumptown, West Virginia
Property taxes in Stumptown, West Virginia, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Stumptown is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Stumptown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stumptown 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 Stumptown's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25267 zip code has both the highest and lowest median property tax rate in the area at 0.56%. Understanding how these rates compare with Stumptown provides valuable insights into the varying tax landscape across Gilmer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stumptown Tax Rate
0.56%
Average Gilmer County Tax Rate
0.56%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stumptown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25267 | 0.56% | 0.56% | 0.56% | 0.84% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Stumptown, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Stumptown, West Virginia. 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 Gilmer 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 Stumptown, 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, zip code 25267 has both the highest and lowest median tax bill at $123. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stumptown Assessed Value
$12,600
Average Gilmer County Assessed Value
$54,050
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stumptown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25267 | $11,320 | $11,800 | $12,600 | $56,650 | $83,080 |
Source: Ownwell
Property Tax Bills Across Stumptown, West Virginia
In Stumptown, property tax bills are calculated based on the assessed value of the property, which is determined by the local county assessor. The median home price in Stumptown is $12,600. Property taxes are then calculated by applying the local tax rate to this assessed value. For example, the 25th percentile tax bill is $96, while the 75th percentile tax bill is $342, and the 90th percentile tax bill is $474. These figures illustrate the variability in tax bills depending on the value of the property. Several factors influence the tax bill, including the property's location, its assessed value, and any applicable exemptions or deductions. Homeowners in Stumptown can see a range of tax bills, with the highest median tax bill recorded at $123 in the zip code 25267. Compared to the national median property tax rate of 0.99%, Stumptown offers relatively low property tax bills, which can be a significant advantage for homeowners looking to manage their expenses.
Average Stumptown Tax Bill
$123
Average Gilmer County Tax Bill
$350
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Stumptown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25267 | $81 | $96 | $123 | $342 | $474 |
Source: Ownwell