Mount Clare, West Virginia Property Taxes
The median property tax rate in Mount Clare, WV is 0.70%, which is lower than both the national median of 0.99% and West Virginia's state median of 0.72%. With the median home value in Mount Clare, the typical annual property tax bill amounts to $834, significantly below the national median of $2,690. Property taxes in Mount Clare are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mount Clare'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 Clare or another part of Harrison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Clare, 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 Mount Clare Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Clare with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Clare 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 Clare, West Virginia
Property taxes in Mount Clare, West Virginia, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Clare is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Mount Clare set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Clare 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 Clare's effective property tax rate to other areas in Harrison County and the national median. For comparison, the zip code 26408 has both the highest and the lowest median property tax rate of 0.70%. Understanding how these areas compare with Mount Clare provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Clare Tax Rate
0.70%
Average Harrison County Tax Rate
0.74%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Clare, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26408 | 0.48% | 0.59% | 0.70% | 0.70% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Mount Clare, West Virginia
In Mount Clare, 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 local 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 Mount Clare, 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 Clare helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Harrison County is $834.00 in the 26408 zip code, while the lowest median tax bill is also $834.00 in the same zip code.
Property Tax Assessment Values Across Mount Clare, West Virginia
Source: Ownwell
$6,500
$99,925
$193,350
Average Mount Clare Assessed Value
$120,350
Average Harrison County Assessed Value
$76,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Clare, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26408 | $12,630 | $59,900 | $120,350 | $188,725 | $277,670 |
Source: Ownwell
Property Tax Bills Across Mount Clare, West Virginia
In MOUNT CLARE, located in Harrison County, WV, property tax bills are calculated based on the assessed value of a property. The local government determines this value, which is a percentage of the property's market value. Several factors influence the assessed value, including the property's size, location, and condition. Homeowners in MOUNT CLARE can expect a range of property tax bills. For instance, the 25th percentile tax bill stands at $457, while the 75th percentile tax bill reaches $1369. At the 90th percentile, the tax bill can go up to $1976. The median home price in the area is $120,350, and the highest median tax bill recorded in the region is $834.00 in zip code 26408. These tax bills significantly impact homeowners, as they contribute to the overall cost of owning property. Compared to the national median property tax rate of 0.99%, MOUNT CLARE's tax bills reflect the local economic conditions and property values.
Average Mount Clare Tax Bill
$834
Average Harrison County Tax Bill
$688
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Clare, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26408 | $147 | $457 | $834 | $1,369 | $1,976 |
Source: Ownwell