Stonewood, West Virginia Property Taxes
The median property tax rate in Stonewood, WV is 0.92%, slightly lower than the national median of 0.99% but higher than the West Virginia state median of 0.72%. With the median home value in Stonewood at $68,600, the typical annual property tax bill reaches $622, which is below the national median of $2,690. Property taxes in Stonewood are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Stonewood'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 Stonewood 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
Stonewood, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$631
Ownwell’s Stonewood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stonewood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stonewood 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 Stonewood, West Virginia
Property taxes in Stonewood, 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 Stonewood is 0.92%, which is slightly below the U.S. national median of 0.99%. Local government entities within Stonewood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stonewood 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 Stonewood's effective property tax rate to other areas in Harrison County and the national median. For comparison, the zip code 26301 has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these areas compare with Stonewood 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 Stonewood Tax Rate
0.92%
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 Stonewood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26301 | 0.50% | 0.68% | 0.92% | 0.92% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Stonewood, West Virginia
In Stonewood, 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 Harrison County Assessor's Office 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 Stonewood, 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 Stonewood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $622 in the 26301 zip code, which is also the lowest median tax bill, highlighting the consistency in property tax assessments across Stonewood.
Average Stonewood Assessed Value
$68,600
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 Stonewood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26301 | $14,160 | $34,200 | $68,600 | $95,200 | $122,120 |
Source: Ownwell
Property Tax Bills Across Stonewood, West Virginia
In Stonewood, property tax bills are calculated based on the assessed value of a home, which is determined by the Harrison County assessor's office. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Stonewood, the median home price is $68,600. Factors such as property size, location, and improvements can influence the assessed value. The tax bill can vary significantly; for instance, the 25th percentile tax bill is $356, while the 75th percentile reaches $888, and the 90th percentile climbs to $1,279. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. These property taxes fund essential public services such as schools, roads, and emergency services, directly impacting the quality of life for Stonewood residents. Homeowners must budget for these taxes, as they are a recurring annual expense that can influence overall housing affordability.
Average Stonewood Tax Bill
$622
Average Harrison County Tax Bill
$688
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Stonewood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26301 | $190 | $356 | $622 | $888 | $1,279 |
Source: Ownwell