London, West Virginia Property Taxes
The median property tax rate in London, WV is 0.76%, 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 London being $40,200, the typical annual property tax bill comes to $322, which is significantly below the national median of $2,690. Property taxes in London are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding London'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 London 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
London, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$306
Ownwell’s London Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in London with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in London to provide an estimate of 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 London, West Virginia
Property taxes in London, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in London is 0.76%, lower than both the West Virginia state median of 0.57% and the U.S. national median of 0.99%. Local government entities within London set these rates annually, and they can vary significantly across different neighborhoods. Each year, London 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 London's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25126 zip code has the highest median property tax rate of 0.76%, while the same zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with London provides valuable insights into the varying tax landscape across Kanawha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average London Tax Rate
0.76%
Average Kanawha County Tax Rate
0.76%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across London, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25126 | 0.26% | 0.76% | 0.76% | 1.51% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across London, West Virginia
In London, 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 Kanawha 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 London, 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. The median home price in London is $40,200, with tax bills ranging from $130 at the 25th percentile to $670 at the 90th percentile. The zip code with the highest and lowest median tax bill is 25126, both at $322. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average London Assessed Value
$40,200
Average Kanawha County Assessed Value
$88,100
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across London, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25126 | $8,540 | $20,850 | $40,200 | $57,225 | $76,000 |
Source: Ownwell
Property Tax Bills Across London, West Virginia
Property tax bills in London, WV, are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. This value is then multiplied by the local property tax rate to determine the annual tax bill. In London, the median home price is $40,200, which provides a baseline for understanding property tax obligations. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For instance, the tax bill at the 25th percentile is $130, while at the 75th percentile, it rises to $522. The highest reported median tax bill in the area is $322, which is significantly lower than the national median property tax rate of 0.99%. These property taxes fund essential community services such as schools, public safety, and infrastructure. Homeowners in London need to budget for these annual expenses, as they directly impact their overall cost of living and financial planning.
Average London Tax Bill
$322
Average Kanawha County Tax Bill
$804
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across London, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25126 | $62 | $130 | $322 | $522 | $670 |
Source: Ownwell