Montgomery, West Virginia Property Taxes
The median property tax rate in Montgomery, WV is 0.98%, closely aligning with the national median of 0.99% but significantly higher than the West Virginia state median of 0.72%. With the median home value in Montgomery at $42,800, the typical annual property tax bill is $456, considerably lower than the national median of $2,690. Property taxes in Montgomery are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Montgomery'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 Montgomery 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
Montgomery, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$419
Ownwell’s Montgomery Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montgomery with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montgomery 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 Montgomery, West Virginia
Property taxes in Montgomery, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montgomery is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Montgomery set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montgomery 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 Montgomery's effective property tax rate to other areas in West Virginia and the national median. For comparison, the 25136 zip code has both the highest and lowest median property tax rates in Montgomery at 0.98%. Understanding how these areas compare with Montgomery 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 Montgomery Tax Rate
0.98%
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 Montgomery, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25136 | 0.32% | 0.76% | 0.98% | 1.96% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Montgomery, West Virginia
In Montgomery, 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 Montgomery, 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 Montgomery helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 25136 has the highest and lowest median tax bill at $456.
Property Tax Assessment Values Across Montgomery, West Virginia
Source: Ownwell
$23,100
$104,350
$185,600
Average Montgomery Assessed Value
$42,800
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 Montgomery, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25136 | $17,100 | $30,750 | $42,800 | $56,800 | $81,300 |
Source: Ownwell
Property Tax Bills Across Montgomery, West Virginia
In Montgomery, property tax bills are calculated based on the assessed value of a home, which is often a percentage of its market value. The median home price in Montgomery is $42,800. Tax rates are applied to this assessed value to determine the annual tax bill. Homeowners in Montgomery can expect their tax bills to vary significantly, with 25th percentile bills around $235 and 75th percentile bills reaching $734. At the 90th percentile, tax bills can go up to $1,080. Several factors influence these tax bills, including property location within Kanawha County, property size, and any applicable exemptions or deductions. These taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Montgomery homeowners generally experience lower tax rates, providing some financial relief. However, the variation in tax bills means that understanding specific local assessments is crucial for accurate financial planning.
Average Montgomery Tax Bill
$456
Average Kanawha County Tax Bill
$804
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Montgomery, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25136 | $104 | $235 | $456 | $734 | $1,080 |
Source: Ownwell