Wilsondale, West Virginia Property Taxes
The median property tax rate in WILSONDALE, WV is 0.75%, which is lower than the national median of 0.99% but slightly higher than the West Virginia state median of 0.72%. With a median home value of $50,550 in WILSONDALE, the typical annual property tax bill is around $253, significantly below the national median of $2,690. Property taxes in WILSONDALE 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 WILSONDALE'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 WILSONDALE 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
Wilsondale, 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 Wilsondale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wilsondale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilsondale 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 Wilsondale, West Virginia
Property taxes in Wilsondale, West Virginia, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilsondale is 0.75%, which is below the U.S. national median of 0.99%. Local government entities within Wilsondale set these rates annually, and they can vary across different neighborhoods. Each year, Wilsondale 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 Wilsondale's effective property tax rate to other regions and the national median. For comparison, the zip code 25699 in Lincoln County has a median property tax rate of 0.75%, mirroring Wilsondale's rate. Understanding how these areas compare with Wilsondale provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wilsondale Tax Rate
0.75%
Average Lincoln County Tax Rate
0.75%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wilsondale, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25699 | 0.40% | 0.62% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Wilsondale, West Virginia
In Wilsondale, 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 Lincoln 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. 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 Wilsondale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Lincoln County is 25699, amounting to $253.
Average Wilsondale Assessed Value
$50,550
Average Lincoln County Assessed Value
$50,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wilsondale, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25699 | $24,640 | $41,200 | $50,550 | $61,525 | $81,010 |
Source: Ownwell
Property Tax Bills Across Wilsondale, West Virginia
In Wilsondale, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is a percentage of the market value of the home. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Wilsondale, the median home price is $50,550. Property tax bills can vary significantly, with the 25th percentile at $123 and the 75th percentile at $457, while the 90th percentile reaches up to $604. These variations are influenced by factors such as property location, size, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Wilsondale's rates can be relatively lower, offering some relief to homeowners. However, the tax bill still represents a significant expense that homeowners must budget for annually. Understanding how these factors interplay helps homeowners anticipate their financial obligations and plan accordingly.
Average Wilsondale Tax Bill
$253
Average Lincoln County Tax Bill
$343
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilsondale, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25699 | $110 | $123 | $253 | $457 | $604 |
Source: Ownwell