Chapmanville, West Virginia Property Taxes
The median property tax rate in Chapmanville, WV is 0.75%, slightly higher than the state median of 0.72% but below the national median of 0.99%. With a median home value of $58,200, the typical annual property tax bill in Chapmanville amounts to $412, significantly lower than the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. By understanding Chapmanville's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're residing in the heart of Chapmanville or elsewhere in Logan County, a thorough grasp of the local property tax intricacies will be beneficial.
Last Updated June 14, 2024
Chapmanville, 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 Chapmanville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chapmanville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chapmanville 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 Chapmanville, West Virginia
Property taxes in Chapmanville, West Virginia, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Chapmanville is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Chapmanville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chapmanville 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 Chapmanville's effective property tax rate to other regions and the national median. For comparison, the zip code 25508 has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Chapmanville provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chapmanville Tax Rate
0.75%
Average Logan County Tax Rate
0.75%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chapmanville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25508 | 0.30% | 0.52% | 0.75% | 0.75% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Chapmanville, West Virginia
In Chapmanville, 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 Chapmanville, 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. The median home price in Chapmanville is $58,200, with median tax bills ranging from $199 at the 25th percentile to $1,210 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Chapmanville, West Virginia
Source: Ownwell
$19,000
$72,100
$125,200
Average Chapmanville Assessed Value
$58,200
Average Logan County Assessed Value
$40,900
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chapmanville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25508 | $11,560 | $30,650 | $58,200 | $100,300 | $155,260 |
Source: Ownwell
Property Tax Bills Across Chapmanville, West Virginia
In Chapmanville, located in Logan County, WV, property tax bills are calculated based on the assessed value of a home. The median home price in Chapmanville is $58,200. Property taxes are determined by multiplying the assessed value by the local tax rate. Several factors influence the assessed value, including the property's market value, condition, and any improvements made. Homeowners in Chapmanville can expect varying tax bills. For instance, the 25th percentile tax bill is around $199, while the 75th percentile tax bill reaches approximately $757. At the higher end, the 90th percentile tax bill can be as much as $1,210. These figures show a range of what homeowners might pay, influenced by the specific characteristics and assessed values of their properties. Compared to the national median property tax rate of 0.99%, Chapmanville offers relatively affordable property taxes, which can be a significant factor for potential homeowners considering the overall cost of living in this area. Understanding how these taxes are calculated helps homeowners budget effectively and plan for future expenses.
Average Chapmanville Tax Bill
$412
Average Logan County Tax Bill
$306
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Chapmanville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25508 | $94 | $199 | $412 | $757 | $1,210 |
Source: Ownwell