Chauncey, West Virginia Property Taxes
The median property tax rate in Chauncey, 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 the median home value in Chauncey at $31,850, the typical annual property tax bill amounts to $244, significantly less than the national median of $2,690. Property taxes in Chauncey are calculated based on the tax assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Chauncey'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 Chauncey or another part of Logan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chauncey, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$239
Ownwell’s Chauncey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chauncey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chauncey 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 Chauncey, West Virginia
Property taxes in Chauncey, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chauncey is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Chauncey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chauncey 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 Chauncey's effective property tax rate to other areas in West Virginia and the national median. For comparison, the 25612 zip code has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Chauncey 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 Chauncey 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 Chauncey, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25612 | 0.23% | 0.75% | 0.75% | 0.75% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Chauncey, West Virginia
In Chauncey, 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 Logan County 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 Chauncey, 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 Chauncey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $244.00, found in the 25612 zip code.
Average Chauncey Assessed Value
$31,850
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 Chauncey, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25612 | $11,000 | $22,625 | $31,850 | $49,775 | $76,800 |
Source: Ownwell
Property Tax Bills Across Chauncey, West Virginia
Property tax bills in Chauncey, Logan County, WV, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and represents a percentage of the property's market value. Homeowners in Chauncey typically see tax bills that vary significantly, reflecting the diverse range of property values in the area. For instance, the median home price in Chauncey is $31,850. Homeowners in the 25th percentile pay around $146 annually, while those in the 75th percentile face tax bills of approximately $421. At the higher end, the 90th percentile tax bill reaches $560. These figures show how property taxes can impact homeowners differently based on their property’s assessed value. Compared to the national median property tax rate of 0.99%, Logan County’s rates result in relatively modest tax bills, offering some financial relief to homeowners. Understanding these calculations helps homeowners anticipate their tax obligations and manage their budgets more effectively.
Average Chauncey Tax Bill
$244
Average Logan County Tax Bill
$306
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Chauncey, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25612 | $65 | $146 | $244 | $421 | $560 |
Source: Ownwell