Cyclone, West Virginia Property Taxes
The median property tax rate in Cyclone, WV is 0.75%, slightly higher than the West Virginia state median of 0.72% but lower than the national median of 0.99%. With a median home value of $44,400 in Cyclone, the typical annual property tax bill amounts to $335, which is significantly below the national median of $2,690. Property taxes in Cyclone are based on the tax assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Cyclone'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 Cyclone 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
Cyclone, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$333
Ownwell’s Cyclone Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cyclone with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cyclone 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 Cyclone, West Virginia
Property taxes in Cyclone, West Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cyclone is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Cyclone set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cyclone 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 Cyclone's effective property tax rate to other areas in Logan County and the national median. For comparison, the zip code 24827 has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Cyclone 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 Cyclone 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 Cyclone, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24827 | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Cyclone, West Virginia
In Cyclone, 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 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. In Cyclone, 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 Cyclone helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Cyclone are both $335, found in the 24827 zip code.
Average Cyclone Assessed Value
$44,400
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 Cyclone, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24827 | $44,400 | $44,400 | $44,400 | $44,400 | $44,400 |
Source: Ownwell
Property Tax Bills Across Cyclone, West Virginia
In Cyclone, Logan County, WV, 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, reflecting its worth in the current real estate market. Once the assessed value is established, local tax rates are applied to calculate the annual tax bill. For homeowners in Cyclone, the property tax rate is relatively favorable compared to the national median of 0.99%. With a median home price of $44,400, the typical property tax bill is around $335, placing it at the 25th, 75th, and 90th percentiles. This consistency indicates a stable tax environment for residents. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding how these factors contribute to their tax bill can help in financial planning and ensuring they receive the benefits of the services funded by their taxes.
Average Cyclone Tax Bill
$335
Average Logan County Tax Bill
$306
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Cyclone, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24827 | $335 | $335 | $335 | $335 | $335 |
Source: Ownwell