Wilkinson, West Virginia Property Taxes
The median property tax rate in Wilkinson, 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 the median home value in Wilkinson at $34,100, the typical annual property tax bill is $239, significantly below the national median of $2,690. Property taxes in Wilkinson are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Wilkinson'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 Wilkinson 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
Wilkinson, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$256
Ownwell’s Wilkinson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wilkinson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilkinson 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 Wilkinson, West Virginia
Property taxes in Wilkinson, 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 Wilkinson is 0.55%, significantly lower than both the West Virginia state median of 0.57% and the U.S. national median of 0.99%. Local government entities within Wilkinson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilkinson 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 Wilkinson's effective property tax rate to other counties in West Virginia and the national median. For comparison, the ZIP code 25653 has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with Wilkinson 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 Wilkinson 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 Wilkinson, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25653 | 0.26% | 0.49% | 0.75% | 0.75% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Wilkinson, West Virginia
In Wilkinson, 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 Wilkinson, 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 Wilkinson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 25653, with a median tax bill of $239.
Average Wilkinson Assessed Value
$34,100
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 Wilkinson, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25653 | $6,800 | $17,100 | $34,100 | $61,200 | $95,360 |
Source: Ownwell
Property Tax Bills Across Wilkinson, West Virginia
In Wilkinson, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, size, location, and any improvements made to the property. For homeowners in Wilkinson, the median home price is $34,100. Property tax bills can vary significantly, with the 25th percentile tax bill at $98 and the 75th percentile tax bill at $445. The 90th percentile tax bill reaches up to $639. Compared to the national median property tax rate of 0.99%, Wilkinson's property tax bills are relatively low, reflecting the lower property values in the area. These taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Wilkinson Tax Bill
$239
Average Logan County Tax Bill
$306
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilkinson, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25653 | $45 | $98 | $239 | $445 | $639 |
Source: Ownwell