Fort Ashby, West Virginia Property Taxes
The median property tax rate in Fort Ashby, WV is 0.72%, aligning with the West Virginia state median but still lower than the national median of 0.99%. With a median home value of $119,900 in Fort Ashby, the typical annual property tax bill amounts to $828, which is notably less than the national median of $2,690. Property taxes in Fort Ashby 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 Fort Ashby'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 Fort Ashby or another part of Mineral County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fort Ashby, 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 Fort Ashby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Ashby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Ashby 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 Fort Ashby, West Virginia
Property taxes in Fort Ashby, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Ashby is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Fort Ashby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Ashby 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 Fort Ashby's effective property tax rate to other areas in Mineral County and the national median. For comparison, the area with the highest median property tax rate in Mineral County is 26719, with a rate of 0.72%, while the area with the lowest median tax rate is also 26719, with a rate of 0.72%. Understanding how these areas compare with Fort Ashby provides valuable insights into the varying tax landscape across Mineral County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Ashby Tax Rate
0.72%
Average Mineral County Tax Rate
0.72%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Ashby, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26719 | 0.51% | 0.62% | 0.72% | 0.72% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Fort Ashby, West Virginia
In Fort Ashby, 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 Mineral County Assessor 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 Fort Ashby, 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 Fort Ashby 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 $828, observed in the 26719 zip code.
Property Tax Assessment Values Across Fort Ashby, West Virginia
Source: Ownwell
$28,200
$78,150
$128,100
Average Fort Ashby Assessed Value
$119,900
Average Mineral County Assessed Value
$84,700
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Ashby, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26719 | $28,520 | $74,400 | $119,900 | $168,600 | $225,840 |
Source: Ownwell
Property Tax Bills Across Fort Ashby, West Virginia
In Fort Ashby, located in Mineral County, WV, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors and is a percentage of the property's market value. For homeowners in Fort Ashby, the median home price is $119,900. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. In Mineral County, the tax bill at the 25th percentile is $526, while at the 75th percentile, it rises to $1211, and at the 90th percentile, it can reach $1639. The highest and lowest median tax bills in the area are both $828, recorded in the zip code 26719. Compared to the national median property tax rate of 0.99%, Fort Ashby homeowners may find their tax bills influenced by local assessments and rates, impacting their overall housing costs.
Average Fort Ashby Tax Bill
$828
Average Mineral County Tax Bill
$634
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Ashby, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26719 | $229 | $526 | $828 | $1,211 | $1,639 |
Source: Ownwell