Pentress, West Virginia Property Taxes
The median property tax rate in Pentress, WV is 0.64%, which is significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Pentress at $80,100, the typical annual property tax bill amounts to $671, well below the national median of $2,690. Property taxes in Pentress 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 Pentress'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 Pentress or another part of Monongalia County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pentress, 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 Pentress Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pentress with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pentress 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 Pentress, West Virginia
Property taxes in Pentress, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pentress is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Pentress set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pentress 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 Pentress's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26544 zip code has the highest median property tax rate of 0.64%, while the same zip code has the lowest median tax rate of 0.64%. Understanding how these cities compare with Pentress provides valuable insights into the varying tax landscape across Monongalia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pentress Tax Rate
0.64%
Average Monongalia County Tax Rate
0.64%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pentress, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26544 | 0.48% | 0.64% | 0.64% | 0.80% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Pentress, West Virginia
In Pentress, 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 Monongalia 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 Pentress, 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 Pentress helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Pentress is $80,100, with the highest median tax bill being $671 in the 26544 zip code.
Average Pentress Assessed Value
$80,100
Average Monongalia County Assessed Value
$146,600
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pentress, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26544 | $12,020 | $49,900 | $80,100 | $126,775 | $136,040 |
Source: Ownwell
Property Tax Bills Across Pentress, West Virginia
In Pentress, Monongalia County, WV, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The local tax rate is then applied to this assessed value to determine the tax bill. For example, with a median home price of $80,100, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $252, while at the 75th percentile, the tax bill could rise to $821. Those in the 90th percentile might see bills as high as $1,051. Several factors influence the tax bill, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Pentress homeowners generally experience a lower tax burden. However, these taxes still impact homeowners by contributing to local services like schools, infrastructure, and emergency services. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Pentress Tax Bill
$671
Average Monongalia County Tax Bill
$1,138
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Pentress, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26544 | $99 | $252 | $671 | $821 | $1,051 |
Source: Ownwell