Green Bank, West Virginia Property Taxes
The median property tax rate in Green Bank, WV is 0.39%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $69,800 in Green Bank, the typical annual property tax bill amounts to $250, well below the national median of $2,690. Property taxes in Green Bank are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Green Bank's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Green Bank or another part of Pocahontas County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Green Bank, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$272
Ownwell’s Green Bank Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Green Bank with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Green Bank 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 Green Bank, West Virginia
Property taxes in Green Bank, 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 Green Bank is 0.39%, significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Green Bank set these rates annually, and they can vary significantly across different neighborhoods. Each year, Green Bank 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 Green Bank's effective property tax rate to other counties in West Virginia and the national median. Understanding how these cities compare with Green Bank provides valuable insights into the varying tax landscape across Pocahontas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Green Bank Tax Rate
0.39%
Average Pocahontas County Tax Rate
0.39%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Green Bank, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24944 | 0.26% | 0.39% | 0.39% | 0.39% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Green Bank, West Virginia
In Green Bank, 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 Pocahontas 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 Green Bank, 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. For example, the median home price in Green Bank is $69,800, with tax bills ranging from $127 at the 25th percentile to $678 at the 90th percentile. Being aware of these valuation processes in Green Bank helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Green Bank, West Virginia
Source: Ownwell
$15,800
$78,550
$141,300
Average Green Bank Assessed Value
$69,800
Average Pocahontas County Assessed Value
$74,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Green Bank, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24944 | $13,740 | $30,550 | $69,800 | $117,600 | $165,540 |
Source: Ownwell
Property Tax Bills Across Green Bank, West Virginia
In Green Bank, located in Pocahontas County, WV, property tax bills are calculated based on the assessed value of a home. The assessment process considers various factors, including the property's market value and any improvements made. Once the assessed value is determined, the local tax rate is applied to calculate the annual tax bill. For homeowners in Green Bank, the median home price stands at $69,800, significantly lower than the national median. Consequently, property tax bills here are relatively modest. The tax bill for the 25th percentile is around $127, while those in the 75th percentile can expect to pay approximately $428. At the 90th percentile, the tax bill reaches $678. These tax bills impact homeowners by influencing their overall housing costs. Compared to the national median property tax rate of 0.99%, Green Bank offers a more affordable property tax environment, making it an attractive option for those looking to minimize their annual expenses.
Average Green Bank Tax Bill
$250
Average Pocahontas County Tax Bill
$346
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Green Bank, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24944 | $60 | $127 | $250 | $428 | $678 |
Source: Ownwell