Coal City, West Virginia Property Taxes
The median property tax rate in Coal City, WV is 0.72%, aligning with the state median but lower than the national median of 0.99%. With the median home value in Coal City at $37,600, the typical annual property tax bill is $218, significantly less than the national median of $2,690. Property taxes in Coal City are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Coal City'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 Coal City or elsewhere in Raleigh County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coal City, 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 Coal City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coal City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coal City 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 Coal City, West Virginia
Property taxes in Coal City, West Virginia, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Coal City is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Coal City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coal City 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 Coal City's effective property tax rate to other areas in Raleigh County and the national median. For comparison, the zip code 25823 has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these areas compare with Coal City provides valuable insights into the varying tax landscape across Raleigh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coal City Tax Rate
0.72%
Average Raleigh County Tax Rate
0.72%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coal City, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25823 | 0.24% | 0.46% | 0.72% | 0.72% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Coal City, West Virginia
In Coal City, 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 Raleigh 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 Coal City, 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 Coal City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $218 in zip code 25823.
Average Coal City Assessed Value
$37,600
Average Raleigh County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coal City, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25823 | $6,640 | $15,350 | $37,600 | $59,000 | $85,060 |
Source: Ownwell
Property Tax Bills Across Coal City, West Virginia
In Coal City, property tax bills are calculated based on the assessed value of the property and the local tax rate set by Raleigh County. The assessed value is determined by the county assessor's office, which evaluates the property's market value. For example, the median home price in Coal City is $37,600. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in Coal City can expect varying tax bills depending on their property's assessed value. The tax bill at the 25th percentile is around $94, while at the 75th percentile, it rises to approximately $392. For those at the 90th percentile, the tax bill can be as high as $592. Compared to the national median property tax rate of 0.99%, Coal City's tax rates may seem lower, but they can still significantly impact household budgets. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Coal City Tax Bill
$218
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Coal City, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25823 | $46 | $94 | $218 | $392 | $592 |
Source: Ownwell