Coalton, West Virginia Property Taxes
The median property tax rate in Coalton, WV is 0.40%, 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 $79,400 in Coalton, the typical annual property tax bill amounts to $357, which is well below the national median of $2,690. Property taxes in Coalton 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 Coalton'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 Coalton or another part of Randolph County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coalton, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$318
Ownwell’s COALTON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in COALTON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in COALTON 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 Coalton, West Virginia
Property taxes in Coalton, 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 Coalton is 0.40%, which is significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Coalton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coalton 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 Coalton's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26257 has the highest median property tax rate of 0.40%, while the same zip code also has the lowest median tax rate of 0.40%. Understanding how these figures compare with Coalton provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coalton Tax Rate
0.40%
Average Randolph County Tax Rate
0.40%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coalton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26257 | 0.24% | 0.39% | 0.40% | 0.41% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Coalton, West Virginia
In Coalton, 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 Randolph 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 Coalton, 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 Coalton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 26257 has the highest and lowest median tax bill, both at $357, highlighting the uniformity in property tax distribution in the area.
Average Coalton Assessed Value
$79,400
Average Randolph County Assessed Value
$82,600
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coalton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26257 | $14,620 | $40,300 | $79,400 | $126,250 | $173,940 |
Source: Ownwell
Property Tax Bills Across Coalton, West Virginia
In Coalton, WV, property tax bills are calculated based on the assessed value of a property, which is determined by the Randolph County Assessor's Office. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate to determine the tax bill. For homeowners in Coalton, the median home price is $79,400. The property tax rate in Randolph County is 0.45%, significantly lower than the national median property tax rate of 0.99%. This means that a homeowner with a property valued at the median price can expect to pay an annual tax bill around $357. However, tax bills can vary widely; for instance, the 25th percentile tax bill is $192, while the 75th percentile reaches up to $548. At the higher end, the 90th percentile tax bill can be as much as $757. These variations are influenced by factors such as property improvements, changes in market conditions, and specific local tax policies, significantly impacting homeowners' annual financial obligations.
Average Coalton Tax Bill
$357
Average Randolph County Tax Bill
$381
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Coalton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26257 | $80 | $192 | $357 | $548 | $757 |
Source: Ownwell