Procious, West Virginia Property Taxes
The median property tax rate in Procious, WV is 0.53%, 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 $21,300 in Procious, the typical annual property tax bill amounts to $100, far below the national median of $2,690. Property taxes in Procious are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Procious'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 Procious or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Procious, 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 Procious Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Procious with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Procious 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 Procious, West Virginia
Property taxes in Procious, 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 Procious stands at 0.53%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Procious set these rates annually, and they can vary significantly across different neighborhoods. Each year, Procious 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 Procious's effective property tax rate to other areas in Roane County and the national median. For comparison, the zip code 25164 has the highest median property tax rate of 0.53%, while also having the lowest median tax rate of 0.53%. Understanding how these areas compare with Procious provides valuable insights into the varying tax landscape across Roane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Procious Tax Rate
0.53%
Average Roane County Tax Rate
0.53%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Procious, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25164 | 0.44% | 0.53% | 0.53% | 0.53% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Procious, West Virginia
In Procious, 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 Roane 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 Procious, 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. For instance, the median home price in Procious is $21,300, with tax bills ranging from $64 at the 25th percentile to $307 at the 90th percentile. 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 Procious helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Procious Assessed Value
$21,300
Average Roane County Assessed Value
$76,300
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Procious, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25164 | $6,180 | $13,300 | $21,300 | $74,100 | $120,220 |
Source: Ownwell
Property Tax Bills Across Procious, West Virginia
In Procious, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local government in Roane County determines the tax rate, which is then applied to the assessed value to calculate the annual tax bill. Several factors influence the assessed value, including property size, location, and market trends. For homeowners in Procious, this means that the amount they owe in property taxes can vary significantly. For example, the tax bill at the 25th percentile is $64, while at the 75th percentile, it rises to $166, and at the 90th percentile, it reaches $307. These variations highlight how different property characteristics can impact the overall tax burden. Compared to the national median property tax rate of 0.99%, homeowners in Procious may find their property tax rates to be relatively manageable, but it still represents a significant annual expense that must be factored into homeownership costs.
Average Procious Tax Bill
$100
Average Roane County Tax Bill
$415
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Procious, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25164 | $56 | $64 | $100 | $166 | $307 |
Source: Ownwell