Glen Fork, West Virginia Property Taxes
The median property tax rate in Glen Fork, WV is 0.68%, which is lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $23,700 in Glen Fork, the typical annual property tax bill is $160, significantly below the national median of $2,690. Property taxes in Glen Fork 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 Glen Fork'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 Glen Fork or another part of Wyoming County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Glen Fork, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$161
Ownwell’s Glen Fork Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glen Fork with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glen Fork 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 Glen Fork, West Virginia
Property taxes in Glen Fork, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glen Fork is 0.68%, lower than the U.S. national median of 0.99%. Local government entities within Glen Fork set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glen Fork 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 Glen Fork's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25845 zip code has the highest median property tax rate of 0.68%, while the 25845 zip code also has the lowest median tax rate of 0.68%. Understanding how these cities compare with Glen Fork provides valuable insights into the varying tax landscape across Wyoming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glen Fork Tax Rate
0.68%
Average Wyoming County Tax Rate
0.68%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glen Fork, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25845 | 0.20% | 0.68% | 0.68% | 1.37% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Glen Fork, West Virginia
In Glen Fork, 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 Wyoming 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 Glen Fork, 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. The median home price in Glen Fork is $23,700, with tax bills ranging significantly. The 25th percentile tax bill is $83, while the 75th percentile reaches $261, and the 90th percentile is $382. The highest and lowest median tax bills are both $160 in the 25845 zip code. Being aware of these valuation processes in Glen Fork helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Glen Fork Assessed Value
$23,700
Average Wyoming County Assessed Value
$25,000
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glen Fork, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25845 | $7,530 | $14,000 | $23,700 | $36,750 | $52,700 |
Source: Ownwell
Property Tax Bills Across Glen Fork, West Virginia
In Glen Fork, Wyoming County, WV, property tax bills are calculated based on the assessed value of a home. The assessed value is derived from the market value, which is then multiplied by the local tax rate. For instance, with a median home price of $23,700, homeowners can expect varying tax bills depending on specific property characteristics and exemptions. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For Glen Fork, the tax bills vary significantly, with the 25th percentile at $83 and the 75th percentile reaching $261. The highest median tax bill in this area is $160, which is considerably lower than the national median property tax rate of 0.99%. These property taxes are essential for funding local services such as schools, public safety, and infrastructure. For homeowners, understanding these factors is crucial as it directly impacts their annual financial planning and investment in their property.
Average Glen Fork Tax Bill
$160
Average Wyoming County Tax Bill
$190
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Glen Fork, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25845 | $37 | $83 | $160 | $261 | $382 |
Source: Ownwell