Ellamore, West Virginia Property Taxes
The median property tax rate in Ellamore, WV is 0.40%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Ellamore, the typical annual property tax bill amounts to $670, well below the national median of $2,690. Property taxes in Ellamore are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Ellamore'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 Ellamore or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ellamore, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$492
Ownwell’s Ellamore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ellamore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ellamore 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 Ellamore, West Virginia
Property taxes in Ellamore, 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 Ellamore is 0.40%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Ellamore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ellamore 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 Ellamore's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26267 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 cities compare with Ellamore provides valuable insights into the varying tax landscape across Barbour County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ellamore Tax Rate
0.40%
Average Barbour County Tax Rate
0.39%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ellamore, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26267 | 0.39% | 0.39% | 0.40% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Ellamore, West Virginia
In Ellamore, 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 Barbour 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 Ellamore, 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 Ellamore is $122,950, with tax bills ranging from $495 at the 25th percentile to $1,004 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ellamore Assessed Value
$122,950
Average Barbour County Assessed Value
$69,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ellamore, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26267 | $35,100 | $63,025 | $122,950 | $171,075 | $208,290 |
Source: Ownwell
Property Tax Bills Across Ellamore, West Virginia
In Ellamore, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in the area is $122,950. Local tax authorities in Barbour County determine the assessed value, which is then multiplied by the local tax rate to calculate the annual tax bill. Various factors, including property size, location, and improvements, influence the assessed value. For homeowners in Ellamore, tax bills can vary significantly. The 25th percentile tax bill is around $495, while the 75th percentile reaches $878. At the 90th percentile, homeowners may see bills as high as $1,004. The highest median tax bill in the county is $670, which is relatively modest compared to the national median property tax rate of 0.99%. These tax bills impact homeowners by influencing their overall housing costs, potentially affecting affordability and long-term financial planning.
Average Ellamore Tax Bill
$670
Average Barbour County Tax Bill
$319
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Ellamore, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26267 | $261 | $495 | $670 | $878 | $1,004 |
Source: Ownwell