Montrose, West Virginia Property Taxes
The median property tax rate in Montrose, WV is 0.39%, 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 $16,350, the typical annual property tax bill in Montrose is just $73, far below the national median of $2,690. Property taxes in Montrose are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Montrose'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 Montrose or another part of the city, being well-versed in the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montrose, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$64
Ownwell’s Montrose Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montrose with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montrose 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 Montrose, West Virginia
Property taxes in Montrose, 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 Montrose is 0.54%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Montrose set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montrose 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 Montrose's effective property tax rate to other counties in West Virginia and the national median. For comparison, the highest median property tax rate in the state is 0.63%, while the lowest median tax rate is 0.54%. Understanding how these cities compare with Montrose 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 Montrose Tax Rate
0.39%
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 Montrose, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26283 | 0.39% | 0.39% | 0.39% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Montrose, West Virginia
In Montrose, 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 local appraisal authorities 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 Montrose, 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 Montrose helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Barbour County, where Montrose is located, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $39, while the 75th percentile tax bill is $179. The 90th percentile tax bill reaches up to $489. Understanding these figures can help homeowners in Montrose anticipate their potential tax liabilities and plan accordingly.
Average Montrose Assessed Value
$16,350
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 Montrose, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26283 | $4,210 | $7,400 | $16,350 | $49,525 | $120,960 |
Source: Ownwell
Property Tax Bills Across Montrose, West Virginia
In Montrose, Barbour County, WV, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value is a percentage of the property's market value. Once the assessed value is established, the local tax rate, known as the millage rate, is applied. This rate is set by various taxing authorities, including the county, school districts, and other local entities. Homeowners in Montrose can expect their tax bills to vary significantly. The 25th percentile tax bill is around $39, while the 75th percentile tax bill reaches $179. For those at the higher end, the 90th percentile tax bill can be as high as $489. These figures illustrate the range of tax burdens homeowners might face, depending largely on their property's assessed value and the specific millage rates applicable to their location. Compared to the national median property tax rate of 0.99%, Montrose offers relatively affordable property taxes, making it an attractive option for homeowners seeking lower tax obligations.
Average Montrose Tax Bill
$73
Average Barbour County Tax Bill
$319
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Montrose, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26283 | $23 | $39 | $73 | $179 | $489 |
Source: Ownwell