Mount Clare, West Virginia Property Taxes
The median property tax rate in Mount Clare, WV is 0.36%, 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 $77,100 in Mount Clare, the typical annual property tax bill amounts to $236, which is well below the national median of $2,690. Property taxes in Mount Clare 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 Mount Clare'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 Mount Clare or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Clare, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$278
Ownwell’s Mount Clare Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Clare with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Clare 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 Mount Clare, West Virginia
Property taxes in Mount Clare, 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 Mount Clare is 0.32%, significantly lower than both the West Virginia state median of 0.57% and the U.S. national median of 0.99%. Local government entities within Mount Clare set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Clare 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 Mount Clare'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 found in 25504 with a rate of 0.83%, while the lowest median tax rate is in 24901 with a rate of 0.29%. Understanding how these cities compare with Mount Clare 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 Mount Clare Tax Rate
0.36%
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 Mount Clare, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26408 | 0.27% | 0.30% | 0.36% | 0.49% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Mount Clare, West Virginia
In Mount Clare, 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 county appraisal district 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 Mount Clare, 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 Mount Clare helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the region are both $236, found in the zip code 26408.
Property Tax Assessment Values Across Mount Clare, West Virginia
Source: Ownwell
$16,350
$69,650
$122,950
Average Mount Clare Assessed Value
$77,100
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 Mount Clare, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26408 | $27,320 | $52,250 | $77,100 | $112,775 | $157,190 |
Source: Ownwell
Property Tax Bills Across Mount Clare, West Virginia
In Mount Clare, located in Barbour County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in this area is $77,100. Property taxes are then applied to this assessed value using the local tax rate. For homeowners in Mount Clare, the tax bills can vary significantly, with the 25th percentile tax bill being $181 and the 75th percentile reaching $343. At the 90th percentile, the tax bill can go up to $496. These property tax bills are influenced by various factors, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Mount Clare offers relatively lower tax bills, which can be beneficial for homeowners. Understanding how these elements come together to determine the final tax bill is crucial for homeowners as it directly impacts their annual financial planning and homeownership costs.
Average Mount Clare Tax Bill
$236
Average Barbour County Tax Bill
$319
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Clare, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26408 | $123 | $181 | $236 | $343 | $496 |
Source: Ownwell