Chloe, West Virginia Property Taxes
The median property tax rate in Chloe, WV is 0.46%, considerably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Chloe at $73,900, the typical annual property tax bill is $409, significantly below the national median of $2,690. Property taxes in Chloe are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Chloe'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 Chloe 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
Chloe, 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 Chloe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chloe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chloe 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 Chloe, West Virginia
Property taxes in Chloe, West Virginia, are essential for funding critical local services like public schools, road maintenance, and emergency services. The median tax rate in Chloe is 0.46%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Chloe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chloe 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 Chloe's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25235 zip code has both the highest and lowest median property tax rate of 0.46%. Understanding how these cities compare with Chloe provides valuable insights into the varying tax landscape across Braxton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chloe Tax Rate
0.46%
Average Braxton County Tax Rate
0.46%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chloe, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25235 | 0.25% | 0.35% | 0.46% | 0.46% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Chloe, West Virginia
In Chloe, 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 Braxton 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 Chloe, 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 tax bill in Chloe is $409, with the highest and lowest median tax bills both recorded in the 25235 zip code. 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 Chloe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chloe Assessed Value
$73,900
Average Braxton County Assessed Value
$63,900
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chloe, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25235 | $47,100 | $56,250 | $73,900 | $111,900 | $194,200 |
Source: Ownwell
Property Tax Bills Across Chloe, West Virginia
In Chloe, located in Braxton County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and any improvements made can influence the assessed value. For homeowners in Chloe, the median home price is $73,900. The property tax bills in this area vary significantly, with the 25th percentile at $195 and the 75th percentile reaching $829. The 90th percentile tax bill can go up to $1,020. Compared to the national median property tax rate of 0.99%, homeowners in Chloe generally experience lower tax bills. This variation in tax amounts can significantly impact homeowners' annual budgets, making it essential for them to understand how their tax bills are calculated and what factors may influence any changes in their property taxes.
Average Chloe Tax Bill
$409
Average Braxton County Tax Bill
$333
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Chloe, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25235 | $106 | $195 | $409 | $829 | $1,020 |
Source: Ownwell