Valley Grove, West Virginia Property Taxes
The median property tax rate in Valley Grove, WV is 0.80%, slightly lower than the national median of 0.99% but higher than the West Virginia state median of 0.72%. With the median home value in Valley Grove at $109,200, the typical annual property tax bill reaches $870, falling well below the national median of $2,690. Property taxes in Valley Grove are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Valley Grove'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 Valley Grove 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
Valley Grove, 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 Valley Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Valley Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valley Grove 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 Valley Grove, West Virginia
Property taxes in Valley Grove, West Virginia (Brooke County), are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Valley Grove is 0.80%, lower than the U.S. national median of 0.99%. Local government entities within Valley Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valley Grove 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 Valley Grove's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26060 has both the highest and lowest median property tax rate of 0.80%. Understanding how these cities compare with Valley Grove provides valuable insights into the varying tax landscape across Brooke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Valley Grove Tax Rate
0.80%
Average Brooke County Tax Rate
0.80%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valley Grove, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26060 | 0.80% | 0.80% | 0.80% | 0.80% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Valley Grove, West Virginia
In Valley Grove, 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 Brooke 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. 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 Valley Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Valley Grove is $109,200, with the median tax bill consistently at $870 across various percentiles and zip codes, including 26060.
Property Tax Assessment Values Across Valley Grove, West Virginia
Source: Ownwell
$21,400
$65,300
$109,200
Average Valley Grove Assessed Value
$109,200
Average Brooke County Assessed Value
$65,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Valley Grove, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26060 | $109,200 | $109,200 | $109,200 | $109,200 | $109,200 |
Source: Ownwell
Property Tax Bills Across Valley Grove, West Virginia
In Valley Grove, located in Brooke County, WV, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local tax assessors and typically represents a percentage of the property's market value. Homeowners in Valley Grove can expect a median tax bill of $870, which is consistent across various percentiles, including the 25th, 75th, and 90th. This uniformity suggests a stable tax environment within the city. Factors influencing the tax bill include the property's assessed value and the local tax rate. The median home price in Valley Grove is $109,200, and the property tax rate is relatively modest compared to the national median property tax rate of 0.99%. This means homeowners in Valley Grove may find their property taxes more manageable compared to other regions in the country. For homeowners, understanding how these factors interplay is crucial for financial planning and assessing the overall cost of homeownership in Valley Grove.
Average Valley Grove Tax Bill
$870
Average Brooke County Tax Bill
$517
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Valley Grove, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26060 | $870 | $870 | $870 | $870 | $870 |
Source: Ownwell