Glenwood, West Virginia Property Taxes
The median property tax rate in Glenwood, WV is 0.82%, which is 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 Glenwood at $68,400, the typical annual property tax bill amounts to $501, significantly below the national median of $2,690. Property taxes in Glenwood are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Glenwood'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 Glenwood 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
Glenwood, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$561
Ownwell’s Glenwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glenwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glenwood 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 Glenwood, West Virginia
Property taxes in Glenwood, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glenwood is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Glenwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glenwood 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 Glenwood's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25520 zip code has the highest median property tax rate of 0.82%, while also having the lowest median tax rate of 0.82%. Understanding how these cities compare with Glenwood provides valuable insights into the varying tax landscape across Cabell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glenwood Tax Rate
0.82%
Average Cabell County Tax Rate
0.82%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glenwood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25520 | 0.36% | 0.57% | 0.82% | 0.82% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Glenwood, West Virginia
In Glenwood, West Virginia, understanding the difference between "market value" and "assessed value" is essential 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 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. Assessment notices in Glenwood 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 Glenwood is $68,400, with the 25th percentile tax bill at $319 and the 75th percentile at $807. The highest median tax bill in the area is $501 in the 25520 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Glenwood Assessed Value
$68,400
Average Cabell County Assessed Value
$80,550
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glenwood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25520 | $25,880 | $44,700 | $68,400 | $99,850 | $133,140 |
Source: Ownwell
Property Tax Bills Across Glenwood, West Virginia
In Glenwood, Cabell County, WV, property tax bills are calculated by assessing the property's value and applying the local tax rate. The assessed value is typically a percentage of the market value, which is determined by the county assessor. Several factors influence this value, including the property's location, size, and condition. The tax rate, applied to the assessed value, determines the annual tax bill. In Glenwood, the median home price is $68,400. Homeowners in the 25th percentile pay around $319 annually, while those in the 75th percentile pay approximately $807. At the 90th percentile, the tax bill can reach up to $1,065. These property tax bills impact homeowners by influencing their monthly mortgage payments and overall housing costs. Compared to the national median property tax rate of 0.99%, Glenwood's rates can be relatively affordable, providing some financial relief to homeowners in the area. However, it's essential for property owners to stay informed about their assessed values and any changes in local tax rates.
Average Glenwood Tax Bill
$501
Average Cabell County Tax Bill
$825
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Glenwood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25520 | $185 | $319 | $501 | $807 | $1,065 |
Source: Ownwell