Lizemores, West Virginia Property Taxes
The median property tax rate in Lizemores, WV is 0.42%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Lizemores at $39,300, the typical annual property tax bill is $149, far below the national median of $2,690. Property taxes in Lizemores 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 Lizemores' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lizemores or another part of Clay County, a thorough grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lizemores, 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 Lizemores Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lizemores with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lizemores 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 Lizemores, West Virginia
Property taxes in Lizemores, 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 Lizemores is 0.42%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Lizemores set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lizemores 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 Lizemores' effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25125 zip code has the highest median property tax rate of 0.42%, while the same zip code also has the lowest median tax rate of 0.42%. Understanding how these cities compare with Lizemores provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lizemores Tax Rate
0.42%
Average Clay County Tax Rate
0.42%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lizemores, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25125 | 0.11% | 0.24% | 0.42% | 0.42% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Lizemores, West Virginia
In Lizemores, 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 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 Lizemores, 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 Lizemores helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $149.00 in zip code 25125, which also has the lowest median tax bill at $149.00.
Average Lizemores Assessed Value
$39,300
Average Clay County Assessed Value
$39,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lizemores, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25125 | $10,270 | $20,225 | $39,300 | $65,975 | $90,300 |
Source: Ownwell
Property Tax Bills Across Lizemores, West Virginia
In Lizemores, located in Clay County, WV, property tax bills are calculated based on the assessed value of a property, which is derived from its market value. Homeowners in Lizemores experience property tax rates that are significantly lower than the national median property tax rate of 0.99%. For instance, the median home price in Lizemores is $39,300. Tax bills in this area can vary widely, with the 25th percentile tax bill being $71 and the 75th percentile tax bill reaching $289. At the 90th percentile, homeowners might see a tax bill of up to $429. The assessed value of a property, combined with the local tax rate, determines the final tax bill. Factors such as property size, location, and improvements can influence the assessed value. These property taxes are crucial for funding local services, including schools, infrastructure, and emergency services. Lower property taxes in Lizemores can make homeownership more affordable, but they also mean that local services may have fewer resources compared to areas with higher tax rates.
Average Lizemores Tax Bill
$149
Average Clay County Tax Bill
$172
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Lizemores, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25125 | $38 | $71 | $149 | $289 | $429 |
Source: Ownwell