Glen Jean, West Virginia Property Taxes
The median property tax rate in Glen Jean, WV, is 0.77%, which is lower than the national median of 0.99% but slightly higher than the West Virginia state median of 0.72%. With a median home value of $29,400 in Glen Jean, the typical annual property tax bill is $274, significantly below the national median of $2,690. Property taxes in Glen Jean are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Glen Jean'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 Glen Jean or another part of Fayette County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Glen Jean, 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 Glen Jean Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glen Jean with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glen Jean 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 Glen Jean, West Virginia
Property taxes in Glen Jean, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glen Jean is 0.77%, lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Glen Jean set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glen Jean 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 Glen Jean's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25846 zip code has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Glen Jean provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glen Jean Tax Rate
0.77%
Average Fayette County Tax Rate
0.77%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glen Jean, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25846 | 0.55% | 0.77% | 0.77% | 0.77% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Glen Jean, West Virginia
In Glen Jean, 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 Fayette 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 Glen Jean 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 area are both found in the 25846 zip code, with a value of $274.
Average Glen Jean Assessed Value
$29,400
Average Fayette County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glen Jean, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25846 | $3,420 | $4,700 | $29,400 | $49,000 | $113,800 |
Source: Ownwell
Property Tax Bills Across Glen Jean, West Virginia
In Glen Jean, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For a median home price of $29,400, the tax bill can vary significantly. The tax bill at the 25th percentile is around $221, while at the 75th percentile, it rises to $603, and at the 90th percentile, it can reach $955. These variations are influenced by the specific assessed value and applicable tax rates set by local authorities. Several factors are considered when determining the tax bill, including the property's market value, any applicable exemptions, and the local tax rate. Homeowners in Glen Jean may find their tax bills to be relatively moderate compared to the national median property tax rate of 0.99%. However, the impact on homeowners can still be significant, affecting monthly budgets and long-term financial planning. Understanding these factors is crucial for homeowners looking to manage their property tax obligations effectively.
Average Glen Jean Tax Bill
$274
Average Fayette County Tax Bill
$424
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Glen Jean, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25846 | $168 | $221 | $274 | $603 | $955 |
Source: Ownwell