Powellton, West Virginia Property Taxes
The median property tax rate in Powellton, WV is 0.77%, slightly higher than the state median of 0.72% but below the national median of 0.99%. With a median home value of $26,300 in Powellton, the typical annual property tax bill is $190, significantly lower than the national median of $2,690. Property taxes in Powellton are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Powellton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Powellton 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
Powellton, 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 Powellton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Powellton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Powellton 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 Powellton, West Virginia
Property taxes in Powellton, 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 Powellton is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Powellton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Powellton 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. Understanding how Powellton's median property tax rate compares to the national median provides valuable insights into the tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Powellton 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 Powellton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25161 | 0.25% | 0.77% | 0.77% | 0.85% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Powellton, West Virginia
In Powellton, 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. In Powellton, 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 example, the highest median tax bill in Powellton is $190.00 in the 25161 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 Powellton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Powellton Assessed Value
$26,300
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 Powellton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25161 | $2,160 | $9,300 | $26,300 | $40,150 | $53,980 |
Source: Ownwell
Property Tax Bills Across Powellton, West Virginia
In Powellton, located in Fayette County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The tax rate is applied to the assessed value, not the market value, to determine the annual tax bill. The median home price in Powellton is $26,300, and the tax bills can vary widely. For instance, the 25th percentile tax bill is $63, while the 75th percentile tax bill reaches $311. At the 90th percentile, homeowners can expect to pay around $466 annually. These figures highlight the variability in tax obligations based on property assessments and locations within the city. The highest median tax bill recorded in the area is $190, which is consistent across all ZIP codes in Powellton. Compared to the national median property tax rate of 0.99%, Powellton’s property tax rates can be considered relatively low, offering some relief to homeowners in this region. This system ensures that tax obligations are distributed fairly based on property values.
Average Powellton Tax Bill
$190
Average Fayette County Tax Bill
$424
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Powellton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25161 | $24 | $63 | $190 | $311 | $466 |
Source: Ownwell