Winona, West Virginia Property Taxes
The median property tax rate in Winona, WV, is 0.77%, 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 Winona at $24,600, the typical annual property tax bill amounts to $154, which is significantly below the national median of $2,690. Property taxes in Winona 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 Winona'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 Winona 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
Winona, 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 WINONA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WINONA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WINONA 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 Winona, West Virginia
Property taxes in Winona, West Virginia, play a crucial role in financing essential local services like public schools, road maintenance, and emergency services. The median tax rate in Winona is 0.77%, lower than the U.S. national median of 0.99%. Local government entities within Winona set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winona 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 Winona's effective property tax rate to other areas in Fayette County and the national median. For comparison, the zip code 25942 has both the highest and lowest median property tax rate of 0.77%. Understanding how these areas compare with Winona 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 Winona 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 Winona, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25942 | 0.29% | 0.77% | 0.77% | 1.28% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Winona, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Winona, West Virginia. 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 Winona, 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. For instance, the median home price in Winona is $24,600, with tax bills ranging from $62 at the 25th percentile to $467 at the 90th percentile. The highest and lowest median tax bills are both $154 in the zip code 25942. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Winona Assessed Value
$24,600
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 Winona, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25942 | $2,580 | $9,200 | $24,600 | $46,300 | $64,960 |
Source: Ownwell
Property Tax Bills Across Winona, West Virginia
In Winona, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Winona can expect their property tax bill to vary depending on several factors, including the assessed value of their home and the tax rate set by local authorities. For example, with a median home price of $24,600, property tax bills can range significantly. The 25th percentile tax bill is around $62, while the 75th percentile tax bill reaches approximately $322. At the 90th percentile, homeowners might see tax bills as high as $467. This wide range reflects the variability in home values and tax assessments within the city. Compared to the national median property tax rate of 0.99%, Winona's property tax bills are relatively modest. Homeowners should be aware of how these factors influence their tax obligations, as they directly affect the overall cost of owning property in the area.
Average Winona Tax Bill
$154
Average Fayette County Tax Bill
$424
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Winona, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25942 | $17 | $62 | $154 | $322 | $467 |
Source: Ownwell