Cabins, West Virginia Property Taxes
The median property tax rate in Cabins, WV is 0.48%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $71,900 in Cabins, the typical annual property tax bill amounts to $323, which is well below the national median of $2,690. Property taxes in Cabins are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cabins' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Cabins or another part of Grant County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cabins, 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 Cabins Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cabins with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cabins 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 Cabins, West Virginia
Property taxes in Cabins, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cabins is 0.48%, significantly lower than the U.S. national median of 0.99%. Local government entities within Cabins set these rates annually, and they can vary across different neighborhoods. Each year, Cabins 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 Cabins' effective property tax rate to other areas in Grant County and the national median. For comparison, the zip code 26855 has the highest median property tax rate of 0.48%, while the same zip code also has the lowest median tax rate of 0.48%. Understanding how these areas compare with Cabins provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cabins Tax Rate
0.48%
Average Grant County Tax Rate
0.48%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cabins, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26855 | 0.28% | 0.48% | 0.48% | 0.48% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Cabins, West Virginia
In Cabins, 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 Grant 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 Cabins, 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 Cabins helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $323 in the 26855 zip code, while the lowest median tax bill is also $323 in the same zip code.
Average Cabins Assessed Value
$71,900
Average Grant County Assessed Value
$73,700
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cabins, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26855 | $27,480 | $48,200 | $71,900 | $104,700 | $134,000 |
Source: Ownwell
Property Tax Bills Across Cabins, West Virginia
In Cabins, WV, property tax bills are calculated based on the assessed value of a home. The median home price in Cabins is $71,900, which serves as a starting point for determining the tax bill. The assessed value is then multiplied by the local tax rate set by Grant County to calculate the annual tax obligation. Several factors influence the final tax bill, including the property's location and any applicable exemptions. For instance, tax bills in Cabins can range significantly, with the 25th percentile paying around $204, while those in the 75th percentile pay approximately $485. The highest median tax bill recorded in the area is $323, which is relatively low compared to the national median property tax rate of 0.99%. For homeowners, understanding these factors is crucial as property taxes directly impact annual household expenses. Lower tax rates in Cabins can be a financial advantage, making homeownership more affordable compared to other regions with higher property tax rates.
Average Cabins Tax Bill
$323
Average Grant County Tax Bill
$353
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Cabins, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26855 | $106 | $204 | $323 | $485 | $641 |
Source: Ownwell