Quinwood, West Virginia Property Taxes
The median property tax rate in Quinwood, WV is 0.72%, aligning with the state median but lower than the national median of 0.99%. With the median home value in Quinwood at $33,500, the typical annual property tax bill is $198, significantly below the national median of $2,690. Property taxes in Quinwood 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 Quinwood'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 Quinwood 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
Quinwood, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$241
Ownwell’s QUINWOOD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in QUINWOOD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in QUINWOOD 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 Quinwood, West Virginia
Property taxes in Quinwood, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Quinwood is 0.72%, lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Quinwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Quinwood 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 Quinwood's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25981 zip code has the highest median property tax rate of 0.72%, while the 25981 zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Quinwood provides valuable insights into the varying tax landscape across Greenbrier County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Quinwood Tax Rate
0.72%
Average Greenbrier County Tax Rate
0.57%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Quinwood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25981 | 0.17% | 0.45% | 0.72% | 1.15% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Quinwood, West Virginia
In Quinwood, 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 Greenbrier 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 Quinwood, 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 Quinwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Quinwood is $198 in the 25981 zip code, while the lowest is also $198 in the same zip code.
Average Quinwood Assessed Value
$33,500
Average Greenbrier County Assessed Value
$70,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Quinwood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25981 | $6,370 | $17,875 | $33,500 | $50,425 | $73,180 |
Source: Ownwell
Property Tax Bills Across Quinwood, West Virginia
In Quinwood, located in Greenbrier County, WV, property tax bills are calculated based on the assessed value of a property. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Factors such as property size, location, and improvements can influence this assessed value. Once the assessed value is established, a tax rate, often referred to as a millage rate, is applied. This rate is set by local government entities and varies annually. For homeowners in Quinwood, the median home price is $33,500. Property tax bills can vary significantly, with the 25th percentile tax bill at $89 and the 75th percentile at $335, while the 90th percentile reaches $466. These figures reflect the range of property values and corresponding tax liabilities in the area. Comparatively, the highest and lowest median tax bills in the region are both $198, indicating a relatively uniform tax burden across different properties. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Quinwood Tax Bill
$198
Average Greenbrier County Tax Bill
$454
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Quinwood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25981 | $49 | $89 | $198 | $335 | $466 |
Source: Ownwell