Millville, West Virginia Property Taxes
The median property tax rate in Millville, WV is 0.70%, slightly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Millville at $121,900, the typical annual property tax bill is $992, which is below the national median of $2,690. Property taxes in Millville 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 Millville'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 Millville or another part of Jefferson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Millville, 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 Millville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millville 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 Millville, West Virginia
Property taxes in Millville, West Virginia, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Millville stands at 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Millville set these rates annually, and they can vary across different neighborhoods. Each year, Millville 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 Millville's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25432 has both the highest and lowest median property tax rate of 0.70%. Understanding how these areas compare with Millville provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Millville Tax Rate
0.70%
Average Jefferson County Tax Rate
0.70%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Millville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25432 | 0.56% | 0.64% | 0.70% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Millville, West Virginia
In Millville, 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 Jefferson County Assessor's Office 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 Millville, 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. The median home price in Millville is $121,900, with tax bills ranging from $663 at the 25th percentile to $2,504 at the 90th percentile. The zip code 25432 has the highest median tax bill of $992. 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 Millville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Millville, West Virginia
Source: Ownwell
$121,900
$238,400
$354,900
Average Millville Assessed Value
$121,900
Average Jefferson County Assessed Value
$267,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Millville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25432 | $47,080 | $94,600 | $121,900 | $191,000 | $248,240 |
Source: Ownwell
Property Tax Bills Across Millville, West Virginia
In Millville, Jefferson County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the total tax bill. Various factors such as property size, location, and improvements can influence the assessed value. Homeowners in Millville experience a range of property tax bills, with the 25th percentile paying around $663 and the 75th percentile paying up to $1,497 annually. The highest median tax bill in the area is $992, which is relatively low compared to the national median property tax rate of 0.99%. These property taxes fund essential public services, including schools, infrastructure, and emergency services, directly impacting the quality of life in Millville. Understanding these factors can help homeowners manage their finances and anticipate changes in their property tax obligations.
Average Millville Tax Bill
$992
Average Jefferson County Tax Bill
$2,072
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Millville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25432 | $402 | $663 | $992 | $1,497 | $2,504 |
Source: Ownwell