Cross Lanes, West Virginia Property Taxes
The median property tax rate in Cross Lanes, WV is 0.76%, which is lower than the national median of 0.99% but slightly higher than the West Virginia state median of 0.72%. With a median home value of $107,500, the typical annual property tax bill in Cross Lanes amounts to $951, falling below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding the nuances of Cross Lanes' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Cross Lanes or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cross Lanes, 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 CROSS LANES Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CROSS LANES with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CROSS LANES 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 Cross Lanes, West Virginia
Property taxes in Cross Lanes, 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 Cross Lanes is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Cross Lanes set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cross Lanes 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 Cross Lanes' effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 25313 has the highest median property tax rate of 0.76%, while the same zip code also has the lowest median tax rate of 0.76%. Understanding how these areas compare with Cross Lanes provides valuable insights into the varying tax landscape across Kanawha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cross Lanes Tax Rate
0.76%
Average Kanawha County Tax Rate
0.76%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cross Lanes, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25313 | 0.61% | 0.76% | 0.76% | 1.51% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Cross Lanes, West Virginia
In Cross Lanes, 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 Kanawha 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 Cross Lanes, 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 example, the median home price is $107,500, with tax bills ranging from $795 at the 25th percentile to $1,614 at the 90th percentile. The zip code 25313 has the highest and lowest median tax bill at $951. Being aware of these valuation processes in Cross Lanes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Cross Lanes, West Virginia
Source: Ownwell
$23,100
$104,350
$185,600
Average Cross Lanes Assessed Value
$107,500
Average Kanawha County Assessed Value
$88,100
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cross Lanes, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25313 | $45,020 | $63,300 | $107,500 | $162,900 | $201,760 |
Source: Ownwell
Property Tax Bills Across Cross Lanes, West Virginia
In Cross Lanes, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Various factors can influence this assessed value, including recent home sales, property improvements, and overall market conditions. For homeowners in Cross Lanes, the tax bill can significantly impact their annual expenses. The median home price in the area is $107,500, with tax bills ranging from $795 at the 25th percentile to $1,202 at the 75th percentile, and reaching up to $1,614 at the 90th percentile. Compared to the national median property tax rate of 0.99%, homeowners in Cross Lanes may find their property tax rates relatively manageable. However, it's essential to consider that property taxes are an ongoing expense, which can affect long-term affordability and financial planning for homeowners.
Average Cross Lanes Tax Bill
$951
Average Kanawha County Tax Bill
$804
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Cross Lanes, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25313 | $515 | $795 | $951 | $1,202 | $1,614 |
Source: Ownwell