Monaville, West Virginia Property Taxes
The median property tax rate in Monaville, WV is 0.49%, 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 $37,600 in Monaville, the typical annual property tax bill is $158, well below the national median of $2,690. Property taxes in Monaville are calculated based on the tax assessed value, which often falls below market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Monaville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Monaville or another part of Logan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Monaville, 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 Monaville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Monaville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monaville 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 Monaville, West Virginia
Property taxes in Monaville, 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 Monaville is 0.49%, which is lower than the U.S. national median of 0.99%. Local government entities within Monaville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Monaville 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 Monaville's effective property tax rate to other regions and the national median. For comparison, the 25601 zip code has the highest median property tax rate of 0.49%, while the same zip code also has the lowest median tax rate of 0.49%. Understanding how these figures compare with Monaville provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Monaville Tax Rate
0.49%
Average Logan County Tax Rate
0.75%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Monaville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25601 | 0.29% | 0.37% | 0.49% | 0.62% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Monaville, West Virginia
In Monaville, 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 Logan 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 Monaville, 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 Monaville 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 $158 in the 25601 zip code, providing a benchmark for local property tax expectations.
Average Monaville Assessed Value
$37,600
Average Logan County Assessed Value
$40,900
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Monaville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25601 | $28,880 | $32,150 | $37,600 | $43,050 | $46,320 |
Source: Ownwell
Property Tax Bills Across Monaville, West Virginia
In Monaville, WV, property tax bills are calculated based on the assessed value of the home, which is a percentage of its market value. For homeowners, the median home price stands at $37,600. The tax rate in Logan County, where Monaville is located, is applied to this assessed value to determine the annual tax bill. Various factors influence the assessed value, including the property's location, size, and condition. Homeowners in Monaville can expect their property tax bills to vary, with the 25th percentile tax bill at $136, and the 75th percentile at $180. At the higher end, the 90th percentile tax bill reaches $193. These figures show that property tax bills in Monaville are relatively low compared to the national median property tax rate of 0.99%. This lower tax burden can be beneficial for homeowners, making it more affordable to maintain ownership and invest in their properties. However, it also means that local services funded by property taxes might be more limited.
Average Monaville Tax Bill
$158
Average Logan County Tax Bill
$306
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Monaville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25601 | $123 | $136 | $158 | $180 | $193 |
Source: Ownwell