Sharples, West Virginia Property Taxes
The median property tax rate in Sharples, WV is 0.75%, slightly higher than the West Virginia state median of 0.72% but still below the national median of 0.99%. With the median home value in Sharples at $28,200, the typical annual property tax bill is around $213, significantly lower than the national median of $2,690. Property taxes in Sharples 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 Sharples' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Sharples or another part of Logan County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sharples, 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 Sharples Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Sharples with ease. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Sharples to provide an accurate estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities, making it easier to plan your finances. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county and is used for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Sharples, West Virginia
Property taxes in Sharples, 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 Sharples is 0.75%, lower than the U.S. national median of 0.99%. Local government entities within Sharples set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sharples 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 Sharples' effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 25183 has the highest median property tax rate of 0.75%, while the same zip code has the lowest median tax rate of 0.75%. Understanding how these cities compare with Sharples 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 Sharples Tax Rate
0.75%
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 Sharples, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25183 | 0.19% | 0.40% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Sharples, West Virginia
In Sharples, 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 Sharples, 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 Sharples helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Sharples is $213, found in zip code 25183, which is also the lowest median tax bill.
Average Sharples Assessed Value
$28,200
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 Sharples, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25183 | $17,240 | $25,100 | $28,200 | $32,400 | $34,060 |
Source: Ownwell
Property Tax Bills Across Sharples, West Virginia
In Sharples, Logan County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The median home price in Sharples is $28,200. The assessed value is a percentage of this market value, and the local tax rate is then applied to this assessed value to calculate the annual tax bill. Several factors affect the tax bill, including property size, location, and any applicable exemptions. For instance, the 25th percentile tax bill is $114, while the 75th percentile tax bill is $233, indicating a range of tax responsibilities among homeowners. The highest and lowest median tax bills in the area are both $213, suggesting uniformity in certain neighborhoods. Compared to the national median property tax rate of 0.99%, Sharples offers relatively affordable property taxes, making it a financially attractive location for homeowners. This affordability can significantly affect homeowners, reducing the overall cost of living and making homeownership more accessible.
Average Sharples Tax Bill
$213
Average Logan County Tax Bill
$306
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Sharples, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25183 | $56 | $114 | $213 | $233 | $246 |
Source: Ownwell