Stollings, West Virginia Property Taxes
The median property tax rate in Stollings, WV is 0.75%, 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 $59,950 in Stollings, the typical annual property tax bill amounts to $384, significantly below the national median of $2,690. Property taxes in Stollings are determined based on the assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Stollings' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Stollings or another part of Logan County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stollings, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$450
Ownwell’s Stollings Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Stollings with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stollings to provide an estimated property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more localized information, trends at the neighborhood level are available by scrolling down. Your property’s assessed value is determined by Logan County for property tax calculations and accounts for any applicable exemptions.
Property Tax Rates Across Stollings, West Virginia
Property taxes in Stollings, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stollings is 0.75%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Stollings set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stollings 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 Stollings' effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25646 zip code has the highest median property tax rate of 0.75%, while the 25646 zip code also has the lowest median tax rate of 0.75%. Understanding how these areas compare with Stollings 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 Stollings 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 Stollings, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25646 | 0.30% | 0.40% | 0.75% | 0.75% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Stollings, West Virginia
In Stollings, 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 Appraisal District 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. 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 Stollings helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 25646, and the lowest is also 25646, both at $384.
Average Stollings Assessed Value
$59,950
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 Stollings, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25646 | $28,300 | $42,075 | $59,950 | $76,050 | $99,220 |
Source: Ownwell
Property Tax Bills Across Stollings, West Virginia
In Stollings, WV, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. For homeowners in Logan County, the median home price stands at $59,950. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Stollings can expect their property tax bills to vary widely. The 25th percentile tax bill is approximately $233, while those in the 75th percentile might see bills around $605. For the top 10% of homeowners, tax bills can reach up to $867. These variations highlight the impact of property values and local tax policies on individual tax burdens. Compared to the national median property tax rate of 0.99%, the tax rates in Stollings reflect local economic conditions and funding needs for public services.
Average Stollings Tax Bill
$384
Average Logan County Tax Bill
$306
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Stollings, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25646 | $131 | $233 | $384 | $605 | $867 |
Source: Ownwell