Glenwood, West Virginia Property Taxes
The median property tax rate in Glenwood, WV is 0.71%, slightly below the state median of 0.72% and significantly lower than the national median of 0.99%. With a median home value of $54,000 in Glenwood, the typical annual property tax bill amounts to $379, which is well below the national median of $2,690. Property taxes in Glenwood are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Glenwood'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 Glenwood or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Glenwood, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$383
Ownwell’s Glenwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glenwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glenwood 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 Glenwood, West Virginia
Property taxes in Glenwood, 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 Glenwood is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Glenwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glenwood 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 Glenwood's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 25520 has both the highest and lowest median property tax rate of 0.71%. Understanding how these cities compare with Glenwood provides valuable insights into the varying tax landscape across Mason County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glenwood Tax Rate
0.71%
Average Mason County Tax Rate
0.71%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glenwood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25520 | 0.23% | 0.48% | 0.71% | 0.71% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Glenwood, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Glenwood, West Virginia. 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 Mason 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 Glenwood, 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 instance, the highest median tax bill in Glenwood is $379 in the 25520 zip code, while the lowest median tax bill is also $379 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Glenwood Assessed Value
$54,000
Average Mason County Assessed Value
$68,400
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glenwood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25520 | $3,020 | $23,500 | $54,000 | $101,400 | $143,480 |
Source: Ownwell
Property Tax Bills Across Glenwood, West Virginia
In Glenwood, Mason County, WV, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate, also known as the mill rate, is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $54,000, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is approximately $159, while at the 75th percentile, it jumps to around $657. For those at the 90th percentile, the tax bill can reach up to $961. Several factors influence these amounts, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Glenwood's rates can significantly impact homeowners' finances. Understanding these elements helps homeowners anticipate their annual expenses and plan accordingly.
Average Glenwood Tax Bill
$379
Average Mason County Tax Bill
$486
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Glenwood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25520 | $68 | $159 | $379 | $657 | $961 |
Source: Ownwell