Mineral County Property Taxes
The median property tax rate in Mineral County is 0.72%, which aligns with the West Virginia state median but remains below the national median of 0.99%. With a median home value of $84,700 in Mineral County, the typical annual property tax bill is approximately $634, significantly lower than the national median of $2,690. Property taxes in Mineral County are based on the assessed value, which often falls below the actual market value due to exemptions like those for primary residences and agricultural properties. Understanding Mineral County's property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can lead to substantial annual savings. Whether you reside in Keyser or another part of Mineral County, gaining a comprehensive understanding of local property taxes is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Mineral County 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 Mineral County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Mineral County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Mineral County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Mineral County, West Virginia
Property taxes in Mineral County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Mineral County is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Mineral County set these rates annually, and they can vary significantly between different areas within the county. Each year, Mineral County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Piedmont has one of the higher property tax rates in West Virginia at 0.94%, while the city of Scherr boasts one of the lowest at 0.57%. Analyzing how Mineral County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Mineral County Tax Rate
0.72%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mineral County, West Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Burlington | 0.44% | 0.64% | 0.72% | 0.72% | 1.43% |
| Elk Garden | 0.29% | 0.50% | 0.72% | 0.87% | 1.43% |
| Fort Ashby | 0.51% | 0.62% | 0.72% | 0.72% | 1.43% |
| Keyser | 0.45% | 0.61% | 0.72% | 0.94% | 1.44% |
| Lahmansville | 0.40% | 0.57% | 0.72% | 0.72% | 1.15% |
| New Creek | 0.42% | 0.58% | 0.72% | 0.72% | 0.73% |
| Piedmont | 0.39% | 0.94% | 0.94% | 1.88% | 1.88% |
| Purgitsville | 0.26% | 0.39% | 0.72% | 0.72% | 0.72% |
| Ridgeley | 0.45% | 0.57% | 0.72% | 0.87% | 1.43% |
| Romney | 0.53% | 0.54% | 0.72% | 0.72% | 0.72% |
| Scherr | 0.31% | 0.37% | 0.57% | 0.69% | 0.72% |
| Springfield | 0.47% | 0.61% | 0.72% | 0.72% | 0.80% |
| Wiley Ford | 0.41% | 0.56% | 0.72% | 0.72% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Mineral County, West Virginia
In Mineral County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Mineral County Appraisal District. The assessed value, however, 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 in Mineral County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Mineral County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. The city with the highest median tax bill in the county is Lahmansville at $931, while Purgitsville has the lowest median tax bill at $296.
Property Tax Assessment Values Across Mineral County, West Virginia
Source: Ownwell
$28,200
$78,150
$128,100
Average Mineral County Assessed Value
$84,700
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mineral County, West Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Burlington | $13,820 | $39,200 | $79,550 | $123,925 | $175,160 |
| Elk Garden | $4,990 | $24,000 | $48,700 | $81,825 | $108,280 |
| Fort Ashby | $28,520 | $74,400 | $119,900 | $168,600 | $225,840 |
| Keyser | $19,500 | $51,600 | $83,300 | $123,900 | $175,400 |
| Lahmansville | $64,540 | $78,700 | $96,100 | $163,200 | $186,720 |
| New Creek | $25,620 | $55,800 | $97,400 | $149,925 | $232,360 |
| Piedmont | $5,640 | $16,200 | $28,200 | $41,700 | $54,240 |
| Purgitsville | $30,640 | $47,250 | $69,700 | $108,750 | $118,380 |
| Ridgeley | $24,550 | $56,000 | $92,650 | $142,375 | $237,300 |
| Romney | $80,720 | $97,700 | $128,100 | $134,200 | $175,140 |
| Scherr | $38,950 | $57,250 | $84,450 | $125,675 | $178,700 |
| Springfield | $29,180 | $57,200 | $111,300 | $180,700 | $242,460 |
| Wiley Ford | $14,160 | $35,400 | $67,300 | $111,225 | $176,190 |
Source: Ownwell
Property Tax Bills Across Mineral County, West Virginia
In Mineral County, WV, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The county's property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the home's location, size, and condition. For instance, the median home price in Mineral County is $84,700, and tax bills can vary significantly across different percentiles. Homeowners in the 25th percentile pay around $353 annually, while those in the 75th percentile face a tax bill of approximately $994. At the 90th percentile, the tax bill can reach up to $1,483. Lahmansville reports the highest median tax bill at $931, while Purgitsville has the lowest at $296. These variations impact homeowners differently, potentially affecting housing affordability and financial planning. Compared to the national median property tax rate of 0.99%, Mineral County's rates offer a relatively affordable option for property owners.
Average Mineral County Tax Bill
$634
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Mineral County, West Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Burlington | $128 | $302 | $548 | $882 | $1,242 |
| Elk Garden | $72 | $170 | $370 | $592 | $866 |
| Fort Ashby | $229 | $526 | $828 | $1,211 | $1,639 |
| Keyser | $154 | $378 | $650 | $1,000 | $1,433 |
| Lahmansville | $369 | $688 | $931 | $1,128 | $1,321 |
| New Creek | $150 | $335 | $663 | $1,049 | $1,685 |
| Piedmont | $41 | $146 | $320 | $491 | $664 |
| Purgitsville | $99 | $181 | $296 | $738 | $848 |
| Ridgeley | $183 | $400 | $670 | $1,052 | $1,809 |
| Romney | $499 | $683 | $699 | $899 | $1,028 |
| Scherr | $160 | $171 | $447 | $760 | $1,080 |
| Springfield | $204 | $424 | $745 | $1,228 | $1,700 |
| Wiley Ford | $103 | $266 | $493 | $809 | $1,265 |
Source: Ownwell