Wadestown, West Virginia Property Taxes
The median property tax rate in Wadestown, WV is 0.64%, which is notably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Wadestown at $108,750, the typical annual property tax bill amounts to $688, significantly below the national median of $2,690. Property taxes in Wadestown are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wadestown'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 Wadestown 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
Wadestown, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$696
Ownwell’s Wadestown Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Wadestown. By entering your property's estimated assessed value, the calculator uses the median tax rate in Wadestown to provide an accurate estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities with ease. For those interested in more granular insights, you can explore neighborhood-level trends by scrolling down. Your property’s assessed value, determined by the county, plays a crucial role in these calculations and may include applicable exemptions.
Property Tax Rates Across Wadestown, West Virginia
Property taxes in Wadestown, 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 Wadestown is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Wadestown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wadestown 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 Wadestown's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26590 zip code has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these areas compare with Wadestown provides valuable insights into the varying tax landscape across Monongalia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wadestown Tax Rate
0.64%
Average Monongalia County Tax Rate
0.64%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wadestown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26590 | 0.42% | 0.52% | 0.64% | 0.64% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Wadestown, West Virginia
In Wadestown, 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 Monongalia 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 Wadestown, 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. For instance, in Wadestown, the median home price is $108,750, with tax bills ranging from $400 at the 25th percentile to $1,302 at the 90th percentile. 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 Wadestown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Wadestown, West Virginia
Source: Ownwell
$18,150
$102,575
$187,000
Average Wadestown Assessed Value
$108,750
Average Monongalia County Assessed Value
$146,600
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wadestown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26590 | $35,990 | $70,200 | $108,750 | $149,050 | $193,900 |
Source: Ownwell
Property Tax Bills Across Wadestown, West Virginia
In Wadestown, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value, and this percentage can vary. For homeowners in Wadestown, the median home price is $108,750. The property tax rate in Monongalia County, where Wadestown is located, influences the final tax bill. Several factors contribute to the determination of a property tax bill, including the assessed value of the property, the local tax rate, and any applicable exemptions or deductions. For instance, the 25th percentile tax bill is $400, while the 75th percentile tax bill reaches $918, showing a range of what homeowners might expect to pay. At the 90th percentile, the tax bill can be as high as $1,302. These property taxes fund essential community services such as schools, public safety, and infrastructure. Homeowners must carefully consider these costs as they can significantly impact the overall affordability of owning property in Wadestown.
Average Wadestown Tax Bill
$688
Average Monongalia County Tax Bill
$1,138
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Wadestown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26590 | $214 | $400 | $688 | $918 | $1,302 |
Source: Ownwell