Caldwell, West Virginia Property Taxes
The median property tax rate in Caldwell, WV is 0.63%, which is notably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $92,600 in Caldwell, the typical annual property tax bill amounts to $604, significantly below the national median of $2,690. Property taxes in Caldwell 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 land. Understanding Caldwell'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 Caldwell or another part of Monroe County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Caldwell, 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 Caldwell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Caldwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Caldwell 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 Caldwell, West Virginia
Property taxes in Caldwell, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Caldwell is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Caldwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Caldwell 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 Caldwell's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 24925 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Caldwell provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Caldwell Tax Rate
0.63%
Average Monroe County Tax Rate
0.63%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caldwell, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24925 | 0.41% | 0.63% | 0.63% | 0.63% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Caldwell, West Virginia
In Caldwell, 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 Monroe 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 Caldwell, 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 Caldwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $604.00, found in the 24925 zip code.
Average Caldwell Assessed Value
$92,600
Average Monroe County Assessed Value
$74,100
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caldwell, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24925 | $40,100 | $60,450 | $92,600 | $154,250 | $188,000 |
Source: Ownwell
Property Tax Bills Across Caldwell, West Virginia
In Caldwell, located in Monroe County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is typically a percentage of the market value, though the exact percentage can vary. Homeowners in Caldwell can expect their property tax bills to be influenced by this assessed value along with the local tax rate set by Monroe County. For instance, the median home price in Caldwell is $92,600. Based on this, property tax bills can range significantly. The 25th percentile tax bill is around $333, while the 75th percentile tax bill reaches up to $946. At the 90th percentile, homeowners might see tax bills as high as $1,303. These figures highlight the variability in property tax bills depending on the assessed value and local tax rates. Compared to the national median property tax rate of 0.99%, Caldwell's property tax rates and bills reflect a localized approach, impacting homeowners differently based on their property's assessed value and the county's tax policies.
Average Caldwell Tax Bill
$604
Average Monroe County Tax Bill
$436
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Caldwell, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24925 | $124 | $333 | $604 | $946 | $1,303 |
Source: Ownwell