Leivasy, West Virginia Property Taxes
The median property tax rate in Leivasy, WV is 0.59%, which is considerably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $45,450 in Leivasy, the typical annual property tax bill is $206, far below the national median of $2,690. Property taxes in Leivasy are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Leivasy'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 Leivasy 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
Leivasy, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$268
Ownwell’s Leivasy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leivasy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leivasy 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 Leivasy, West Virginia
Property taxes in Leivasy, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leivasy is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Leivasy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leivasy 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 Leivasy's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26676 has both the highest and lowest median property tax rate of 0.59%. Understanding how these areas compare with Leivasy provides valuable insights into the varying tax landscape across Nicholas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leivasy Tax Rate
0.59%
Average Nicholas County Tax Rate
0.59%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leivasy, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26676 | 0.20% | 0.32% | 0.59% | 0.59% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Leivasy, West Virginia
In Leivasy, 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 Nicholas 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 Leivasy, 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 Leivasy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $206 in zip code 26676, while the lowest median tax bill is also $206 in the same zip code.
Average Leivasy Assessed Value
$45,450
Average Nicholas County Assessed Value
$56,300
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leivasy, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26676 | $10,160 | $24,875 | $45,450 | $65,825 | $88,490 |
Source: Ownwell
Property Tax Bills Across Leivasy, West Virginia
Property tax bills in Leivasy, Nicholas County, WV, are calculated based on the assessed value of a property, which is determined by the county assessor's office. The assessed value is a percentage of the market value of the home. For instance, with a median home price of $45,450, homeowners can expect their property taxes to be a fraction of this value. The tax rate, which is applied to the assessed value, plays a crucial role. In Leivasy, the tax bills vary significantly, with the 25th percentile at $119 and the 75th percentile reaching up to $348. At the higher end, the 90th percentile tax bill is $478. These figures indicate that while some homeowners pay relatively low taxes, others may face higher amounts depending on their property’s assessed value and the applicable tax rate. Understanding these factors is essential for homeowners, as property taxes directly impact annual housing costs. By keeping track of assessed values and local tax rates, homeowners can better anticipate their financial obligations.
Average Leivasy Tax Bill
$206
Average Nicholas County Tax Bill
$332
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Leivasy, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26676 | $64 | $119 | $206 | $348 | $478 |
Source: Ownwell