Pool, West Virginia Property Taxes
The median property tax rate in Pool, West Virginia is 0.59%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Pool at $82,300, the typical annual property tax bill is $470, which is well below the national median of $2,690. Property taxes in Pool are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pool'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 Pool 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
Pool, 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 POOL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in POOL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in POOL 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 Pool, West Virginia
Property taxes in Pool, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pool is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Pool set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pool 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 Pool's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26684 has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these areas compare with Pool 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 Pool 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 Pool, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26684 | 0.35% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Pool, West Virginia
In POOL, 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's Office 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 POOL, 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, the median home price in POOL is $82,300, and the property tax bills range significantly, with the 25th percentile at $292 and the 90th percentile at $1,063. The highest and lowest median tax bills both are $470, found in zip code 26684. By understanding 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 POOL helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pool Assessed Value
$82,300
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 Pool, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26684 | $3,200 | $65,700 | $82,300 | $138,800 | $166,700 |
Source: Ownwell
Property Tax Bills Across Pool, West Virginia
In the city of Pool, located in Nicholas County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by local tax authorities. This assessed value is a percentage of the market value of the property. Homeowners in Pool can expect a property tax bill that varies significantly across different percentiles. For instance, the tax bill at the 25th percentile is around $292, while at the 75th percentile, it rises to approximately $818. The top 10% of tax bills can reach up to $1,063. These tax bills are influenced by several factors, including the property's assessed value, any applicable exemptions, and the local tax rate. For comparison, the national median property tax rate is 0.99%, which provides a benchmark for understanding how local rates may impact overall tax bills. For homeowners in Pool, understanding these factors is crucial as property taxes represent a significant annual expense, affecting household budgets and long-term financial planning.
Average Pool Tax Bill
$470
Average Nicholas County Tax Bill
$332
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Pool, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26684 | $154 | $292 | $470 | $818 | $1,063 |
Source: Ownwell