Summersville, West Virginia Property Taxes
The median property tax rate in Summersville, WV 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 Summersville at $72,500, the typical annual property tax bill amounts to $448, well below the national median of $2,690. Property taxes in Summersville are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Summersville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Summersville or another part of Nicholas County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Summersville, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$428
Ownwell’s Summersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Summersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Summersville 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 Summersville, West Virginia
Property taxes in Summersville, 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 Summersville is 0.59%, lower than the U.S. national median of 0.99%. Local government entities within Summersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Summersville 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 Summersville's effective property tax rate to other regions in West Virginia and the national median. For comparison, the zip code 26651 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 Summersville 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 Summersville 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 Summersville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26651 | 0.32% | 0.49% | 0.59% | 0.74% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Summersville, West Virginia
In Summersville, 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 Summersville, 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. With the national median property tax rate at 0.99%, Summersville's median tax bill is $448.00, with the highest and lowest median tax bills both found in the 26651 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Summersville, West Virginia
Source: Ownwell
$21,600
$58,400
$95,200
Average Summersville Assessed Value
$72,500
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 Summersville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26651 | $7,200 | $34,350 | $72,500 | $114,800 | $167,500 |
Source: Ownwell
Property Tax Bills Across Summersville, West Virginia
In Summersville, located in Nicholas County, WV, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the market value, and local tax rates are applied to this assessed value to determine the tax bill. For homeowners in Summersville, the median home price is $72,500. Property tax bills can vary significantly, with the 25th percentile at $214 and the 75th percentile at $748, reflecting the range of property values and tax rates within the area. The highest median tax bill in the region is $448, which is also the lowest, indicating a consistent tax rate across different property values. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting homeowners by contributing to community well-being and property value stability. Compared to the national median property tax rate of 0.99%, Summersville's property tax rates offer a relatively affordable option for homeowners, making it an attractive place for property investment.
Average Summersville Tax Bill
$448
Average Nicholas County Tax Bill
$332
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Summersville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26651 | $91 | $214 | $448 | $748 | $1,137 |
Source: Ownwell