Elm Grove, West Virginia Property Taxes
The median property tax rate in Elm Grove, WV is 1.39%, considerably higher than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Elm Grove being $44,300, the typical annual property tax bill reaches $628, still below the national median of $2,690. Property taxes in Elm Grove 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 Elm Grove'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 Elm Grove 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
Elm Grove, 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 Elm Grove Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Elm Grove with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Elm Grove to provide an estimated property tax bill. This valuable resource helps you understand your potential tax liabilities with ease. For those interested in more detailed insights, you can explore trends at a neighborhood level by scrolling down for localized information. Remember, your property's assessed value is determined by the county for tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Elm Grove, West Virginia
Property taxes in Elm Grove, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elm Grove is 1.39%, significantly higher than the U.S. national median of 0.99%. Local government entities within Elm Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elm Grove 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 Elm Grove's effective property tax rate to other areas in Ohio County and the national median. For comparison, the zip code 26003 has the highest median property tax rate of 1.39%, while the same zip code also has the lowest median tax rate of 1.39%. Understanding how these rates compare with Elm Grove provides valuable insights into the varying tax landscape across Ohio County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elm Grove Tax Rate
1.39%
Average Ohio County Tax Rate
0.89%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elm Grove, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26003 | 0.69% | 0.69% | 1.39% | 1.78% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Elm Grove, West Virginia
In Elm Grove, 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 Ohio 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 Elm Grove, 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. The median home price in Elm Grove is $44,300, with tax bills ranging from $371 at the 25th percentile to $783 at the 90th percentile. The zip code with the highest and lowest median tax bill is 26003, at $628. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Elm Grove Assessed Value
$44,300
Average Ohio County Assessed Value
$94,700
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elm Grove, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26003 | $27,020 | $40,325 | $44,300 | $51,175 | $66,730 |
Source: Ownwell
Property Tax Bills Across Elm Grove, West Virginia
In Elm Grove, WV, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value of the property. For example, with a median home price of $44,300, the assessed value will be a portion of this amount, which is then subjected to the local tax rate. Factors such as property improvements, neighborhood developments, and market conditions can influence the assessed value. Homeowners in Elm Grove can expect property tax bills that vary widely. The 25th percentile tax bill is around $371, while the 75th percentile reaches $748. The 90th percentile tax bill is about $783. These variations reflect differences in property values and other local factors. Compared to the national median property tax rate of 0.99%, Elm Grove's property tax rates can significantly impact homeowners, potentially making homeownership more affordable or more costly depending on the assessed value and applicable exemptions.
Average Elm Grove Tax Bill
$628
Average Ohio County Tax Bill
$851
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Elm Grove, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26003 | $196 | $371 | $628 | $748 | $783 |
Source: Ownwell