Dunmore, West Virginia Property Taxes
The median property tax rate in Dunmore, WV is 0.39%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $58,100 in Dunmore, the typical annual property tax bill is $222, which is well below the national median of $2,690. Property taxes in Dunmore are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Dunmore'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 Dunmore 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
Dunmore, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$227
Ownwell’s DUNMORE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DUNMORE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DUNMORE 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 Dunmore, West Virginia
Property taxes in Dunmore, 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 Dunmore is 0.39%, significantly lower than both the West Virginia state median of 0.57% and the U.S. national median of 0.99%. Local government entities within Dunmore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dunmore 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 Dunmore's effective property tax rate to other counties in West Virginia and the national median. For comparison, the highest median property tax rate in West Virginia is found in zip code 26554, with a rate of 0.84%, while the lowest median tax rate is in zip code 24740, at 0.31%. Understanding how these cities compare with Dunmore provides valuable insights into the varying tax landscape across Pocahontas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dunmore Tax Rate
0.39%
Average Pocahontas County Tax Rate
0.39%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dunmore, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24934 | 0.27% | 0.39% | 0.39% | 0.39% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Dunmore, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Dunmore, West Virginia. 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 Pocahontas 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 Dunmore, 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 Dunmore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median tax bill in the 24934 zip code is $222, highlighting the importance of understanding these concepts to manage property taxes effectively.
Average Dunmore Assessed Value
$58,100
Average Pocahontas County Assessed Value
$74,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dunmore, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24934 | $14,100 | $28,150 | $58,100 | $96,600 | $149,300 |
Source: Ownwell
Property Tax Bills Across Dunmore, West Virginia
Property tax bills in Dunmore, Pocahontas County, WV, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, determined by the county assessor. Factors such as property size, location, and market conditions influence this valuation. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For homeowners in Dunmore, the median home price is $58,100. Property tax bills can vary significantly, with the 25th percentile at $114 and the 75th percentile at $373, highlighting the range of what residents might pay. The 90th percentile tax bill can reach up to $634, indicating that higher-valued properties face steeper taxes. Comparatively, the national median property tax rate is 0.99%, so homeowners in Dunmore benefit from relatively lower rates. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances accordingly.
Average Dunmore Tax Bill
$222
Average Pocahontas County Tax Bill
$346
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Dunmore, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24934 | $57 | $114 | $222 | $373 | $634 |
Source: Ownwell