Culloden, West Virginia Property Taxes
The median property tax rate in Culloden, WV is 0.73%, slightly higher than the West Virginia state median of 0.72% but lower than the national median of 0.99%. With the median home value in Culloden at $121,550, the typical annual property tax bill is around $886, which is significantly less than the national median of $2,690. Property taxes in Culloden are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Culloden's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Culloden or another part of Putnam County, a thorough understanding of the local property tax system is essential for optimizing financial benefits.
Last Updated June 14, 2024
Culloden, 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 Culloden Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Culloden. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Culloden to provide an accurate estimate of your property tax bill. This valuable insight helps you understand potential tax liabilities and plan your finances accordingly. For those interested in more granular details, localized trends at the neighborhood level are also available. Your property’s assessed value, determined by the county, is used for property tax calculations and may include applicable exemptions.
Property Tax Rates Across Culloden, West Virginia
Property taxes in Culloden, West Virginia, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Culloden is 0.73%, which is lower than the national median of 0.99%. Local government entities within Culloden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Culloden 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 Culloden's effective property tax rate to other regions in West Virginia and the national median. For comparison, the zip code 25510 has the same median property tax rate of 0.73%. Understanding how these areas compare with Culloden provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Culloden Tax Rate
0.73%
Average Putnam County Tax Rate
0.73%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Culloden, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25510 | 0.50% | 0.61% | 0.73% | 0.73% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Culloden, West Virginia
In Culloden, 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 Putnam 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 Culloden, 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 Culloden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Culloden are both $886, specifically in the 25510 zip code.
Average Culloden Assessed Value
$121,550
Average Putnam County Assessed Value
$136,400
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Culloden, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25510 | $68,000 | $92,800 | $121,550 | $163,300 | $221,500 |
Source: Ownwell
Property Tax Bills Across Culloden, West Virginia
In Culloden, located in Putnam County, WV, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Culloden, the median home price stands at $121,550. Property taxes can vary significantly; for instance, the tax bill at the 25th percentile is $604, while at the 75th percentile, it rises to $1,193, and at the 90th percentile, it reaches $1,715. The highest and lowest median tax bills in the area are both $886, indicating a relatively uniform tax rate across different properties. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners should be aware that these taxes fund essential public services like schools, infrastructure, and emergency services. Understanding how these elements interact can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Culloden Tax Bill
$886
Average Putnam County Tax Bill
$1,099
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Culloden, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25510 | $424 | $604 | $886 | $1,193 | $1,715 |
Source: Ownwell