Layland, West Virginia Property Taxes
The median property tax rate in Layland, WV is 0.72%, aligning with the state median but still below the national median of 0.99%. With the median home value in Layland at $8,050, the typical annual property tax bill is $109, significantly lower than the national median of $2,690. Property taxes in Layland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Layland'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 Layland or another part of Raleigh County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Layland, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$58
-$607
Ownwell’s Layland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Layland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Layland 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 Layland, West Virginia
Property taxes in Layland, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Layland is 0.72%, which is lower than both the West Virginia state median of 0.55% and the U.S. national median of 0.99%. Local government entities within Layland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Layland 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 Layland's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25864 zip code has the highest median property tax rate of 0.72%, while the 25864 zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Layland provides valuable insights into the varying tax landscape across Raleigh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Layland Tax Rate
0.72%
Average Raleigh County Tax Rate
0.72%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Layland, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25864 | 0.72% | 0.72% | 0.72% | 1.44% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Layland, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Layland, 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 Raleigh County Appraisal District 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 Layland, 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 zip code 25864 has both the highest and lowest median tax bill of $109. Being aware of these valuation processes in Layland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Layland Assessed Value
$8,050
Average Raleigh County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Layland, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25864 | $4,980 | $6,700 | $8,050 | $19,200 | $49,510 |
Source: Ownwell
Property Tax Bills Across Layland, West Virginia
In Layland, Raleigh County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The median home price in Layland is $8,050, and the property tax rate is applied to this assessed value to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, thus affecting the tax bill. Homeowners in Layland can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $57, while the 75th percentile reaches $156, and the 90th percentile can be as high as $357. This range indicates the variability in property values and the corresponding tax burdens. Compared to the national median property tax rate of 0.99%, Layland's property taxes are relatively low, providing some financial relief to homeowners. However, understanding how these factors influence individual tax bills is crucial for effective financial planning and property management.
Average Layland Tax Bill
$109
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Layland, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25864 | $43 | $57 | $109 | $156 | $357 |
Source: Ownwell