Alderson, West Virginia Property Taxes
The median property tax rate in Alderson, WV is 0.41%, 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 $58,350 in Alderson, the typical annual property tax bill is $256, far below the national median of $2,690. Property taxes in Alderson are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Alderson'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 Alderson 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
Alderson, 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 Alderson Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Alderson with just two data inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Alderson to project your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, you can scroll down to discover more localized information. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Alderson, West Virginia
Property taxes in Alderson, 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 Alderson is 0.41%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Alderson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alderson 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 Alderson's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 24910 has both the highest and lowest median property tax rate of 0.41%. Understanding how these areas compare with Alderson provides valuable insights into the varying tax landscape across Summers County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alderson Tax Rate
0.41%
Average Summers County Tax Rate
0.41%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alderson, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24910 | 0.24% | 0.41% | 0.41% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Alderson, West Virginia
In Alderson, 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 Summers 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 Alderson, 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 Alderson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $256 in zip code 24910.
Average Alderson Assessed Value
$58,350
Average Summers County Assessed Value
$66,000
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alderson, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24910 | $15,300 | $27,875 | $58,350 | $98,975 | $164,400 |
Source: Ownwell
Property Tax Bills Across Alderson, West Virginia
In Alderson, Summers County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value represents a percentage of the market value of the property. The local tax rate is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the assessed value, including the property's location, size, and condition. Homeowners in Alderson can expect a median home price of $58,350. The tax bill varies significantly, with the 25th percentile at $152 and the 75th percentile at $433. For those at the 90th percentile, the tax bill can reach up to $677. Compared to the national median property tax rate of 0.99%, Alderson's property tax rates are relatively modest, making it an affordable place for homeowners. However, the tax burden can still impact household budgets, especially for those with higher-value properties or fixed incomes. Understanding these factors can help homeowners better manage their finances and plan for annual expenses.
Average Alderson Tax Bill
$256
Average Summers County Tax Bill
$304
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Alderson, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24910 | $83 | $152 | $256 | $433 | $677 |
Source: Ownwell