Meadow Creek, West Virginia Property Taxes
The median property tax rate in Meadow Creek, WV is 0.41%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Meadow Creek at $60,450, the typical annual property tax bill is $250, well below the national median of $2,690. Property taxes in Meadow Creek 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 Meadow Creek'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 Meadow Creek 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
Meadow Creek, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$248
Ownwell’s Meadow Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Meadow Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Meadow Creek 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 Meadow Creek, West Virginia
Property taxes in Meadow Creek, 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 Meadow Creek is 0.41%, significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Meadow Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Meadow Creek 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 Meadow Creek's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25977 zip code has the highest median property tax rate of 0.41%, while the same zip code also has the lowest median tax rate of 0.41%. Understanding how these cities compare with Meadow Creek 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 Meadow Creek 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 Meadow Creek, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25977 | 0.19% | 0.28% | 0.41% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Meadow Creek, West Virginia
In Meadow Creek, 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 Meadow Creek, 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 Meadow Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 25977 has the highest and lowest median tax bill of $250.
Property Tax Assessment Values Across Meadow Creek, West Virginia
Source: Ownwell
$53,200
$106,050
$158,900
Average Meadow Creek Assessed Value
$60,450
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 Meadow Creek, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25977 | $18,440 | $39,500 | $60,450 | $82,400 | $106,550 |
Source: Ownwell
Property Tax Bills Across Meadow Creek, West Virginia
In Meadow Creek, Summers County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the market value of the property, any exemptions or deductions, and the specific tax rate set by local authorities all play a role in determining the final bill. For homeowners in Meadow Creek, the median home price is $60,450. Property tax bills can vary significantly, with the 25th percentile tax bill at $127 and the 75th percentile at $385. At the 90th percentile, tax bills can reach up to $741. Despite these variations, the median tax bill in the highest and lowest zip codes within the county remains at $250. This variability in tax bills affects homeowners differently, potentially influencing decisions related to property investment, home improvements, and even relocation. The local property tax rate can be compared to the national median property tax rate of 0.99% for broader context.
Average Meadow Creek Tax Bill
$250
Average Summers County Tax Bill
$304
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Meadow Creek, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25977 | $72 | $127 | $250 | $385 | $741 |
Source: Ownwell