Nimitz, West Virginia Property Taxes
The median property tax rate in Nimitz, 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 Nimitz, the typical annual property tax bill comes to $398, well below the national median of $2,690. Property taxes in Nimitz are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Nimitz'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 Nimitz or another part of Summers County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nimitz, 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 Nimitz Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nimitz with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nimitz 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 Nimitz, West Virginia
Property taxes in Nimitz, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nimitz 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 Nimitz set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nimitz 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 Nimitz's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25978 zip code has both the highest and lowest median property tax rate of 0.41%, as it encompasses the entire area. Understanding how these cities compare with Nimitz 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 Nimitz 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 Nimitz, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25978 | 0.21% | 0.30% | 0.41% | 0.41% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Nimitz, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Nimitz, 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 Summers 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 Nimitz, 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. For instance, the median home price in Nimitz is $92,800, with tax bills ranging from $218 at the 25th percentile to $871 at the 90th percentile. The highest and lowest median tax bills are both $398 in the 25978 zip code. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Nimitz Assessed Value
$92,800
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 Nimitz, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25978 | $17,320 | $49,300 | $92,800 | $143,750 | $228,380 |
Source: Ownwell
Property Tax Bills Across Nimitz, West Virginia
In Nimitz, located in Summers County, WV, property tax bills are calculated based on the assessed value of a home, not its market value. The assessed value is a percentage of the market value, which is determined by the county assessor. Homeowners in Nimitz typically experience a range of tax bills depending on various factors such as property size, location, and improvements made to the property. For instance, the tax bill at the 25th percentile is $218, while at the 75th percentile, it is $626. The tax bill at the 90th percentile can reach up to $871. The median home price in Nimitz is $92,800, which influences the overall tax burden. Compared to the national median property tax rate of 0.99%, residents in Nimitz might find their property tax rates to be relatively manageable. These tax bills fund essential community services like schools, roads, and emergency services, directly impacting the quality of life for homeowners.
Average Nimitz Tax Bill
$398
Average Summers County Tax Bill
$304
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Nimitz, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25978 | $108 | $218 | $398 | $626 | $871 |
Source: Ownwell