Sandstone, West Virginia Property Taxes
The median property tax rate in Sandstone, 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 Sandstone at $79,100, the typical annual property tax bill amounts to $315, well below the national median of $2,690. Property taxes in Sandstone are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sandstone'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 Sandstone 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
Sandstone, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$324
Ownwell’s Sandstone Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sandstone with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sandstone 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 Sandstone, West Virginia
Property taxes in Sandstone, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sandstone is 0.59%, significantly higher than the West Virginia state median of 0.56% and the U.S. national median of 0.99%. Local government entities within Sandstone set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sandstone 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 Sandstone's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25985 has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these areas compare with Sandstone 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 Sandstone 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 Sandstone, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25985 | 0.24% | 0.33% | 0.41% | 0.62% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Sandstone, West Virginia
In Sandstone, 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 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 Sandstone, 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. For instance, the median home price in Sandstone is $79,100, with tax bills ranging from $194 at the 25th percentile to $773 at the 90th percentile. The zip code 25985 has the highest and lowest median tax bill at $315. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Sandstone, West Virginia
Source: Ownwell
$53,200
$106,050
$158,900
Average Sandstone Assessed Value
$79,100
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 Sandstone, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25985 | $26,650 | $42,650 | $79,100 | $126,500 | $181,630 |
Source: Ownwell
Property Tax Bills Across Sandstone, West Virginia
In Sandstone, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Factors such as property size, location, and condition influence this assessment. Homeowners in Sandstone, Summers County, can expect their property tax bills to vary widely. For instance, the 25th percentile tax bill is around $194, while the 75th percentile reaches $541. At the higher end, the 90th percentile tax bill is approximately $773. When compared to the national median property tax rate of 0.99%, the tax rates in Sandstone can seem relatively moderate. However, these taxes still significantly impact homeowners, influencing their annual budgeting and overall affordability of owning property. The highest median tax bill in the area is $315, found in the 25985 zip code. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Sandstone Tax Bill
$315
Average Summers County Tax Bill
$304
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Sandstone, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25985 | $112 | $194 | $315 | $541 | $773 |
Source: Ownwell