Proctor, West Virginia Property Taxes
The median property tax rate in Proctor, WV is 0.69%, which is lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $82,750 in Proctor, the typical annual property tax bill is around $538, significantly below the national median of $2,690. Property taxes in Proctor are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Proctor'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 Proctor or another part of Wetzel County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Proctor, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$571
Ownwell’s Proctor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Proctor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Proctor 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 Proctor, West Virginia
Property taxes in Proctor, West Virginia, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Proctor is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Proctor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Proctor 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 Proctor's effective property tax rate to other areas in Wetzel County and the national median. For comparison, the 26055 zip code has both the highest and lowest median property tax rate of 0.69%. Understanding how these areas compare with Proctor provides valuable insights into the varying tax landscape across Wetzel County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Proctor Tax Rate
0.69%
Average Wetzel County Tax Rate
0.69%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Proctor, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26055 | 0.40% | 0.53% | 0.69% | 0.69% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Proctor, West Virginia
In Proctor, 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 Wetzel 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 Proctor, 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 highest median tax bill in Proctor is $538 in the 26055 zip code, which is also the lowest. Being aware of these valuation processes in Proctor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Proctor Assessed Value
$82,750
Average Wetzel County Assessed Value
$72,300
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Proctor, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26055 | $23,260 | $52,375 | $82,750 | $118,675 | $179,350 |
Source: Ownwell
Property Tax Bills Across Proctor, West Virginia
Property tax bills in Proctor, Wetzel County, WV, are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Proctor is $82,750. Homeowners can expect their tax bills to vary significantly, with the 25th percentile at $313 and the 75th percentile reaching $817. At the 90th percentile, tax bills can go up to $1,239. These figures are influenced by the local tax rate and the assessed value of the property. The highest and lowest median tax bills in the area both stand at $538, highlighting some uniformity in tax assessments within certain neighborhoods. Compared to the national median property tax rate of 0.99%, Proctor's rates offer a relatively affordable tax environment for homeowners. Understanding these factors helps homeowners anticipate their financial obligations and budget accordingly, ensuring they are prepared for their annual property tax bills.
Average Proctor Tax Bill
$538
Average Wetzel County Tax Bill
$518
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Proctor, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26055 | $159 | $313 | $538 | $817 | $1,239 |
Source: Ownwell