Amigo, West Virginia Property Taxes
The median property tax rate in Amigo, WV is 0.68%, 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 $20,500 in Amigo, the typical annual property tax bill is $173, far below the national median of $2,690. Property taxes in Amigo are determined based on the assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Amigo's property tax system, exploring available exemptions, and identifying potential reductions can result in notable annual savings. Whether you're residing in Amigo or another part of Wyoming County, having a solid grasp of the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Amigo, 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 AMIGO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in AMIGO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in AMIGO 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 Amigo, West Virginia
Property taxes in Amigo, 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 Amigo is 0.68%, lower than the U.S. national median of 0.99%. Local government entities within Amigo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amigo 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 Amigo's effective property tax rate to other regions in West Virginia and the national median. For comparison, the 25811 zip code has the highest median property tax rate of 0.68%, while the 25811 zip code also has the lowest median tax rate of 0.68%. Understanding how these areas compare with Amigo provides valuable insights into the varying tax landscape across Wyoming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amigo Tax Rate
0.68%
Average Wyoming County Tax Rate
0.68%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amigo, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25811 | 0.68% | 0.68% | 0.68% | 1.37% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Amigo, West Virginia
In Amigo, 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 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 Amigo, 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 Amigo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $173.00 in zip code 25811, which is the same as the lowest median tax bill, highlighting the uniformity in the tax landscape.
Average Amigo Assessed Value
$20,500
Average Wyoming County Assessed Value
$25,000
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amigo, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25811 | $6,500 | $14,500 | $20,500 | $26,950 | $42,040 |
Source: Ownwell
Property Tax Bills Across Amigo, West Virginia
Property tax bills in Amigo, Wyoming County, WV, are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property location, size, and market conditions influence the assessed value. In Amigo, the median home price is $20,500, and the median property tax bill is $173.00, which is notably lower than the national median property tax rate of 0.99%. Tax bills can vary significantly; for instance, the 25th percentile tax bill is $114, while the 75th percentile tax bill is $268. Homeowners at the 90th percentile can expect to pay around $392. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding these factors is crucial for financial planning and managing annual expenses. Lower property taxes can be an attractive feature for potential buyers, making Amigo a cost-effective place to own property.
Average Amigo Tax Bill
$173
Average Wyoming County Tax Bill
$190
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Amigo, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25811 | $64 | $114 | $173 | $268 | $392 |
Source: Ownwell