Mullens, West Virginia Property Taxes
The median property tax rate in Mullens, WV is 0.91%, which is slightly below the national median of 0.99% but significantly higher than the West Virginia state median of 0.72%. With the median home value in Mullens at $29,500, the typical annual property tax bill is approximately $271, well below the national median of $2,690. Property taxes in Mullens 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 Mullens' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mullens or another part of Wyoming County, gaining insight into the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Mullens, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$268
Ownwell’s Mullens Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mullens with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mullens 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 Mullens, West Virginia
Property taxes in Mullens, West Virginia, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Mullens is 0.91%, which is slightly below the U.S. national median of 0.99%. Local government entities within Mullens set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mullens 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 Mullens' effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25882 zip code has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with Mullens 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 Mullens Tax Rate
0.91%
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 Mullens, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25882 | 0.24% | 0.91% | 0.91% | 1.82% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Mullens, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mullens, Wyoming County, 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 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. 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 Mullens helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mullens is $29,500, with tax bills ranging from $132 at the 25th percentile to $666 at the 90th percentile. The highest and lowest median tax bills are both $271, found in the 25882 zip code.
Average Mullens Assessed Value
$29,500
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 Mullens, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25882 | $8,090 | $20,275 | $29,500 | $43,025 | $59,910 |
Source: Ownwell
Property Tax Bills Across Mullens, West Virginia
In Mullens, property tax bills are determined based on the assessed value of your home, which is typically a percentage of its market value. The local property tax rate is then applied to this assessed value to calculate your annual tax bill. For instance, homeowners in Mullens, located in Wyoming County, experience a range of tax bills. The 25th percentile tax bill is $132, while the 75th percentile reaches $448, and the 90th percentile can go up to $666. Several factors influence your tax bill, including property location, home size, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Mullens presents a relatively lower tax burden, making it an attractive place for homeowners. Understanding these factors can help homeowners anticipate their annual expenses and better manage their finances. The highest and lowest median tax bills in the area are both $271, indicating a consistent tax rate across different properties.
Average Mullens Tax Bill
$271
Average Wyoming County Tax Bill
$190
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Mullens, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25882 | $53 | $132 | $271 | $448 | $666 |
Source: Ownwell