Colliers, West Virginia Property Taxes
The median property tax rate in Colliers, WV is 0.80%, slightly higher than the West Virginia state median of 0.72% but below the national median of 0.99%. With a median home value of $67,300 in Colliers, the typical annual property tax bill is around $489, significantly lower than the national median of $2,690. Property taxes in Colliers are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Colliers' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Colliers or another part of the city, getting to know the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Colliers, 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 Colliers Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Colliers with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Colliers 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 Colliers, West Virginia
Property taxes in Colliers, 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 Colliers is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Colliers set these rates annually, and they can vary significantly across different neighborhoods. Each year, Colliers 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 Colliers' effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26035 has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Colliers provides valuable insights into the varying tax landscape across Brooke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Colliers Tax Rate
0.80%
Average Brooke County Tax Rate
0.80%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Colliers, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26035 | 0.38% | 0.57% | 0.80% | 0.80% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Colliers, West Virginia
In Colliers, 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 Brooke 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 Colliers, 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 Colliers helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 26035, with a median tax bill of $489.
Average Colliers Assessed Value
$67,300
Average Brooke County Assessed Value
$65,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Colliers, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26035 | $18,300 | $43,850 | $67,300 | $100,950 | $147,100 |
Source: Ownwell
Property Tax Bills Across Colliers, West Virginia
Property tax bills in Colliers, located in Brooke County, WV, are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners can expect their tax bill to be influenced by several factors, including the local tax rate and the assessed value of their property. The median home price in Colliers is $67,300, and property tax bills can vary widely. For instance, the 25th percentile tax bill is $283, while the 75th percentile tax bill is $780, and the 90th percentile tax bill reaches $1,212. The tax rate in Brooke County is slightly below the national median property tax rate of 0.99%. This means that homeowners in Colliers may find their property tax bills to be relatively manageable compared to other regions. The highest and lowest median tax bills in the area are both $489, indicating a level of consistency in what homeowners might expect to pay. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Colliers Tax Bill
$489
Average Brooke County Tax Bill
$517
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Colliers, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26035 | $115 | $283 | $489 | $780 | $1,212 |
Source: Ownwell