Chloe, West Virginia Property Taxes
The median property tax rate in Chloe, West Virginia is 0.50%, 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 $59,400 in Chloe, the typical annual property tax bill is $242, which is well below the national median of $2,690. Property taxes in Chloe are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Chloe's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Chloe or another part of Calhoun County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chloe, 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 Chloe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chloe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chloe 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 Chloe, West Virginia
Property taxes in Chloe, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chloe is 0.50%, which is lower than the U.S. national median of 0.99%. Local government entities within Chloe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chloe 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 Chloe's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25235 zip code has both the highest and lowest median property tax rate of 0.50%. Understanding how these cities compare with Chloe provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chloe Tax Rate
0.50%
Average Calhoun County Tax Rate
0.50%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chloe, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25235 | 0.17% | 0.29% | 0.50% | 0.50% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Chloe, West Virginia
In Chloe, 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 Calhoun 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 Chloe, 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 Chloe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the region is $242.00 in zip code 25235, which also has the lowest median tax bill at $242.00.
Average Chloe Assessed Value
$59,400
Average Calhoun County Assessed Value
$50,300
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chloe, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25235 | $22,950 | $37,350 | $59,400 | $86,025 | $127,970 |
Source: Ownwell
Property Tax Bills Across Chloe, West Virginia
In Chloe, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value of the home, which in Chloe, Calhoun County, averages around $59,400. The tax rate in this area is relatively low compared to the national median property tax rate of 0.99%. Homeowners in Chloe can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is approximately $124, while the 75th percentile reaches up to $374. At the higher end, the 90th percentile tax bill is about $593. These variations are influenced by factors such as property location, size, and improvements made to the home. For homeowners, understanding these factors is crucial, as property taxes directly impact annual housing costs. Managing these costs effectively can lead to significant savings over time, making it essential for homeowners to stay informed about their property tax assessments and available exemptions.
Average Chloe Tax Bill
$242
Average Calhoun County Tax Bill
$231
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Chloe, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25235 | $32 | $124 | $242 | $374 | $593 |
Source: Ownwell