Creston, West Virginia Property Taxes
The median property tax rate in Creston, WV is 0.50%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Creston at $53,900, the typical annual property tax bill is $240, well below the national median of $2,690. Property taxes in Creston are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Creston'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 Creston or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Creston, 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 Creston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Creston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Creston 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 Creston, West Virginia
Property taxes in Creston, West Virginia, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Creston is 0.50%, significantly lower than the U.S. national median of 0.99%. Local government entities within Creston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Creston 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 Creston's effective property tax rate to other regions in West Virginia and the national median. For comparison, the zip code 26141 has both the highest and lowest median property tax rate of 0.50%. Understanding how these areas compare with Creston 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 Creston 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 Creston, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26141 | 0.25% | 0.50% | 0.50% | 0.50% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Creston, West Virginia
In Creston, 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 Creston, 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 Creston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $240.00, found in the zip code 26141.
Average Creston Assessed Value
$53,900
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 Creston, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26141 | $17,440 | $30,200 | $53,900 | $78,500 | $111,120 |
Source: Ownwell
Property Tax Bills Across Creston, West Virginia
Property tax bills in Creston, located in Calhoun County, WV, are determined by a combination of the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, which is then multiplied by the tax rate set by the local government. In Creston, the median home price is $53,900, and property tax bills can vary significantly. For example, homeowners in the 25th percentile pay around $136 annually, while those in the 75th percentile pay approximately $393. The highest median tax bill recorded in the area is $240, found in the zip code 26141. These figures indicate that property taxes in Creston are relatively low compared to the national median property tax rate of 0.99%. For homeowners, this means a relatively smaller portion of their income goes towards property taxes, potentially making Creston an attractive place for those looking to manage their housing expenses effectively.
Average Creston Tax Bill
$240
Average Calhoun County Tax Bill
$231
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Creston, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26141 | $80 | $136 | $240 | $393 | $615 |
Source: Ownwell