Munday, Calhoun County, West Virginia Property Taxes
The median property tax rate in Munday, WV 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 in Munday of $39,450, the typical annual property tax bill is $197, far below the national median of $2,690. Property taxes in Munday 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 Munday'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 Munday 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
Munday, Calhoun County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$197
$183
Ownwell’s Munday Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Munday with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Munday 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 Munday, Calhoun County, West Virginia
Property taxes in Munday, 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 Munday is 0.50%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Munday set these rates annually, and they can vary significantly across different neighborhoods. Each year, Munday 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 Munday's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26152 has the highest median property tax rate of 0.50%, while the same zip code also has the lowest median tax rate of 0.50%. Understanding how these cities compare with Munday 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 Munday 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 Munday, Calhoun County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26152 | 0.23% | 0.50% | 0.50% | 0.50% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Munday, Calhoun County, West Virginia
In Munday, 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 Munday, 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. The highest median tax bill in Munday is $197 in the 26152 zip code, while the lowest is also $197. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Munday, Calhoun County, West Virginia
Source: Ownwell
$39,450
$52,300
$65,150
Average Munday Assessed Value
$39,450
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 Munday, Calhoun County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26152 | $9,270 | $19,750 | $39,450 | $56,500 | $139,140 |
Source: Ownwell
Property Tax Bills Across Munday, Calhoun County, West Virginia
In Munday, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. The median home price in Munday is $39,450. Property tax rates in Munday are influenced by the needs of the local government and school districts, which rely on these taxes for funding. Homeowners in Munday can expect their tax bills to vary significantly; the 25th percentile tax bill is around $119, while the 75th percentile reaches $346. For those at the 90th percentile, tax bills can go as high as $716. Compared to the national median property tax rate of 0.99%, Munday's tax rates are relatively modest. These tax bills can impact homeowners by affecting their overall housing costs and budgeting. Understanding how these factors come together helps residents anticipate their financial obligations and plan accordingly.
Average Munday Tax Bill
$197
Average Calhoun County Tax Bill
$231
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Munday, Calhoun County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26152 | $58 | $119 | $197 | $346 | $716 |
Source: Ownwell