Normantown, West Virginia Property Taxes
The median property tax rate in Normantown, WV is 0.38%, 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 Normantown at $69,000, the typical annual property tax bill is $177, well below the national median of $2,690. Property taxes in Normantown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Normantown'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 Normantown 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
Normantown, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$262
Ownwell’s Normantown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Normantown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Normantown 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 Normantown, West Virginia
Property taxes in Normantown, 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 Normantown is 0.52%, which is higher than the West Virginia state median of 0.49% but still significantly lower than the U.S. national median of 0.99%. Local government entities within Normantown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Normantown 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 Normantown's effective property tax rate to other counties in West Virginia and the national median. For comparison, the highest median property tax rate in the state can be found in zip code 25301 with a rate of 1.02%, while the lowest median tax rate is in zip code 24901 at 0.21%. Understanding how these cities compare with Normantown provides valuable insights into the varying tax landscape across Gilmer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Normantown Tax Rate
0.38%
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 Normantown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25267 | 0.25% | 0.26% | 0.38% | 0.62% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Normantown, West Virginia
In Normantown, 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 Appraisal District 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 Normantown, 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 Normantown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Normantown is $69,000, with the 25th percentile tax bill at $143 and the 75th percentile at $288. The highest and lowest median tax bill, both at $177, are found in the 25267 zip code.
Average Normantown Assessed Value
$69,000
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 Normantown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25267 | $27,380 | $51,050 | $69,000 | $83,175 | $100,050 |
Source: Ownwell
Property Tax Bills Across Normantown, West Virginia
In Normantown, Calhoun County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the market value, reflecting the home's worth in the current real estate market. Property tax rates are then applied to this assessed value to determine the annual tax bill. For homeowners in Normantown, the median home price is $69,000. Tax bills can vary significantly; the 25th percentile tax bill is $143, while the 75th percentile tax bill is $288. The 90th percentile tax bill reaches $446, indicating a range of tax burdens based on property values and applicable exemptions. Compared to the national median property tax rate of 0.99%, Normantown's property tax rates and resulting bills are relatively modest. However, these taxes play a crucial role in funding local services and infrastructure, directly impacting the community's quality of life. Homeowners must consider these factors when budgeting for homeownership in Normantown.
Average Normantown Tax Bill
$177
Average Calhoun County Tax Bill
$231
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Normantown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25267 | $126 | $143 | $177 | $288 | $446 |
Source: Ownwell