Procious, West Virginia Property Taxes
The median property tax rate in Procious, WV is 0.42%, 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 $43,800 in Procious, the typical annual property tax bill comes to $187, far below the national median of $2,690. Property taxes in Procious are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Procious'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 Procious or another part of Clay County, getting a grasp on the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Procious, 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 Procious Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Procious with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Procious 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 Procious, West Virginia
Property taxes in Procious, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Procious is 0.42%, significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Procious set these rates annually, and they can vary significantly across different neighborhoods. Each year, Procious 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 Procious's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25164 has both the highest and lowest median property tax rate of 0.42%. Understanding how these cities compare with Procious provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Procious Tax Rate
0.42%
Average Clay County Tax Rate
0.42%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Procious, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25164 | 0.21% | 0.42% | 0.42% | 0.42% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Procious, West Virginia
In Procious, 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 Clay County Assessor's Office 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 Procious, 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 Procious 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 both stand at $187, specifically in the 25164 zip code.
Average Procious Assessed Value
$43,800
Average Clay County Assessed Value
$39,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Procious, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25164 | $12,030 | $23,750 | $43,800 | $68,325 | $104,990 |
Source: Ownwell
Property Tax Bills Across Procious, West Virginia
In Procious, Clay County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the market value of the property. For homeowners in Procious, the median home price stands at $43,800. The tax rate applied to this assessed value is then used to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. In Procious, the tax bills can vary significantly, with the 25th percentile tax bill at $108 and the 75th percentile at $306. The 90th percentile tax bill reaches up to $478, indicating a range of property values and assessments within the area. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Procious homeowners generally face lower property tax bills, providing some financial relief while ensuring essential community services are funded.
Average Procious Tax Bill
$187
Average Clay County Tax Bill
$172
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Procious, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25164 | $60 | $108 | $187 | $306 | $478 |
Source: Ownwell