Charlton Heights, West Virginia Property Taxes
The median property tax rate in Charlton Heights, WV is 0.77%, slightly below the national median of 0.99% but higher than the West Virginia state median of 0.72%. With a median home value of $65,000 in Charlton Heights, the typical annual property tax bill is $474, which is significantly lower than the national median of $2,690. Property taxes in Charlton Heights are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Charlton Heights' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the center of Charlton Heights or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Charlton Heights, 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 Charlton Heights Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Charlton Heights with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Charlton Heights 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 Charlton Heights, West Virginia
Property taxes in Charlton Heights, 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 Charlton Heights is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Charlton Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charlton Heights 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 Charlton Heights's effective property tax rate to other areas in Fayette County and the national median. For comparison, the zip code 25040 has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these areas compare with Charlton Heights provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charlton Heights Tax Rate
0.77%
Average Fayette County Tax Rate
0.77%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charlton Heights, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25040 | 0.39% | 0.59% | 0.77% | 0.77% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Charlton Heights, West Virginia
In Charlton Heights, 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 Fayette 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 Charlton Heights, 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 Charlton Heights helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 25040, with a median bill of $474.00, which is significantly lower than the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Charlton Heights, West Virginia
Source: Ownwell
$14,400
$74,050
$133,700
Average Charlton Heights Assessed Value
$65,000
Average Fayette County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charlton Heights, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25040 | $31,100 | $47,000 | $65,000 | $89,900 | $127,960 |
Source: Ownwell
Property Tax Bills Across Charlton Heights, West Virginia
Property tax bills in Charlton Heights, located in Fayette County, WV, are calculated based on the assessed value of a property and the local property tax rate. The assessed value typically represents a percentage of the property's market value, which is determined through periodic evaluations by local tax assessors. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. In Charlton Heights, homeowners with properties valued at the median home price of $65,000 can expect their annual tax bills to fall between the 25th percentile at $286 and the 75th percentile at $707. For the top 10% of properties, tax bills can reach up to $920. These figures highlight the variability in property tax bills, which can significantly impact homeowners' finances. Comparatively, the national median property tax rate is 0.99%, which means that Charlton Heights' property tax rates are relatively moderate. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Charlton Heights Tax Bill
$474
Average Fayette County Tax Bill
$424
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Charlton Heights, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25040 | $127 | $286 | $474 | $707 | $920 |
Source: Ownwell