Nallen, West Virginia Property Taxes
The median property tax rate in Nallen, WV is 0.77%, slightly lower than the national median of 0.99% but higher than the West Virginia state median of 0.72%. With a median home value of $59,900 in Nallen, the typical annual property tax bill comes to $427, significantly below the national median of $2,690. Property taxes in Nallen are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Nallen'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 Nallen or another part of Fayette County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nallen, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$461
Ownwell’s Nallen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nallen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nallen 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 Nallen, West Virginia
Property taxes in Nallen, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nallen is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Nallen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nallen 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 Nallen's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26680 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 cities compare with Nallen 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 Nallen 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 Nallen, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26680 | 0.36% | 0.63% | 0.77% | 0.77% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Nallen, West Virginia
In Nallen, 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 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 Nallen, 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 Nallen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Fayette County, the zip code 26680 has the highest median tax bill at $427.00, while the lowest median tax bill is also found in zip code 26680 at $427.00.
Average Nallen Assessed Value
$59,900
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 Nallen, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26680 | $11,220 | $30,900 | $59,900 | $86,900 | $114,600 |
Source: Ownwell
Property Tax Bills Across Nallen, West Virginia
In Nallen, located in Fayette County, WV, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. Homeowners in Nallen can expect their property tax bills to vary significantly depending on the value of their property and the specific tax rate applied by the county. For example, the median home price in Nallen is $59,900. Property tax bills in the area range widely, with the 25th percentile tax bill at $156 and the 75th percentile tax bill at $637. At the higher end, the 90th percentile tax bill reaches $874. These figures illustrate the variability in property tax obligations for homeowners, influenced by factors such as property value and applicable exemptions. Compared to the national median property tax rate of 0.99%, Nallen's tax rates and resulting bills can be quite different, directly impacting the financial responsibilities of homeowners in the area.
Average Nallen Tax Bill
$427
Average Fayette County Tax Bill
$424
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Nallen, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26680 | $62 | $156 | $427 | $637 | $874 |
Source: Ownwell