Smithers, West Virginia Property Taxes
The median property tax rate in Smithers, WV is 0.92%, 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 $32,700 in Smithers, the typical annual property tax bill amounts to $297, which is significantly lower than the national median of $2,690. Property taxes in Smithers are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Smithers' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Smithers or another part of Fayette County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Smithers, 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 Smithers Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Smithers with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Smithers 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 Smithers, West Virginia
Property taxes in Smithers, 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 Smithers is 0.92%, slightly below the U.S. national median of 0.99%. Local government entities within Smithers set these rates annually, and they can vary significantly across different neighborhoods. Each year, Smithers 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. Understanding how Smithers compares with other areas in Fayette County provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Smithers Tax Rate
0.92%
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 Smithers, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25186 | 0.21% | 0.60% | 0.92% | 0.92% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Smithers, West Virginia
In Smithers, 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'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. 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 Smithers helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Smithers is $297 in the 25186 zip code, which is also the lowest median tax bill.
Average Smithers Assessed Value
$32,700
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 Smithers, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25186 | $11,380 | $23,400 | $32,700 | $45,350 | $63,960 |
Source: Ownwell
Property Tax Bills Across Smithers, West Virginia
In Smithers, located in Fayette County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate, applied to this assessed value, determines the final tax bill. For instance, with a median home price of $32,700, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Several factors influence the tax bill, including the property's location within the county, the type of property, and any applicable exemptions. In Smithers, the tax bills can range significantly, with the 25th percentile at $153, the 75th percentile at $484, and the 90th percentile reaching $649. This variation highlights the importance of understanding how local assessments and tax rates impact the overall tax obligation. Homeowners in Smithers should be aware of these factors, as property taxes can significantly affect annual homeownership costs. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how local rates stack up.
Average Smithers Tax Bill
$297
Average Fayette County Tax Bill
$424
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Smithers, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25186 | $78 | $153 | $297 | $484 | $649 |
Source: Ownwell