Mount Storm, Grant County, West Virginia Property Taxes
The median property tax rate in Mount Storm, WV is 0.48%, 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 Mount Storm at $49,700, the typical annual property tax bill is $220, well below the national median of $2,690. Property taxes in Mount Storm are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mount Storm'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 Mount Storm 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
Mount Storm, Grant County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$239
$221
Ownwell’s MOUNT STORM Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MOUNT STORM with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MOUNT STORM 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 Mount Storm, Grant County, West Virginia
Property taxes in Mount Storm, 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 Mount Storm is 0.48%, which is lower than the U.S. national median of 0.99%. Local government entities within Mount Storm set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Storm 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 Mount Storm's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26739 zip code has the highest median property tax rate of 0.48%, while the same zip code also has the lowest median tax rate of 0.48%. Understanding how these cities compare with Mount Storm provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Storm Tax Rate
0.48%
Average Grant County Tax Rate
0.48%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Storm, Grant County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26739 | 0.23% | 0.48% | 0.48% | 0.48% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Mount Storm, Grant County, West Virginia
In Mount Storm, 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 Grant 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 Mount Storm, 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 Mount Storm 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 are both $220, found in the 26739 zip code.
Property Tax Assessment Values Across Mount Storm, Grant County, West Virginia
Source: Ownwell
$32,100
$90,850
$149,600
Average Mount Storm Assessed Value
$49,700
Average Grant County Assessed Value
$73,700
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Storm, Grant County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26739 | $17,820 | $29,650 | $49,700 | $75,800 | $119,500 |
Source: Ownwell
Property Tax Bills Across Mount Storm, Grant County, West Virginia
In MOUNT STORM, located in Grant County, WV, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and typically reflects a percentage of the property's market value. Homeowners in Mount Storm see a range of property tax bills, with the 25th percentile at $129 and the 75th percentile at $354, indicating variability based on property values and other factors. To determine the tax bill, the assessed value is multiplied by the local tax rate. This rate is set by local government authorities and can vary from year to year. For example, homes in the highest median tax bill zip code, 26739, have a median tax bill of $220. This amount is significantly lower than the national median property tax rate of 0.99%, making Mount Storm an affordable place for homeowners in terms of property taxes. Factors such as property size, location, and improvements can also influence the final tax bill, impacting homeowners' annual financial obligations.
Average Mount Storm Tax Bill
$220
Average Grant County Tax Bill
$353
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Storm, Grant County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26739 | $75 | $129 | $220 | $354 | $615 |
Source: Ownwell