Falling Rock, West Virginia Property Taxes
The median property tax rate in Falling Rock, WV is 0.68%, which is lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $148,950 in Falling Rock, the typical annual property tax bill amounts to $1,000, significantly below the national median of $2,690. Property taxes in Falling Rock are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Falling Rock'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 Falling Rock or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Falling Rock, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,013
Ownwell’s Falling Rock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Falling Rock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Falling Rock 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 Falling Rock, West Virginia
Property taxes in Falling Rock, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Falling Rock is 0.68%, lower than the U.S. national median of 0.99%. Local government entities within Falling Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Falling Rock 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 Falling Rock's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25079 has the highest median property tax rate of 0.68%, while the same zip code also has the lowest median tax rate of 0.68%. Understanding how these cities compare with Falling Rock provides valuable insights into the varying tax landscape across Kanawha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Falling Rock Tax Rate
0.68%
Average Kanawha County Tax Rate
0.76%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Falling Rock, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25079 | 0.52% | 0.57% | 0.68% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Falling Rock, West Virginia
In Falling Rock, 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 Kanawha 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 Falling Rock, 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 Falling Rock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 25079 has the highest and lowest median tax bills, both at $1000.
Property Tax Assessment Values Across Falling Rock, West Virginia
Source: Ownwell
$23,100
$104,350
$185,600
Average Falling Rock Assessed Value
$148,950
Average Kanawha County Assessed Value
$88,100
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Falling Rock, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25079 | $104,310 | $124,425 | $148,950 | $175,850 | $200,240 |
Source: Ownwell
Property Tax Bills Across Falling Rock, West Virginia
In Falling Rock, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessment considers factors such as the property's market value, location, and any improvements made to the property. Homeowners in Falling Rock, Kanawha County, can expect their tax bills to vary within specific percentiles. For instance, the 25th percentile tax bill is around $840, while the 75th percentile reaches approximately $1,178. At the higher end, the 90th percentile tax bill can climb to about $1,453. Compared to the national median property tax rate of 0.99%, the property taxes in Falling Rock may seem modest. These taxes directly impact homeowners by influencing their annual housing costs and potentially affecting their ability to afford other expenses. Understanding how these factors interplay is crucial for homeowners looking to manage their finances effectively.
Average Falling Rock Tax Bill
$1,000
Average Kanawha County Tax Bill
$804
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Falling Rock, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25079 | $597 | $840 | $1,000 | $1,178 | $1,453 |
Source: Ownwell