Tornado, West Virginia Property Taxes
The median property tax rate in Tornado, WV is 0.76%, slightly higher than the state median of 0.72% but still below the national median of 0.99%. With a median home value of $88,200 in Tornado, the typical annual property tax bill is $639, significantly lower than the national median of $2,690. Property taxes in Tornado are based on the tax assessed value, which is often less than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Tornado’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 Tornado 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
Tornado, 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 Tornado Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tornado with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tornado 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 Tornado, West Virginia
Property taxes in Tornado, West Virginia, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Tornado is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Tornado set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tornado 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 Tornado's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25202 has both the highest and lowest median property tax rate of 0.76%. Understanding how these rates compare with Tornado 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 Tornado Tax Rate
0.76%
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 Tornado, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25202 | 0.47% | 0.60% | 0.76% | 0.76% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Tornado, West Virginia
In Tornado, 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'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 Tornado helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Tornado, the median home price stands at $88,200 with tax bills ranging from $407 at the 25th percentile to $1,275 at the 90th percentile. The zip code 25202 has the highest and lowest median tax bill at $639.
Average Tornado Assessed Value
$88,200
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 Tornado, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25202 | $24,100 | $64,600 | $88,200 | $117,300 | $160,700 |
Source: Ownwell
Property Tax Bills Across Tornado, West Virginia
In Tornado, property tax bills are calculated based on the assessed value of the property, which is determined by the Kanawha County Assessor's Office. The assessed value is typically a percentage of the property's market value, and this percentage can vary. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. Several factors influence the tax bill, including the property's location, size, and any improvements made. For example, in Tornado, the median home price is $88,200. Homeowners in the 25th percentile can expect a tax bill around $407, while those in the 75th percentile may see bills closer to $892. At the 90th percentile, tax bills can reach up to $1,275. Understanding these factors is crucial for homeowners as property taxes can significantly impact annual expenses. Compared to the national median property tax rate of 0.99%, Tornado offers a relatively moderate tax environment, which can be beneficial for long-term property investment and financial planning.
Average Tornado Tax Bill
$639
Average Kanawha County Tax Bill
$804
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Tornado, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25202 | $210 | $407 | $639 | $892 | $1,275 |
Source: Ownwell