Alum Creek, West Virginia Property Taxes
The median property tax rate in Alum Creek, WV is 0.75%, slightly above the state median of 0.72% but below the national median of 0.99%. With the median home value in Alum Creek at $67,400, the typical annual property tax bill amounts to $460, significantly lower than the national median of $2,690. Property taxes in Alum Creek are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Alum Creek'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 Alum Creek 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
Alum Creek, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$506
Ownwell’s Alum Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alum Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alum Creek 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 Alum Creek, West Virginia
Property taxes in Alum Creek, West Virginia, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Alum Creek is 0.75%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Alum Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alum Creek 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 Alum Creek's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25003 zip code has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Alum Creek provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alum Creek Tax Rate
0.75%
Average Lincoln County Tax Rate
0.75%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alum Creek, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25003 | 0.33% | 0.53% | 0.75% | 0.75% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Alum Creek, West Virginia
In Alum Creek, 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 Lincoln 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 Alum Creek, 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. The median home price in Alum Creek is $67,400, with tax bills ranging from $233 at the 25th percentile to $1,142 at the 90th percentile. The zip code with the highest and lowest median tax bill is 25003, both standing at $460. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Alum Creek Assessed Value
$67,400
Average Lincoln County Assessed Value
$50,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alum Creek, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25003 | $16,680 | $39,175 | $67,400 | $105,125 | $152,550 |
Source: Ownwell
Property Tax Bills Across Alum Creek, West Virginia
In Alum Creek, Lincoln County, WV, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Alum Creek is $67,400. Homeowners in the area can expect their property tax bill to vary significantly, with the 25th percentile tax bill at $233 and the 75th percentile reaching $779. For those in the 90th percentile, the tax bill can go up to $1,142. The property tax rate in Alum Creek is influenced by local government budgets and the need to fund public services such as schools, infrastructure, and emergency services. Homeowners should be aware that these taxes are a recurring annual expense, and fluctuations in the assessed value of their property can lead to changes in their tax bill. Compared to the national median property tax rate of 0.99%, Alum Creek’s rate may offer some relief, but it is essential for homeowners to stay informed about local assessments and potential appeals to manage their tax obligations effectively.
Average Alum Creek Tax Bill
$460
Average Lincoln County Tax Bill
$343
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Alum Creek, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25003 | $91 | $233 | $460 | $779 | $1,142 |
Source: Ownwell