Culloden, Lincoln County, West Virginia Property Taxes
The median property tax rate in Culloden, WV is 0.75%, which is lower than the national median of 0.99% but slightly higher than the West Virginia state median of 0.72%. With a median home value of $88,000 in Culloden, the typical annual property tax bill amounts to $457, significantly less than the national median of $2,690. Property taxes in Culloden are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Culloden'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 Culloden or another part of Lincoln County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Culloden, Lincoln County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$660
$612
Ownwell’s Culloden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Culloden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Culloden 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 Culloden, Lincoln County, West Virginia
Property taxes in Culloden, 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 Culloden is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Culloden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Culloden 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 Culloden's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 25510 has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Culloden 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 Culloden 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 Culloden, Lincoln County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25510 | 0.42% | 0.48% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Culloden, Lincoln County, West Virginia
In Culloden, 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 Culloden, 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 Culloden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in the area is 25510, with a median tax bill of $457.
Property Tax Assessment Values Across Culloden, Lincoln County, West Virginia
Source: Ownwell
$38,400
$63,200
$88,000
Average Culloden Assessed Value
$88,000
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 Culloden, Lincoln County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25510 | $32,240 | $51,775 | $88,000 | $108,300 | $161,580 |
Source: Ownwell
Property Tax Bills Across Culloden, Lincoln County, West Virginia
In Culloden, property tax bills are calculated based on the assessed value of a home, which is determined by the Lincoln County Assessor's Office. The assessed value is typically a percentage of the property's market value. Homeowners in Culloden can expect their tax bills to vary significantly, with the 25th percentile at $305 and the 75th percentile reaching $696. The highest median tax bill in the area stands at $457, a figure that aligns with the lowest median tax bill, indicating a consistent tax rate across different properties. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Culloden's tax rates may offer some relief to homeowners. Understanding these calculations is crucial for homeowners as property taxes can significantly impact annual expenses and overall affordability of homeownership in the region.
Average Culloden Tax Bill
$457
Average Lincoln County Tax Bill
$343
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Culloden, Lincoln County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25510 | $194 | $305 | $457 | $696 | $1,070 |
Source: Ownwell