Spurlockville, West Virginia Property Taxes
The median property tax rate in Spurlockville, WV is 0.75%, which is lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Spurlockville, the typical annual property tax bill reaches $285, significantly below the national median of $2,690. Property taxes in Spurlockville 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 Spurlockville'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 Spurlockville 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
Spurlockville, 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 Spurlockville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spurlockville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spurlockville 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 Spurlockville, West Virginia
Property taxes in Spurlockville, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spurlockville 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 Spurlockville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spurlockville 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 Spurlockville's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25565 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 Spurlockville 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 Spurlockville 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 Spurlockville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25565 | 0.46% | 0.75% | 0.75% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Spurlockville, West Virginia
In Spurlockville, 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. 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 Spurlockville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $285 in the 25565 zip code, while the lowest is also $285 in the same zip code.
Property Tax Assessment Values Across Spurlockville, West Virginia
Source: Ownwell
$38,400
$63,200
$88,000
Average Spurlockville Assessed Value
$38,400
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 Spurlockville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25565 | $9,640 | $20,600 | $38,400 | $54,800 | $89,900 |
Source: Ownwell
Property Tax Bills Across Spurlockville, West Virginia
In Spurlockville, Lincoln County, WV, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects a percentage of the market value of the property. Homeowners in Spurlockville can expect their property tax bills to vary significantly, influenced by factors such as property size, location, and improvements. For instance, the median home price in Spurlockville is $38,400. Property tax bills in this area range widely, with the 25th percentile tax bill at $153 and the 75th percentile tax bill at $475. At the higher end, the 90th percentile tax bill reaches $684. The median tax bill stands at $285, which is relatively low compared to the national median property tax rate of 0.99%. These property tax bills directly impact homeowners by contributing to local services such as education, infrastructure, and emergency services. Understanding how these bills are calculated helps homeowners plan their finances and anticipate annual property tax obligations.
Average Spurlockville Tax Bill
$285
Average Lincoln County Tax Bill
$343
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Spurlockville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25565 | $92 | $153 | $285 | $475 | $684 |
Source: Ownwell