Cora, Logan County, West Virginia Property Taxes
The median property tax rate in CORA, 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 the median home value in CORA at $26,750, the typical annual property tax bill is $233, significantly below the national median of $2,690. Property taxes in CORA are calculated based on the tax assessed value, which often falls below market value due to various exemptions like the primary residence and agricultural exemptions. Understanding CORA'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 CORA 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
Cora, Logan County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$201
$186
Ownwell’s CORA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CORA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CORA 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 Cora, Logan County, West Virginia
Property taxes in CORA, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in CORA 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 CORA set these rates annually, and they can vary significantly across different neighborhoods. Each year, CORA 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. Understanding how CORA's effective property tax rate compares to other regions in Logan County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cora Tax Rate
0.75%
Average Logan County Tax Rate
0.75%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cora, Logan County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25614 | 0.36% | 0.75% | 0.75% | 1.51% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Cora, Logan County, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in CORA, West Virginia. 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 local appraisal district 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 CORA, 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 CORA is $26,750, with tax bills ranging from $138 at the 25th percentile to $406 at the 90th percentile. Being aware of these valuation processes in CORA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Cora, Logan County, West Virginia
Source: Ownwell
$24,700
$44,500
$64,300
Average Cora Assessed Value
$26,750
Average Logan County Assessed Value
$40,900
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cora, Logan County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25614 | $9,080 | $15,425 | $26,750 | $33,250 | $51,220 |
Source: Ownwell
Property Tax Bills Across Cora, Logan County, West Virginia
In CORA, property tax bills are calculated based on the assessed value of a home, which is determined by the local property assessor. The assessed value is a percentage of the market value of the property. Factors such as location, property size, and home improvements are considered in this assessment. For homeowners in CORA, the median home price is $26,750. With property tax rates in Logan County, the tax bill for a typical homeowner can vary significantly. At the 25th percentile, the tax bill is approximately $138, while at the 75th percentile, it rises to $385. For those at the 90th percentile, the tax bill can be as high as $406. Comparatively, the national median property tax rate is 0.99%, making CORA's rates relatively moderate. Understanding these factors can help homeowners in CORA better anticipate their annual property tax obligations and manage their finances accordingly.
Average Cora Tax Bill
$233
Average Logan County Tax Bill
$306
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Cora, Logan County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25614 | $36 | $138 | $233 | $385 | $406 |
Source: Ownwell