Mallory, West Virginia Property Taxes
The median property tax rate in Mallory, WV is 0.75%, slightly higher than the West Virginia state median of 0.72% but still below the national median of 0.99%. With a median home value of $28,800 in Mallory, the typical annual property tax bill is $209, significantly lower than the national median of $2,690. Property taxes in Mallory are based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Mallory'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 Mallory or another part of the city, grasping the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Mallory, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$216
Ownwell’s Mallory Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mallory with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mallory 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 Mallory, West Virginia
Property taxes in Mallory, West Virginia, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Mallory 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 Mallory set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mallory 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 Mallory's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25634 has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with Mallory provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mallory 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 Mallory, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25634 | 0.26% | 0.54% | 0.75% | 0.75% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Mallory, West Virginia
In Mallory, 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 Logan County 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 Mallory, 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 Mallory helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 25634, with a median bill of $209, which is significantly lower than the national median property tax rate of 0.99%.
Average Mallory Assessed Value
$28,800
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 Mallory, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25634 | $10,710 | $17,400 | $28,800 | $52,050 | $70,630 |
Source: Ownwell
Property Tax Bills Across Mallory, West Virginia
In Mallory, located in Logan County, WV, property tax bills are calculated based on the assessed value of a home. The local assessor determines this value, which is often a percentage of the property's market value. Homeowners in Mallory face a median home price of $28,800, and property tax rates are applied to this assessed value to determine the annual tax bill. For instance, the tax bill at the 25th percentile is $129, while it rises to $358 at the 75th percentile and $543 at the 90th percentile. These figures illustrate the range of property tax burdens homeowners may experience. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. The impact on homeowners is significant, as property taxes contribute to essential public services such as schools, roads, and emergency services. Compared to the national median property tax rate of 0.99%, the property tax rates in Mallory can provide a relatively affordable option for homeowners, though the exact rate may vary based on individual circumstances.
Average Mallory Tax Bill
$209
Average Logan County Tax Bill
$306
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Mallory, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25634 | $69 | $129 | $209 | $358 | $543 |
Source: Ownwell