Whitman, West Virginia Property Taxes
The median property tax rate in Whitman, WV is 0.75%, slightly higher than the West Virginia state median of 0.72% but lower than the national median of 0.99%. With a median home value of $48,000 in Whitman, the typical annual property tax bill is $347, significantly below the national median of $2,690. Property taxes in Whitman are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Whitman’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 Whitman 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
Whitman, 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 Whitman Property Tax Bill Calculator assists homeowners, real estate investors, and prospective buyers in estimating their annual property taxes in Whitman with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Whitman to estimate your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the figure assigned by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Whitman, West Virginia
Property taxes in Whitman, 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 Whitman is 0.55%, significantly lower than both the West Virginia state median of 0.58% and the U.S. national median of 0.99%. Local government entities within Whitman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitman 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 Whitman's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25652 zip code has both the highest and lowest median property tax rate of 0.55%. Understanding how these cities compare with Whitman 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 Whitman 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 Whitman, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25652 | 0.52% | 0.59% | 0.75% | 0.75% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Whitman, West Virginia
In Whitman, 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 Assessor's Office 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 Whitman, 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 Whitman 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 bills is 25652, both standing at $347.
Average Whitman Assessed Value
$48,000
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 Whitman, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25652 | $21,500 | $28,300 | $48,000 | $78,000 | $113,800 |
Source: Ownwell
Property Tax Bills Across Whitman, West Virginia
In Whitman, located in Logan County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $48,000, homeowners in Whitman can expect varying tax bills. The 25th percentile tax bill is around $318, while the 75th percentile reaches up to $535, and the 90th percentile can be as high as $609. These figures are relatively modest compared to the national median property tax rate of 0.99%. Factors influencing these tax bills include property size, location, and any applicable exemptions. For homeowners, understanding these factors is crucial as they directly impact the affordability and financial planning associated with homeownership in Whitman. Comparing these values to the highest and lowest median tax bills in the region, both at $347 in zip code 25652, provides additional context for residents.
Average Whitman Tax Bill
$347
Average Logan County Tax Bill
$306
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Whitman, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25652 | $210 | $318 | $347 | $535 | $609 |
Source: Ownwell