Kegley, Mercer County, West Virginia Property Taxes
The median property tax rate in Kegley, WV is 0.68%, which is notably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $58,850, the typical annual property tax bill in Kegley amounts to $342, significantly below the national median of $2,690. Property taxes in Kegley are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Kegley'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 Kegley or another part of Mercer County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kegley, Mercer County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$400
$371
Ownwell’s Kegley Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Kegley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kegley 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 Mercer County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Kegley, Mercer County, West Virginia
Property taxes in Kegley, 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 Kegley is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Kegley set these rates annually, and they can vary across different neighborhoods. Each year, Kegley 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 Kegley's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 24731 has the highest median property tax rate of 0.68%, while the same zip code 24731 also has the lowest median tax rate of 0.68%. Understanding how these cities compare with Kegley provides valuable insights into the varying tax landscape across Mercer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kegley Tax Rate
0.68%
Average Mercer County Tax Rate
0.68%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kegley, Mercer County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24731 | 0.26% | 0.53% | 0.68% | 0.68% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Kegley, Mercer County, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Kegley, 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 Mercer 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 Kegley, 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. The median home price in Kegley is $58,850, with tax bills ranging from $195 at the 25th percentile to $1,200 at the 90th percentile. The highest and lowest median tax bills are both in the zip code 24731, each at $342. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Kegley, Mercer County, West Virginia
Source: Ownwell
$16,100
$54,500
$92,900
Average Kegley Assessed Value
$58,850
Average Mercer County Assessed Value
$60,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kegley, Mercer County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24731 | $18,850 | $35,000 | $58,850 | $85,625 | $161,180 |
Source: Ownwell
Property Tax Bills Across Kegley, Mercer County, West Virginia
In Kegley, Mercer County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The county assessor determines this value, and local tax rates are applied to it. Homeowners in Kegley experience a range of tax bills, with the 25th percentile at $195 and the 75th percentile at $588. For those in the 90th percentile, the tax bill can reach up to $1,200. Factors such as property size, location, and any improvements made to the property significantly impact the assessed value. These factors, combined with the local tax rate, determine the final tax bill. The median tax bill in the area is $342, which is lower than the national median property tax rate of 0.99%. This relatively lower tax burden can be beneficial for homeowners, making Kegley an attractive place for property investment and long-term residence.
Average Kegley Tax Bill
$342
Average Mercer County Tax Bill
$442
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Kegley, Mercer County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24731 | $80 | $195 | $342 | $588 | $1,200 |
Source: Ownwell