Nemours, West Virginia Property Taxes
The median property tax rate in Nemours, WV is 0.68%, 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 Nemours at $51,900, the typical annual property tax bill is $322, significantly below the national median of $2,690. Property taxes in Nemours are calculated based on the assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Nemours' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Nemours or another part of Mercer County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nemours, 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 Nemours Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nemours with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nemours 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 Nemours, West Virginia
Property taxes in Nemours, 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 Nemours is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Nemours set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nemours 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 Nemours' effective property tax rate to other areas in Mercer County and the national median. For comparison, the zip code 24738 has both the highest and lowest median property tax rate of 0.68%. Understanding how these areas compare with Nemours 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 Nemours 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 Nemours, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24738 | 0.28% | 0.49% | 0.68% | 0.68% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Nemours, West Virginia
In Nemours, 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 Mercer 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 Nemours, 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 Nemours helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $322 in the 24738 zip code, while the lowest is also $322 in the same zip code.
Average Nemours Assessed Value
$51,900
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 Nemours, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24738 | $24,940 | $38,200 | $51,900 | $55,650 | $60,020 |
Source: Ownwell
Property Tax Bills Across Nemours, West Virginia
In Nemours, Mercer County, WV, property tax bills are calculated based on the assessed value of the property, which is determined by local government assessors. The assessed value is a percentage of the property's market value. Homeowners in Nemours can expect their property tax rate to align closely with the national median of 0.99%. Several factors influence the final tax bill, including the property's location, size, and any improvements made. For instance, the median home price in Nemours is $51,900, leading to varying tax bills. At the 25th percentile, homeowners might pay around $153, while those at the 75th percentile could see bills of approximately $385. The highest median tax bill recorded in the area is $322, which is consistent across different zip codes in Mercer County. Understanding these factors is crucial for homeowners, as property taxes directly impact annual budgeting and financial planning. Higher property values or improvements can lead to increased tax bills, emphasizing the importance of accurate property assessments.
Average Nemours Tax Bill
$322
Average Mercer County Tax Bill
$442
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Nemours, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24738 | $129 | $153 | $322 | $385 | $419 |
Source: Ownwell