Rock, West Virginia Property Taxes
The median property tax rate in Rock, WV is 0.68%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Rock at $43,800, the typical annual property tax bill is $273, which is well below the national median of $2,690. Property taxes in Rock are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Rock'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 Rock 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
Rock, 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 ROCK Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ROCK with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ROCK 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 Rock, West Virginia
Property taxes in ROCK, West Virginia, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in ROCK is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within ROCK set these rates annually, and they can vary significantly across different neighborhoods. Each year, ROCK 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 ROCK's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 24747 zip code has the highest median property tax rate of 0.68%, while the 24747 zip code also has the lowest median tax rate of 0.68%. Understanding how these areas compare with ROCK 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 Rock 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 Rock, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24747 | 0.28% | 0.54% | 0.68% | 0.68% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Rock, West Virginia
In ROCK, 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 local 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 ROCK, 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 ROCK helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the region is $273.00 in the 24747 zip code, while the lowest median tax bill is also $273.00 in the same zip code.
Average Rock Assessed Value
$43,800
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 Rock, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24747 | $4,740 | $17,000 | $43,800 | $78,500 | $119,500 |
Source: Ownwell
Property Tax Bills Across Rock, West Virginia
In ROCK, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements or renovations made to the property. For homeowners in ROCK, the median home price is $43,800. Property tax bills can vary significantly, with the 25th percentile tax bill at $114, the 75th percentile at $531, and the 90th percentile reaching $868. These variations highlight the impact of assessed value and tax rates on individual tax bills. Compared to the national median property tax rate of 0.99%, homeowners in ROCK may find their tax bills relatively manageable. However, understanding how these factors interplay is crucial for homeowners to anticipate their annual property tax obligations accurately. This knowledge helps in budgeting and financial planning, ensuring that homeowners are prepared for their tax responsibilities.
Average Rock Tax Bill
$273
Average Mercer County Tax Bill
$442
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Rock, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24747 | $57 | $114 | $273 | $531 | $868 |
Source: Ownwell