Wiley Ford, West Virginia Property Taxes
The median property tax rate in Wiley Ford, WV is 0.72%, matching the state median but lower than the national median of 0.99%. With a median home value of $67,300 in Wiley Ford, the typical annual property tax bill amounts to $493, significantly less than the national median of $2,690. Property taxes in Wiley Ford are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Wiley Ford'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 Wiley Ford or another part of Mineral County, grasping the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Wiley Ford, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$485
Ownwell’s Wiley Ford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wiley Ford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wiley Ford 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 Wiley Ford, West Virginia
Property taxes in Wiley Ford, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wiley Ford is 0.72%, lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Wiley Ford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wiley Ford 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 Wiley Ford's effective property tax rate to other areas in West Virginia and the national median. For comparison, the ZIP code 26767 has both the highest and lowest median property tax rate in the county, at 0.72%. Understanding how these areas compare with Wiley Ford provides valuable insights into the varying tax landscape across Mineral County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wiley Ford Tax Rate
0.72%
Average Mineral County Tax Rate
0.72%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wiley Ford, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26767 | 0.41% | 0.56% | 0.72% | 0.72% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Wiley Ford, West Virginia
In Wiley Ford, 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 Mineral 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 Wiley Ford, 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 Wiley Ford 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 26767, with a tax bill of $493.00, which is also the lowest median tax bill in the region.
Property Tax Assessment Values Across Wiley Ford, West Virginia
Source: Ownwell
$28,200
$78,150
$128,100
Average Wiley Ford Assessed Value
$67,300
Average Mineral County Assessed Value
$84,700
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wiley Ford, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26767 | $14,160 | $35,400 | $67,300 | $111,225 | $176,190 |
Source: Ownwell
Property Tax Bills Across Wiley Ford, West Virginia
In Wiley Ford, Mineral County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Wiley Ford is $67,300. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $266 and the 75th percentile tax bill at $809. For those at the higher end, the 90th percentile tax bill reaches $1,265. These tax bills are influenced by several factors, including the assessed value of the property, local tax rates, and any applicable exemptions. Homeowners in Wiley Ford face tax rates that can be compared to the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners as they directly impact annual expenses and long-term financial planning. Accurate assessments ensure fair taxation, helping to fund essential local services such as schools, infrastructure, and emergency services, thereby contributing to the community’s overall well-being.
Average Wiley Ford Tax Bill
$493
Average Mineral County Tax Bill
$634
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Wiley Ford, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26767 | $103 | $266 | $493 | $809 | $1,265 |
Source: Ownwell