Osage, West Virginia Property Taxes
The median property tax rate in Osage, WV is 1.25%, considerably higher than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Osage, the typical annual property tax bill reaches $403, which, while lower than the national median of $2,690, can still be a significant expense for homeowners. Property taxes in Osage are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Osage'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 Osage or another part of Monongalia County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Osage, 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 Osage Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Osage with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Osage to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Osage, West Virginia
Property taxes in Osage, 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 Osage is 0.69%, significantly lower than both the West Virginia state median of 0.57% and the U.S. national median of 0.99%. Local government entities within Osage set these rates annually, and they can vary significantly across different neighborhoods. Each year, Osage 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 Osage's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26543 has the highest median property tax rate of 0.69%, while the same zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Osage provides valuable insights into the varying tax landscape across Monongalia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Osage Tax Rate
1.25%
Average Monongalia County Tax Rate
0.64%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Osage, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26543 | 0.30% | 0.64% | 1.25% | 1.28% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Osage, West Virginia
In Osage, 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 Monongalia 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 Osage, 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 Osage 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 26543, with a value of $403.00.
Average Osage Assessed Value
$53,700
Average Monongalia County Assessed Value
$146,600
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Osage, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26543 | $18,310 | $35,325 | $53,700 | $63,375 | $94,720 |
Source: Ownwell
Property Tax Bills Across Osage, West Virginia
In Osage, Monongalia County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Osage typically experience property tax rates that align closely with the national median of 0.99%. The median home price in the area is $53,700, influencing the overall tax bill significantly. For instance, the 25th percentile tax bill stands at $208, while the 75th percentile reaches $684, and the 90th percentile hits $951. The assessed value is determined by local tax assessors who consider factors such as the property's location, size, and condition. These assessments are then multiplied by the local tax rate to generate the annual tax bill. Homeowners with properties in the highest median tax bill category encounter bills around $403, which is consistent across certain zip codes in Monongalia County. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Osage Tax Bill
$403
Average Monongalia County Tax Bill
$1,138
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Osage, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26543 | $122 | $208 | $403 | $684 | $951 |
Source: Ownwell