Westover, West Virginia Property Taxes
The median property tax rate in Westover, WV is 1.58%, 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 Westover at $23,300, the typical annual property tax bill reaches $797, which is still below the national median of $2,690. Property taxes in Westover are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Westover'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 Westover or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Westover, 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 Westover Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westover with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westover 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 Westover, West Virginia
Property taxes in Westover, 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 Westover is 1.58%, significantly higher than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Westover set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westover 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 Westover's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26501 zip code has the highest median property tax rate of 1.58%, while the same zip code also has the lowest median tax rate of 1.58%. Understanding how these cities compare with Westover 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 Westover Tax Rate
1.58%
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 Westover, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26501 | 0.79% | 1.39% | 1.58% | 1.58% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Westover, West Virginia
In Westover, 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 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. 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 Westover 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 26501, with a median bill of $797.00, which is also the lowest median tax bill in the area.
Average Westover Assessed Value
$23,300
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 Westover, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26501 | $7,440 | $11,900 | $23,300 | $124,300 | $154,060 |
Source: Ownwell
Property Tax Bills Across Westover, West Virginia
In Westover, property tax bills are calculated based on the assessed value of a home, which is determined by the Monongalia County Assessor's office. The assessed value is a percentage of the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and any improvements made. For example, a median home price in Westover is $23,300, and property tax bills can vary significantly. Homeowners in the 25th percentile pay around $188, while those in the 75th percentile see bills close to $1,352. At the 90th percentile, the tax bill can be as high as $2,054. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Westover provides a relatively affordable option for homeowners.
Average Westover Tax Bill
$797
Average Monongalia County Tax Bill
$1,138
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Westover, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26501 | $149 | $188 | $797 | $1,352 | $2,054 |
Source: Ownwell