Alderson, Monroe County, West Virginia Property Taxes
The median property tax rate in Alderson, WV is 0.63%, notably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $63,900 in Alderson, the typical annual property tax bill amounts to $408, which is significantly below the national median of $2,690. Property taxes in Alderson are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Alderson'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 Alderson or another part of Monroe County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alderson, Monroe County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$403
$374
Ownwell’s Alderson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alderson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alderson 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 Alderson, Monroe County, West Virginia
Property taxes in Alderson, 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 Alderson is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Alderson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alderson 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 Alderson's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 24910 has both the highest and lowest median property tax rate of 0.63%, reflecting uniformity in tax rates within this region. Understanding how these areas compare with Alderson provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alderson Tax Rate
0.63%
Average Monroe County Tax Rate
0.63%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alderson, Monroe County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24910 | 0.38% | 0.63% | 0.63% | 0.64% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Alderson, Monroe County, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Alderson, WV. 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 Monroe 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 Alderson, 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 Alderson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $408 in the 24910 zip code, illustrating the potential variability in tax burdens within the region.
Property Tax Assessment Values Across Alderson, Monroe County, West Virginia
Source: Ownwell
$50,300
$71,450
$92,600
Average Alderson Assessed Value
$63,900
Average Monroe County Assessed Value
$74,100
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alderson, Monroe County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24910 | $19,040 | $41,850 | $63,900 | $98,000 | $145,660 |
Source: Ownwell
Property Tax Bills Across Alderson, Monroe County, West Virginia
In Alderson, located in Monroe County, WV, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, determined by local assessors. Homeowners in Alderson experience property tax bills that vary significantly, reflecting the diverse range of home values in the area. The median home price in Alderson is $63,900. Tax bills in the 25th percentile are around $255, while those in the 75th percentile reach approximately $669. For homeowners at the 90th percentile, tax bills can be as high as $937. These figures indicate a range of tax burdens, influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Alderson's tax bills can be relatively modest, providing some relief for homeowners. However, understanding the assessed value and the local tax rate is crucial for budgeting and financial planning.
Average Alderson Tax Bill
$408
Average Monroe County Tax Bill
$436
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Alderson, Monroe County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24910 | $121 | $255 | $408 | $669 | $937 |
Source: Ownwell