Greenville, West Virginia Property Taxes
The median property tax rate in Greenville, WV is 0.63%, considerably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Greenville, the typical annual property tax bill reaches $440, significantly less than the national median of $2,690. Property taxes in Greenville 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 Greenville'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 Greenville 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
Greenville, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$492
Ownwell’s Greenville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenville 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 Greenville, West Virginia
Property taxes in Greenville, 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 Greenville is 0.63%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Greenville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenville 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 Greenville's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 24945 has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these areas compare with Greenville 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 Greenville 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 Greenville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24945 | 0.36% | 0.48% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Greenville, West Virginia
In Greenville, 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 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. 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 Greenville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Greenville is $78,100, with the median tax bill ranging from $238 at the 25th percentile to $1,151 at the 90th percentile. The zip code 24945 has the highest and lowest median tax bill at $440.
Average Greenville Assessed Value
$78,100
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 Greenville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24945 | $21,960 | $50,500 | $78,100 | $123,600 | $189,660 |
Source: Ownwell
Property Tax Bills Across Greenville, West Virginia
Property tax bills in Greenville, Monroe County, WV, are calculated based on the assessed value of a property, which is determined by local tax assessors. The assessed value typically reflects a percentage of the property's market value. For instance, the median home price in Greenville is $78,100. To determine the tax bill, this assessed value is multiplied by the local property tax rate. The median property tax rate in Greenville is notably lower than the national median of 0.99%. Consequently, homeowners in Greenville experience relatively modest property tax bills. For example, the 25th percentile tax bill is $238, while the 75th percentile tax bill is $705, and the 90th percentile tax bill reaches $1,151. These tax bills directly impact homeowners by influencing their annual financial obligations. Lower property taxes can make homeownership more affordable, while higher property taxes could strain budgets. Understanding these factors is crucial for homeowners and potential buyers when considering property investments in Greenville.
Average Greenville Tax Bill
$440
Average Monroe County Tax Bill
$436
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24945 | $126 | $238 | $440 | $705 | $1,151 |
Source: Ownwell