Lindside, Monroe County, West Virginia Property Taxes
The median property tax rate in Lindside, WV is 0.63%, which is 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 $81,600 in Lindside, the typical annual property tax bill amounts to $460, significantly below the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often less than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Lindside'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 Lindside or another part of Monroe County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lindside, 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
$514
$477
Ownwell’s Lindside Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lindside with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lindside 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 Lindside, Monroe County, West Virginia
Property taxes in Lindside, 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 Lindside is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Lindside set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lindside 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 Lindside's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 24951 zip code has both the highest and lowest median property tax rate of 0.63%. Understanding how these areas compare with Lindside 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 Lindside 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 Lindside, Monroe County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24951 | 0.36% | 0.48% | 0.63% | 0.63% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Lindside, Monroe County, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lindside, 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 Lindside, 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 Lindside helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 24951 has the highest and lowest median tax bill at $460.
Property Tax Assessment Values Across Lindside, Monroe County, West Virginia
Source: Ownwell
$50,300
$71,450
$92,600
Average Lindside Assessed Value
$81,600
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 Lindside, Monroe County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24951 | $23,400 | $48,100 | $81,600 | $125,900 | $183,800 |
Source: Ownwell
Property Tax Bills Across Lindside, Monroe County, West Virginia
In Lindside, property tax bills are calculated based on the assessed value of a home, which is determined by the Monroe County Assessor's Office. The assessed value is a percentage of the market value, reflecting what the property might sell for under current market conditions. Once the assessed value is determined, the local tax rate is applied to calculate the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and any improvements made. Homeowners in Lindside see a range of property tax bills, with the 25th percentile at $258 and the 75th percentile at $748, indicating a significant variation depending on individual property characteristics. The highest median tax bill recorded in the area is $460, which is notably lower than the national median property tax rate of 0.99%. This lower tax burden can be beneficial for homeowners, making Lindside an attractive place for property investment. However, it’s essential to stay informed about how local assessments and tax rates might change over time.
Average Lindside Tax Bill
$460
Average Monroe County Tax Bill
$436
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Lindside, Monroe County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24951 | $107 | $258 | $460 | $748 | $1,098 |
Source: Ownwell