Secondcreek, West Virginia Property Taxes
The median property tax rate in Secondcreek, WV is 0.63%, which is lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Secondcreek at $78,000, the typical annual property tax bill is $466, significantly below the national median of $2,690. Property taxes in Secondcreek are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Secondcreek'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 Secondcreek 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
Secondcreek, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$491
Ownwell’s SECONDCREEK Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SECONDCREEK with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SECONDCREEK 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 Secondcreek, West Virginia
Property taxes in Secondcreek, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Secondcreek is 0.63%, significantly lower than the U.S. national median of 0.99%. Local government entities within Secondcreek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Secondcreek 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 Secondcreek's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 24974 zip code has both the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Secondcreek 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 Secondcreek 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 Secondcreek, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24974 | 0.36% | 0.47% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Secondcreek, West Virginia
In Secondcreek, 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. In Secondcreek, 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. For instance, the median home price in Secondcreek is $78,000, with tax bills ranging from $198 at the 25th percentile to $968 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Secondcreek, West Virginia
Source: Ownwell
$37,600
$67,550
$97,500
Average Secondcreek Assessed Value
$78,000
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 Secondcreek, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24974 | $13,400 | $34,200 | $78,000 | $127,100 | $148,200 |
Source: Ownwell
Property Tax Bills Across Secondcreek, West Virginia
In Secondcreek, Monroe County, WV, property tax bills are determined by assessing the market value of a property and applying the local tax rate. The assessed value, which is a percentage of the market value, serves as the basis for the tax calculation. Homeowners in Secondcreek can expect their property tax bills to vary significantly based on the assessed value of their homes. For instance, the 25th percentile tax bill is around $198, indicating that lower-valued properties incur relatively modest taxes. On the other hand, properties at the 75th and 90th percentiles face tax bills of approximately $720 and $968, respectively. These tax bills are influenced by several factors, including property size, location, and market conditions. Compared to the national median property tax rate of 0.99%, the tax rates in Secondcreek are relatively moderate. However, the financial impact on homeowners can still be substantial, particularly for those with higher-valued properties. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Secondcreek Tax Bill
$466
Average Monroe County Tax Bill
$436
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Secondcreek, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24974 | $31 | $198 | $466 | $720 | $968 |
Source: Ownwell