Paw Paw, Morgan County, West Virginia Property Taxes
The median property tax rate in Paw Paw, WV is 0.71%, lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Paw Paw at $73,300, the typical annual property tax bill is $512, which is significantly below the national median of $2,690. Property taxes in Paw Paw are calculated based on the tax assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Paw Paw'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 Paw Paw or another part of Morgan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paw Paw, Morgan County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$520
$483
Ownwell’s Paw Paw Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paw Paw with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paw Paw 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 Paw Paw, Morgan County, West Virginia
Property taxes in Paw Paw, West Virginia, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Paw Paw is 0.71%, lower than the U.S. national median of 0.99%. Local government entities within Paw Paw set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paw Paw 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 Paw Paw's effective property tax rate to other areas and the national median. For comparison, the 25434 zip code has the highest median property tax rate of 0.71%, while the lowest median tax rate is also 0.71% in the same 25434 zip code. Understanding how these rates compare with Paw Paw provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paw Paw Tax Rate
0.71%
Average Morgan County Tax Rate
0.60%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paw Paw, Morgan County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25434 | 0.40% | 0.60% | 0.71% | 1.20% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Paw Paw, Morgan County, West Virginia
In Paw Paw, 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 local appraisal district 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 Paw Paw, 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. The median home price in Paw Paw is $73,300, with tax bills ranging from $314 at the 25th percentile to $1,175 at the 90th percentile. 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 Paw Paw helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Paw Paw, Morgan County, West Virginia
Source: Ownwell
$73,300
$114,850
$156,400
Average Paw Paw Assessed Value
$73,300
Average Morgan County Assessed Value
$139,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Paw Paw, Morgan County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25434 | $21,600 | $43,950 | $73,300 | $101,600 | $171,600 |
Source: Ownwell
Property Tax Bills Across Paw Paw, Morgan County, West Virginia
In Paw Paw, WV, property tax bills are determined based on the assessed value of a home, which is derived from its market value. The median home price in Paw Paw is $73,300. Property taxes are calculated by applying the local tax rate to the assessed value of the property. Homeowners in this area can expect a tax bill that typically falls between $314 at the 25th percentile and $724 at the 75th percentile, with the 90th percentile reaching up to $1,175. Several factors influence the final tax bill, including the property's location within Morgan County, any applicable exemptions, and the specific tax rates set by local authorities. These rates are crucial as they directly impact the amount homeowners need to pay annually. With a national median property tax rate of 0.99%, Paw Paw homeowners might find their tax bills relatively manageable. Understanding these components can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Paw Paw Tax Bill
$512
Average Morgan County Tax Bill
$866
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Paw Paw, Morgan County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25434 | $160 | $314 | $512 | $724 | $1,175 |
Source: Ownwell