Mount Nebo, West Virginia Property Taxes
The median property tax rate in Mount Nebo, WV is 0.59%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Mount Nebo at $59,400, the typical annual property tax bill is $334, well below the national median of $2,690. Property taxes in Mount Nebo are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Mount Nebo'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 Mount Nebo or another part of Nicholas County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Nebo, West Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,440
Ownwell’s Mount Nebo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Nebo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Nebo 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 Mount Nebo, West Virginia
Property taxes in Mount Nebo, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Nebo is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Mount Nebo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Nebo 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 Mount Nebo's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26679 has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these areas compare with Mount Nebo provides valuable insights into the varying tax landscape across Nicholas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Nebo Tax Rate
0.59%
Average Nicholas County Tax Rate
0.59%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Nebo, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26679 | 0.28% | 0.48% | 0.59% | 0.59% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Mount Nebo, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mount Nebo, West Virginia. 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 Nicholas 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 Mount Nebo, 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. For example, the median home price in Mount Nebo is $59,400, with tax bills ranging from $163 at the 25th percentile to $854 at the 90th percentile. The zip code with the highest median tax bill is 26679, at $334, which is also the lowest median tax bill in the area. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mount Nebo Assessed Value
$59,400
Average Nicholas County Assessed Value
$56,300
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Nebo, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26679 | $12,400 | $30,200 | $59,400 | $95,200 | $142,720 |
Source: Ownwell
Property Tax Bills Across Mount Nebo, West Virginia
In Mount Nebo, located in Nicholas County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is a percentage of the market value of the property. Homeowners in Mount Nebo can expect their tax bills to vary widely, with the 25th percentile at $163 and the 75th percentile reaching $560. The 90th percentile tax bill can go up to $854. The median home price in Mount Nebo is $59,400. Compared to the national median property tax rate of 0.99%, homeowners in this area might find their tax bills relatively manageable. Factors such as property size, location, and improvements can influence the assessed value, ultimately affecting the tax bill. These property taxes play a crucial role in funding local services, schools, and infrastructure, impacting the quality of community resources available to homeowners.
Average Mount Nebo Tax Bill
$334
Average Nicholas County Tax Bill
$332
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Nebo, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26679 | $79 | $163 | $334 | $560 | $854 |
Source: Ownwell