Tioga, West Virginia Property Taxes
The median property tax rate in Tioga, WV is 0.59%, 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 Tioga at $46,200, the typical annual property tax bill is $266, significantly below the national median of $2,690. Property taxes in Tioga 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 Tioga'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 Tioga 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
Tioga, 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 Tioga Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tioga with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tioga 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 Tioga, West Virginia
Property taxes in Tioga, 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 Tioga is 0.54%, significantly lower than both the West Virginia state median of 0.55% and the U.S. national median of 0.99%. Local government entities within Tioga set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tioga 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 Tioga's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26691 zip code has the highest median property tax rate of 0.54%, while the same zip code also has the lowest median tax rate of 0.54%. Understanding how these cities compare with Tioga 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 Tioga 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 Tioga, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26691 | 0.23% | 0.40% | 0.59% | 0.59% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Tioga, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Tioga, 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 Tioga, 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 Tioga is $46,200, with tax bills ranging from $130 at the 25th percentile to $703 at the 90th percentile. The highest and lowest median tax bills in the area are both $266, found in the 26691 zip code. 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 Tioga Assessed Value
$46,200
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 Tioga, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26691 | $4,280 | $26,400 | $46,200 | $80,000 | $116,220 |
Source: Ownwell
Property Tax Bills Across Tioga, West Virginia
In Tioga, property tax bills are calculated based on the assessed value of the property, which is determined by the county. The median home price in Tioga is $46,200, and the tax rate is applied to this assessed value to determine the annual tax bill. Factors such as the property's location, size, and improvements can influence its assessed value. For homeowners in Tioga, property tax bills can vary significantly. For example, the 25th percentile tax bill is $130, while the 75th percentile tax bill is $486, and the 90th percentile tax bill reaches $703. These tax bills are relatively low compared to the national median property tax rate of 0.99%. The highest and lowest median tax bills in the area are both $266, indicating some consistency in the region. Understanding these factors can help homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Tioga Tax Bill
$266
Average Nicholas County Tax Bill
$332
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Tioga, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26691 | $64 | $130 | $266 | $486 | $703 |
Source: Ownwell