Eglon, West Virginia Property Taxes
The median property tax rate in Eglon, WV is 0.64%, 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 Eglon at $95,050, the typical annual property tax bill amounts to $534, well below the national median of $2,690. Property taxes in Eglon are calculated based on the assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Eglon'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 Eglon or another part of Preston County, grasping the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Eglon, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$608
Ownwell’s Eglon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eglon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eglon 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 Eglon, West Virginia
Property taxes in Eglon, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eglon is 0.64%, lower than the U.S. national median of 0.99%. Local government entities within Eglon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eglon 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 Eglon's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26716 zip code has both the highest and lowest median property tax rate of 0.64%. Understanding how these areas compare with Eglon provides valuable insights into the varying tax landscape across Preston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eglon Tax Rate
0.64%
Average Preston County Tax Rate
0.64%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eglon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26716 | 0.32% | 0.45% | 0.64% | 0.64% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Eglon, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Eglon, 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 Preston 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 Eglon, 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. The median home price in Eglon is $95,050. The zip code with the highest median tax bill is 26716, with a tax bill of $534. By being aware of these valuation processes, property owners in Eglon can identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Eglon Assessed Value
$95,050
Average Preston County Assessed Value
$68,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eglon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26716 | $30,050 | $62,575 | $95,050 | $131,100 | $171,750 |
Source: Ownwell
Property Tax Bills Across Eglon, West Virginia
In Eglon, Preston County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the property's market value. Homeowners in Eglon can expect their tax bills to vary significantly depending on their property's assessed value and the local tax rate. For instance, the tax bill for the 25th percentile is around $325, while it rises to approximately $765 for the 75th percentile. For those in the 90th percentile, the tax bill can reach up to $1,085. This variation illustrates how different factors, such as property size, location, and market conditions, influence the final tax bill. Compared to the national median property tax rate of 0.99%, Eglon's property tax rates can be seen as relatively moderate. However, the impact on homeowners can still be substantial, affecting annual budgeting and long-term financial planning. Understanding these factors can help homeowners anticipate their property tax obligations more accurately.
Average Eglon Tax Bill
$534
Average Preston County Tax Bill
$473
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Eglon, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26716 | $163 | $325 | $534 | $765 | $1,085 |
Source: Ownwell