Kingwood, Preston County, West Virginia Property Taxes
The median property tax rate in Kingwood, WV is 0.64%, which is notably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Kingwood at $93,100, the typical annual property tax bill amounts to $691, significantly under the national median of $2,690. Property taxes in Kingwood are based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Kingwood's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Kingwood or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kingwood, Preston County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$596
$553
Ownwell’s Kingwood Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Kingwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kingwood 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 Preston County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Kingwood, Preston County, West Virginia
Property taxes in Kingwood, West Virginia, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Kingwood is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Kingwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kingwood 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 Kingwood's effective property tax rate to other areas in Preston County and the national median. For comparison, the zip code 26537 has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these areas compare with Kingwood 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 Kingwood 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 Kingwood, Preston County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26537 | 0.45% | 0.61% | 0.64% | 0.86% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Kingwood, Preston County, West Virginia
In Kingwood, 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 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 Kingwood, 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 instance, the median home price in Kingwood is $93,100, with tax bills ranging from $396 at the 25th percentile to $1,524 at the 90th percentile. Notably, the zip code 26537 has the highest and lowest median tax bill at $691. By understanding 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 Kingwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Kingwood, Preston County, West Virginia
Source: Ownwell
$22,100
$67,475
$112,850
Average Kingwood Assessed Value
$93,100
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 Kingwood, Preston County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26537 | $15,610 | $54,100 | $93,100 | $135,775 | $195,480 |
Source: Ownwell
Property Tax Bills Across Kingwood, Preston County, West Virginia
In Kingwood, Preston County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $93,100, homeowners can expect varying tax bills depending on their property's valuation. The tax bill at the 25th percentile is around $396, while at the 75th percentile, it rises to approximately $1,054. For those in the 90th percentile, the tax bill can be as high as $1,524. These taxes fund essential local services such as schools, emergency services, and infrastructure maintenance. Compared to the national median property tax rate of 0.99%, Kingwood's rates are relatively consistent, offering a balanced approach to property taxation. Homeowners should be aware that any changes in property value or tax rates can directly impact their annual tax obligations, making it crucial to stay informed and proactive in managing their property taxes.
Average Kingwood Tax Bill
$691
Average Preston County Tax Bill
$473
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Kingwood, Preston County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26537 | $176 | $396 | $691 | $1,054 | $1,524 |
Source: Ownwell