Eleanor, West Virginia Property Taxes
The median property tax rate in Eleanor, WV is 0.88%, which is below the national median of 0.99% but above the West Virginia state median of 0.72%. With the median home value in Eleanor at $135,500, the typical annual property tax bill amounts to $1,147, significantly lower than the national median of $2,690. Property taxes in Eleanor are calculated based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Eleanor'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 Eleanor 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
Eleanor, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,192
Ownwell’s Eleanor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eleanor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eleanor 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 Eleanor, West Virginia
Property taxes in Eleanor, West Virginia, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Eleanor is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Eleanor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eleanor 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 Eleanor's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25070 has both the highest and lowest median property tax rate of 0.88%. Understanding how these cities compare with Eleanor provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eleanor Tax Rate
0.88%
Average Putnam County Tax Rate
0.73%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eleanor, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25070 | 0.62% | 0.71% | 0.88% | 0.88% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Eleanor, West Virginia
In Eleanor, 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 Putnam 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 Eleanor, 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 Eleanor is $135,500, with tax bills ranging from $846 at the 25th percentile to $2,323 at the 90th percentile. The zip code with the highest median tax bill is 25070. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Eleanor Assessed Value
$135,500
Average Putnam County Assessed Value
$136,400
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eleanor, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25070 | $73,940 | $103,850 | $135,500 | $182,825 | $258,160 |
Source: Ownwell
Property Tax Bills Across Eleanor, West Virginia
In Eleanor, located in Putnam County, WV, property tax bills are determined by assessing the market value of a property and then applying the local tax rate to that value. The median home price in Eleanor is $135,500, and property tax rates are applied to this assessed value to calculate the tax bill. Homeowners in Eleanor typically see a range in their tax bills, with the 25th percentile paying around $846, while those in the 75th percentile pay about $1,633. For the top 10% of taxpayers, the bill can reach up to $2,323. Several factors influence these amounts, including the home's assessed value, any applicable tax exemptions, and the specific tax rate set by local authorities. Compared to the national median property tax rate of 0.99%, Eleanor's tax bills reflect local economic conditions and funding needs for public services. Understanding these factors helps homeowners budget for their annual expenses and plan for any potential increases in property taxes.
Average Eleanor Tax Bill
$1,147
Average Putnam County Tax Bill
$1,099
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Eleanor, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25070 | $581 | $846 | $1,147 | $1,633 | $2,323 |
Source: Ownwell