Amigo, West Virginia Property Taxes
The median property tax rate in Amigo, WV is 0.72%, aligning with the West Virginia state median but significantly lower than the national median of 0.99%. With the median home value in Amigo being $6,300, the typical annual property tax bill is just $79, a stark contrast to the national median of $2,690. Property taxes in Amigo are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Amigo'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 Amigo or another part of Raleigh County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Amigo, 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 Amigo Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Amigo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Amigo 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 Amigo, West Virginia
Property taxes in Amigo, 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 Amigo is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Amigo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amigo 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 Amigo's effective property tax rate to other areas in Raleigh County and the national median. For comparison, the zip code 25811 has both the highest and lowest median property tax rate of 0.72%. Understanding how these rates compare with Amigo provides valuable insights into the varying tax landscape across Raleigh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amigo Tax Rate
0.72%
Average Raleigh County Tax Rate
0.72%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amigo, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25811 | 0.72% | 0.72% | 0.72% | 0.72% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Amigo, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Amigo, West Virginia. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Raleigh County Assessor's Office 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 Amigo, 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, zip codes with the highest tax bills can see amounts around $240, while those with the lowest are closer to $37. By understanding the distinction between 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 Amigo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Amigo Assessed Value
$6,300
Average Raleigh County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amigo, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25811 | $1,880 | $4,200 | $6,300 | $15,950 | $33,160 |
Source: Ownwell
Property Tax Bills Across Amigo, West Virginia
In Amigo, Raleigh County, WV, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is typically a percentage of the market value of the home. The tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Amigo, the median home price is $6,300. The tax bills can vary significantly, with the 25th percentile tax bill at $37 and the 75th percentile at $192. At the 90th percentile, homeowners may see tax bills as high as $240. These property tax bills are influenced by several factors, including property location, improvements, and local government budgets. Compared to the national median property tax rate of 0.99%, homeowners in Amigo experience relatively lower tax bills. However, these bills can still impact household budgets, making it essential for homeowners to understand how their property taxes are calculated and to explore potential exemptions or appeals to reduce their financial burden.
Average Amigo Tax Bill
$79
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Amigo, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25811 | $30 | $37 | $79 | $192 | $240 |
Source: Ownwell