Arnett, West Virginia Property Taxes
The median property tax rate in Arnett, WV is 0.72%, aligning with the state median but significantly lower than the national median of 0.99%. With a median home value of $31,800 in Arnett, the typical annual property tax bill is $214, which is well below the national median of $2,690. Property taxes in Arnett are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Arnett'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 Arnett 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
Arnett, 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 Arnett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arnett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arnett 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 Arnett, West Virginia
Property taxes in Arnett, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arnett is 0.58%, notably lower than both the West Virginia state median of 0.55% and the U.S. national median of 0.99%. Local government entities within Arnett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arnett 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 Arnett's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25007 zip code has the highest median property tax rate of 0.72%, while the same zip code also records the lowest median tax rate of 0.72%. Understanding how these cities compare with Arnett 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 Arnett 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 Arnett, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25007 | 0.27% | 0.65% | 0.72% | 0.72% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Arnett, West Virginia
In Arnett, 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 Raleigh County Appraisal District 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 Arnett, 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 Arnett is $31,800. The zip code with the highest median tax bill is 25007, with a median tax bill of $214. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Arnett Assessed Value
$31,800
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 Arnett, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25007 | $9,300 | $19,950 | $31,800 | $57,500 | $86,900 |
Source: Ownwell
Property Tax Bills Across Arnett, West Virginia
In Arnett, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. The median home price in Arnett is $31,800, significantly lower than the national median. Homeowners in Arnett can expect their property tax bills to vary widely. For instance, the tax bill at the 25th percentile is $135, while at the 75th percentile, it rises to $376, and at the 90th percentile, it reaches $614. These variations are influenced by multiple factors, including property size, location, and any applicable exemptions. The assessed value is multiplied by the local tax rate to determine the tax bill. With the national median property tax rate at 0.99%, homeowners in Arnett benefit from relatively lower tax bills, making homeownership more affordable in this region. This affordability can be a significant factor for potential homeowners considering a move to Arnett, providing a financial cushion compared to other areas with higher property tax rates.
Average Arnett Tax Bill
$214
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Arnett, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25007 | $43 | $135 | $214 | $376 | $614 |
Source: Ownwell