Eglon, West Virginia Property Taxes
The median property tax rate in Eglon, WV is 0.79%, which is lower than the national median of 0.99% but slightly higher than the West Virginia state median of 0.72%. With a median home value of $74,700 in Eglon, the typical annual property tax bill amounts to $523, significantly below the national median of $2,690. Property taxes in Eglon are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural land. Understanding Eglon's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in Eglon or investing in property there, being well-informed about the local property tax system will benefit 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
0.79%
Estimate Property Tax Bill
$590
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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eglon is 0.79%, which is 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 areas in Tucker County and the national median. For comparison, the zip code 26716 has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these areas compare with Eglon provides valuable insights into the varying tax landscape across Tucker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eglon Tax Rate
0.79%
Average Tucker County Tax Rate
0.40%
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 | 0.48% | 0.60% | 0.79% | 0.79% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Eglon, West Virginia
In Eglon, 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 Tucker 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 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. The median home price in Eglon is $74,700, with tax bills ranging from $410 at the 25th percentile to $641 at the 90th percentile. 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 Eglon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Eglon Assessed Value
$74,700
Average Tucker County Assessed Value
$90,400
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 | $67,580 | $70,250 | $74,700 | $79,550 | $82,460 |
Source: Ownwell
Property Tax Bills Across Eglon, West Virginia
In Eglon, Tucker County, WV, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Several factors influence the tax bill, including the property's location, size, and improvements. For instance, the median home price in Eglon is $74,700, and homeowners here can expect tax bills that range significantly. At the 25th percentile, tax bills are around $410, while at the 75th percentile, they rise to $597, and at the 90th percentile, they reach $641. This variation highlights how different property characteristics and valuations can impact the final tax amount. When compared to the national median property tax rate of 0.99%, Eglon's tax rates are relatively moderate. These property taxes play a crucial role in funding local services and infrastructure, directly affecting homeowners by supporting community amenities and public resources.
Average Eglon Tax Bill
$523
Average Tucker County Tax Bill
$451
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 | $342 | $410 | $523 | $597 | $641 |
Source: Ownwell