Montrose, Tucker County, West Virginia Property Taxes
The median property tax rate in Montrose, WV is 0.40%, considerably lower than both the national median of 0.99% and West Virginia's state median of 0.72%. With the median home value in Montrose at $90,600, the typical annual property tax bill reaches $481, significantly below the national median of $2,690. Property taxes in Montrose are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Montrose'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 Montrose or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montrose, Tucker County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$362
$336
Ownwell’s Montrose Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montrose with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montrose 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 Montrose, Tucker County, West Virginia
Property taxes in Montrose, 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 Montrose is 0.40%, significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Montrose set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montrose 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 Montrose's effective property tax rate to other counties in West Virginia and the national median. For comparison, the highest median property tax rate in the region is found in Tucker County, which has a rate of 0.40%, while Montrose itself maintains a similar rate. Understanding how these cities compare with Montrose 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 Montrose Tax Rate
0.40%
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 Montrose, Tucker County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26283 | 0.27% | 0.40% | 0.40% | 0.40% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Montrose, Tucker County, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Montrose, WV. 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 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 Montrose, 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 Montrose is $90,600, with tax bills ranging from $208 at the 25th percentile to $712 at the 90th percentile. The zip code 26283 has both the highest and lowest median tax bill at $481. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Montrose, Tucker County, West Virginia
Source: Ownwell
$67,700
$138,950
$210,200
Average Montrose Assessed Value
$90,600
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 Montrose, Tucker County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26283 | $18,970 | $57,600 | $90,600 | $138,150 | $176,550 |
Source: Ownwell
Property Tax Bills Across Montrose, Tucker County, West Virginia
In Montrose, WV, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. For homeowners in Montrose, the median home price is $90,600. The property tax rate in Tucker County is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. Homeowners in Montrose can expect their tax bills to vary, with the 25th percentile at $208 and the 75th percentile at $637. The 90th percentile reaches up to $712. These figures indicate a range of potential tax liabilities, reflecting differences in property values and individual circumstances. Compared to the national median property tax rate of 0.99%, Montrose's tax rates can be considered moderate, providing a balanced approach to funding local services without placing an undue burden on homeowners.
Average Montrose Tax Bill
$481
Average Tucker County Tax Bill
$451
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Montrose, Tucker County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26283 | $157 | $208 | $481 | $637 | $712 |
Source: Ownwell