Alma, West Virginia Property Taxes
The median property tax rate in Alma, WV is 0.65%, which is significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Alma at $60,500, the typical annual property tax bill is $338, well below the national median of $2,690. Property taxes in Alma 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 Alma'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 Alma or another part of Tyler County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alma, 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 Alma Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Alma with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Alma to provide an accurate property tax bill estimate. This valuable tool helps you comprehend potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Alma, West Virginia
Property taxes in Alma, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alma is 0.65%, lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Alma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alma 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 Alma's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26320 zip code has both the highest and lowest median property tax rate of 0.65%. Understanding how these cities compare with Alma provides valuable insights into the varying tax landscape across Tyler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alma Tax Rate
0.65%
Average Tyler County Tax Rate
0.65%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alma, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26320 | 0.39% | 0.65% | 0.65% | 0.65% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Alma, West Virginia
In Alma, 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 Tyler 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 Alma, 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 highest median tax bill in Alma is $338 in the 26320 zip code, while the lowest is also $338 in the same zip code. Being aware of these valuation processes in Alma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Alma Assessed Value
$60,500
Average Tyler County Assessed Value
$59,000
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alma, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26320 | $7,700 | $27,500 | $60,500 | $101,600 | $147,520 |
Source: Ownwell
Property Tax Bills Across Alma, West Virginia
In Alma, located in Tyler County, WV, property tax bills are calculated based on the assessed value of a property. The county assessor determines this value, which is a percentage of the property's market value. The tax rate is then applied to this assessed value to calculate the tax bill. For instance, with a median home price of $60,500, homeowners can expect varying tax bills depending on their property's assessed value and the applicable tax rate. Factors influencing the tax bill include property improvements, market conditions, and local tax rates. For example, tax bills in Alma can range from the 25th percentile at $185 to the 75th percentile at $618, with the 90th percentile reaching up to $976. These figures indicate the variability in tax burdens among homeowners. Comparing this to the national median property tax rate of 0.99%, Alma's property tax rates can be relatively lower, offering some financial relief to homeowners. However, the exact impact on individual homeowners will depend on their specific property assessments and any applicable exemptions or deductions.
Average Alma Tax Bill
$338
Average Tyler County Tax Bill
$399
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Alma, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26320 | $88 | $185 | $338 | $618 | $976 |
Source: Ownwell