Paden City, West Virginia Property Taxes
The median property tax rate in Paden City, WV is 0.80%, which is lower than the national median of 0.99% but higher than the West Virginia state median of 0.72%. With a median home value of $77,650 in Paden City, the typical annual property tax bill amounts to $634, significantly below the national median of $2,690. Property taxes in Paden City are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Paden City'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 Paden City or another part of Tyler County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paden City, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$621
Ownwell’s Paden City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paden City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paden City 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 Tyler County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Paden City, West Virginia
Property taxes in Paden City, 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 Paden City is 0.80%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Paden City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paden City 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 Paden City's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26159 zip code has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Paden City 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 Paden City Tax Rate
0.80%
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 Paden City, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26159 | 0.47% | 0.59% | 0.80% | 0.80% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Paden City, West Virginia
In Paden City, 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 Paden City, 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. Being aware of these valuation processes in Paden City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Paden City are both $634 in the 26159 zip code, with property tax bills ranging from $365 at the 25th percentile to $1,117 at the 90th percentile.
Average Paden City Assessed Value
$77,650
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 Paden City, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26159 | $27,850 | $48,225 | $77,650 | $106,700 | $132,200 |
Source: Ownwell
Property Tax Bills Across Paden City, West Virginia
In Paden City, located in Tyler County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The median home price in Paden City is $77,650. Homeowners can expect their tax bills to vary significantly, with the 25th percentile tax bill at $365 and the 75th percentile reaching $877. For those at the higher end, the 90th percentile tax bill is $1,117. These figures illustrate the range of property tax burdens that residents may face. Several factors influence the final tax bill, including the market value of the property, assessment ratios, and the local tax rate. In comparison to the national median property tax rate of 0.99%, Paden City homeowners generally experience lower property taxes, which can be a financial relief. However, it's crucial for homeowners to stay informed about their property's assessed value and any changes in local tax rates, as these directly impact their annual tax obligations.
Average Paden City Tax Bill
$634
Average Tyler County Tax Bill
$399
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Paden City, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26159 | $181 | $365 | $634 | $877 | $1,117 |
Source: Ownwell