Porters Falls, West Virginia Property Taxes
The median property tax rate in Porters Falls, WV is 1.30%, significantly higher than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Porters Falls at $88,000, the typical annual property tax bill reaches $1,147, surpassing the national median of $2,690. Property taxes in Porters Falls are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Porters Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Porters Falls or another part of Tyler County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Porters Falls, 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 Porters Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Porters Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Porters Falls 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 Porters Falls, West Virginia
Property taxes in Porters Falls, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Porters Falls is 0.58%, significantly lower than both the West Virginia state median of 0.54% and the U.S. national median of 0.99%. Local government entities within Porters Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Porters Falls 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 Porters Falls' effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26050 zip code has the highest median property tax rate of 0.58%, while the 26050 zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Porters Falls 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 Porters Falls Tax Rate
1.30%
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 Porters Falls, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26162 | 1.30% | 1.30% | 1.30% | 1.30% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Porters Falls, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Porters Falls, 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 Tyler 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 Porters Falls, 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 Porters Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $1,147, found in the zip code 26162.
Property Tax Assessment Values Across Porters Falls, West Virginia
Source: Ownwell
$39,600
$63,800
$88,000
Average Porters Falls Assessed Value
$88,000
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 Porters Falls, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26162 | $88,000 | $88,000 | $88,000 | $88,000 | $88,000 |
Source: Ownwell
Property Tax Bills Across Porters Falls, West Virginia
In Porters Falls, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. The tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. In Tyler County, where Porters Falls is located, the median home price is $88,000. Homeowners in this area can expect a median property tax bill of $1,147, which is significantly higher than the national median property tax rate of 0.99%. This higher tax rate can impact homeowners by increasing their annual expenses, which may affect their overall budget and financial planning. The uniformity in the tax bills, with the 25th, 75th, and 90th percentiles all at $1,147, indicates a consistent tax rate across different properties. This consistency helps homeowners predict their tax liabilities more accurately.
Average Porters Falls Tax Bill
$1,147
Average Tyler County Tax Bill
$399
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Porters Falls, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26162 | $1,147 | $1,147 | $1,147 | $1,147 | $1,147 |
Source: Ownwell