Tallmansville, West Virginia Property Taxes
The median property tax rate in Tallmansville, WV is 0.53%, 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 Tallmansville at $65,900, the typical annual property tax bill amounts to $331, which is well below the national median of $2,690. Property taxes in Tallmansville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tallmansville'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 Tallmansville or another part of Upshur County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tallmansville, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$349
Ownwell’s Tallmansville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tallmansville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tallmansville 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 Tallmansville, West Virginia
Property taxes in Tallmansville, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tallmansville is 0.53%, lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Tallmansville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tallmansville 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 Tallmansville's effective property tax rate to other regions in West Virginia and the national median. For comparison, the 26237 ZIP code has both the highest and lowest median property tax rate of 0.53%. Understanding how these areas compare with Tallmansville provides valuable insights into the varying tax landscape across Upshur County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tallmansville Tax Rate
0.53%
Average Upshur County Tax Rate
0.53%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tallmansville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26237 | 0.31% | 0.53% | 0.53% | 0.53% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Tallmansville, West Virginia
In Tallmansville, 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 Upshur 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 Tallmansville, 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 Tallmansville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 26237 has the highest and lowest median tax bill at $331.
Property Tax Assessment Values Across Tallmansville, West Virginia
Source: Ownwell
$31,200
$67,850
$104,500
Average Tallmansville Assessed Value
$65,900
Average Upshur County Assessed Value
$85,400
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tallmansville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26237 | $6,960 | $28,650 | $65,900 | $103,150 | $141,460 |
Source: Ownwell
Property Tax Bills Across Tallmansville, West Virginia
In Tallmansville, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Upshur County can expect a median home price of $65,900. The property tax rate is then applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Tallmansville, the 25th percentile of tax bills is around $154, while the 75th percentile reaches approximately $537. The 90th percentile of tax bills can go up to $703. This range shows how property tax bills can vary significantly among homeowners. Comparatively, the highest median tax bill in the region is $331, which is still below the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Tallmansville Tax Bill
$331
Average Upshur County Tax Bill
$463
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Tallmansville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26237 | $59 | $154 | $331 | $537 | $703 |
Source: Ownwell