Dunlow, West Virginia Property Taxes
The median property tax rate in Dunlow, WV is 0.74%, slightly higher than the state median of 0.72% but lower than the national median of 0.99%. With a median home value of $31,100, the typical annual property tax bill in Dunlow amounts to $214, significantly below the national median of $2,690. Property taxes in Dunlow are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Dunlow'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 Dunlow or another part of Wayne County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dunlow, 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 DUNLOW Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DUNLOW with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DUNLOW 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 Dunlow, West Virginia
Property taxes in Dunlow, 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 Dunlow is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Dunlow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dunlow 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 Dunlow's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25511 zip code has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these cities compare with Dunlow provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dunlow Tax Rate
0.74%
Average Wayne County Tax Rate
0.74%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dunlow, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25511 | 0.29% | 0.74% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Dunlow, West Virginia
In DUNLOW, 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 Wayne 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 DUNLOW, 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 DUNLOW helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $214.00 in the zip code 25511, while the lowest median tax bill is also $214.00 in the same zip code.
Average Dunlow Assessed Value
$31,100
Average Wayne County Assessed Value
$57,100
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dunlow, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25511 | $3,060 | $13,500 | $31,100 | $54,925 | $93,120 |
Source: Ownwell
Property Tax Bills Across Dunlow, West Virginia
In DUNLOW, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the Wayne County assessor's office. The assessed value is typically a percentage of the property's market value. Homeowners in DUNLOW can expect their property tax bills to vary, with the 25th percentile tax bill at $97 and the 75th percentile at $379. The 90th percentile tax bill reaches up to $656. These variations depend on factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, DUNLOW's property tax rates are relatively low. For instance, the highest median tax bill in the area is $214, which is significantly below the national average. This lower tax burden can be beneficial for homeowners, making homeownership more affordable and potentially increasing the attractiveness of the area for new residents. Understanding these factors can help homeowners better anticipate their annual property tax obligations and manage their finances accordingly.
Average Dunlow Tax Bill
$214
Average Wayne County Tax Bill
$426
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Dunlow, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25511 | $50 | $97 | $214 | $379 | $656 |
Source: Ownwell