Porters Falls, West Virginia Property Taxes
The median property tax rate in Porters Falls, WV is 0.69%, which is lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $49,100 in Porters Falls, the typical annual property tax bill amounts to $264, significantly below the national median of $2,690. Property taxes in Porters Falls are calculated based on the tax assessed value, which often falls below 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 substantial annual savings. Whether you're in the heart of Porters Falls or another part of the city, 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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Porters Falls is 0.69%, which is lower than 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 areas in Wetzel County and the national median. For comparison, the zip code 26162 has both the highest and lowest median property tax rate of 0.69%. Understanding how these areas compare with Porters Falls provides valuable insights into the varying tax landscape across Wetzel County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Porters Falls Tax Rate
0.69%
Average Wetzel County Tax Rate
0.69%
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 | 0.28% | 0.67% | 0.69% | 0.69% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Porters Falls, West Virginia
In Porters Falls, 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 Wetzel 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 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. For example, the median home price in Porters Falls is $49,100, with tax bills ranging from $114 at the 25th percentile to $1,036 at the 90th percentile. 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.
Property Tax Assessment Values Across Porters Falls, West Virginia
Source: Ownwell
$32,700
$59,650
$86,600
Average Porters Falls Assessed Value
$49,100
Average Wetzel County Assessed Value
$72,300
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 | $9,820 | $23,850 | $49,100 | $74,100 | $148,080 |
Source: Ownwell
Property Tax Bills Across Porters Falls, West Virginia
In Porters Falls, Wetzel County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners in Porters Falls experience property tax bills that vary widely, reflecting differences in property values and assessment rates. For example, the tax bill at the 25th percentile is $114, while the 75th percentile tax bill is $463. Those at the 90th percentile face a tax bill of $1036. The median home price in the area is $49,100, which helps to contextualize these tax amounts. Compared to the national median property tax rate of 0.99%, the tax burden in Porters Falls can be considered relatively modest, making it an appealing location for homeowners looking for lower property taxes. These factors collectively impact the overall affordability and attractiveness of owning a home in Porters Falls.
Average Porters Falls Tax Bill
$264
Average Wetzel County Tax Bill
$518
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 | $45 | $114 | $264 | $463 | $1,036 |
Source: Ownwell