Coal Mountain, West Virginia Property Taxes
The median property tax rate in Coal Mountain, WV is 0.68%, notably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $20,700 in Coal Mountain, the typical annual property tax bill is $138, which is significantly less than the national median of $2,690. Property taxes in Coal Mountain are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Familiarizing yourself with Coal Mountain's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Coal Mountain or another part of Wyoming County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coal Mountain, 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 Coal Mountain Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coal Mountain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coal Mountain 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 Coal Mountain, West Virginia
Property taxes in Coal Mountain, 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 Coal Mountain is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Coal Mountain set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coal Mountain 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 Coal Mountain's effective property tax rate to other areas in Wyoming County and the national median. For comparison, the zip code 24823 has both the highest and lowest median property tax rate of 0.68%. Understanding how these areas compare with Coal Mountain provides valuable insights into the varying tax landscape across Wyoming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coal Mountain Tax Rate
0.68%
Average Wyoming County Tax Rate
0.68%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coal Mountain, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24823 | 0.42% | 0.68% | 0.68% | 1.37% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Coal Mountain, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Coal Mountain, West Virginia. 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 Wyoming 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 Coal Mountain, 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. The highest median tax bill in the area is $138.00 in zip code 24823, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Coal Mountain, West Virginia
Source: Ownwell
$17,200
$41,500
$65,800
Average Coal Mountain Assessed Value
$20,700
Average Wyoming County Assessed Value
$25,000
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coal Mountain, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24823 | $1,800 | $10,150 | $20,700 | $31,900 | $43,300 |
Source: Ownwell
Property Tax Bills Across Coal Mountain, West Virginia
In Coal Mountain, Wyoming County, WV, property tax bills are calculated based on the assessed value of a home, which is distinct from its market value. The assessed value is determined by local tax assessors who evaluate various factors, including the property's location, size, and condition. Homeowners in Coal Mountain typically see property tax bills ranging from $69 at the 25th percentile to $372 at the 90th percentile, with the median tax bill being $138. This figure is significantly lower than the national median property tax rate of 0.99%, reflecting the relatively modest property values in the area. For instance, the median home price in Coal Mountain stands at $20,700. Lower property tax bills can be beneficial for homeowners, reducing the overall cost of homeownership and making it easier to manage annual expenses. However, it also means fewer resources for local services funded by property taxes, such as schools and infrastructure. Understanding these dynamics helps homeowners plan better and anticipate their annual financial obligations.
Average Coal Mountain Tax Bill
$138
Average Wyoming County Tax Bill
$190
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Coal Mountain, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24823 | $28 | $69 | $138 | $253 | $372 |
Source: Ownwell