Oakvale, Mercer County, West Virginia Property Taxes
Median Oakvale, WV effective property tax rate: 0.68%, significantly lower than the national median of 1.02%, but lower than the West Virginia state median of 0.72%.
Median Oakvale, WV home value: $89,700
Median annual Oakvale, WV tax bill: $612, $1,788 lower than the national median property tax bill of $2,400.
How are property taxes in Mercer calculated?
Property taxes in Oakvale, WV are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Oakvale’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Oakvale, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Oakvale, Mercer County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.68%
Estimate Property Tax Bill
$610
$566
Property Tax Rates Across Oakvale, Mercer County, West Virginia
Local government entities determine tax rates, which can vary significantly within a state. This variation occurs because each county, such as 54055 in WV, annually estimates its budgetary needs for public services. They then divide this budget by the total assessed value of all taxable properties in their jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the core process each year.
In Oakvale, the effective property tax rate reflects this calculation. When compared to other cities in West Virginia, Oakvale’s rate provides insight into the local fiscal landscape. The median property tax rate in West Virginia is 0.68%, which is significantly lower than the national median of 1.02%. This means that property owners in Oakvale may benefit from relatively lower property tax rates compared to many other parts of the country. Understanding these nuances can help property owners make informed decisions about their investments and potential tax liabilities.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Oakvale Tax Rate
0.68%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Mercer County Tax Rate
0.68%
Median Effective West Virginia Tax Rate
0.72%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Oakvale, Mercer County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24739 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Oakvale, Mercer County, West Virginia
When examining property taxes in Oakvale, West Virginia, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Mercer County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Mercer County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Oakvale. For example, the median home price in Oakvale is $89,700, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Oakvale, Mercer County, West Virginia
Source: Ownwell
$16,100
$54,500
$92,900
Median Oakvale Market Value
$89,700
Median Mercer County Market Value
$60,200
Median West Virginia Market Value
$80,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Oakvale, Mercer County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24739 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Oakvale, Mercer County, West Virginia
In Oakvale, Mercer County, WV, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price stands at $89,700, which is relatively low compared to national figures. Despite this, the property tax bill can still be a burden for homeowners. In Oakvale, most homeowners pay around $612 annually in property taxes, which is significantly lower than the national median property tax bill of $2,400.
Factors influencing the property tax bill include the local tax rate and any applicable exemptions or deductions. For homeowners, understanding these elements is crucial to ensure they are not overpaying. This is where Ownwell can make a difference. By analyzing your property’s assessed value and local tax regulations, Ownwell can identify potential savings and help you file appeals or apply for exemptions. This proactive approach can lead to significant reductions in your property tax bill, easing the financial burden on homeowners in Oakvale.
Median Oakvale Tax Bill
$612
Median Mercer County Tax Bill
$442
Median West Virginia Tax Bill
$607
Median United States Tax Bill
$2,400
Property Tax Bills Across Oakvale, Mercer County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24739 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell