Princeton, Mercer County, West Virginia Property Taxes

Name: Property Tax Bills Across Princeton, Mercer County, West Virginia
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Princeton, 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 Princeton, WV home value: $76,000
Median annual Princeton, WV tax bill: $550, $1,850 lower than the national median property tax bill of $2,400.

How are property taxes in Mercer calculated?

Property taxes in Princeton, 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 Princeton’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Princeton, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Princeton, Mercer County, West Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.68%

Estimate Property Tax Bill

$517

$480

Ownwell’s Princeton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Princeton with just two data points. By entering your property's estimated assessed value, our calculator applies Princeton’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Mercer County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Princeton, Mercer County, West Virginia

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Princeton’s effective property tax rate to other cities in West Virginia and the median property tax rates in West Virginia and the U.S.

Princeton, located in Mercer County, has a median property tax rate of 0.68%, which aligns with the highest and lowest median tax rates in the area. This figure is significantly lower than the national median property tax rate of 1.02%. Such a competitive rate can offer substantial savings for property owners in Princeton compared to other regions across the country. Understanding these rates can be crucial for homeowners looking to manage their property tax expenses effectively. By staying informed, property owners can make educated decisions about their investments and potential property tax appeals.

Property Tax Rates Across Princeton, Mercer County, West Virginia

Source: Ownwell

0.68%

0.75%

0.83%

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 Princeton Tax Rate

0.68%

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 Princeton, Mercer County, West Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
24740	0.39%	0.55%	0.68%	0.83%	1.48%
24701	N/A	N/A	N/A	N/A	N/A
24739	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Princeton, Mercer County, West Virginia

When examining property taxes in Princeton, WV, 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. Assessment notices: 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 Princeton. For example, the median home price in Princeton is $76,000, with tax bills ranging significantly across the county. 24740 has the highest median home price at $73,900.

Property Tax Assessment Values Across Princeton, Mercer County, West Virginia

Source: Ownwell

$16,100

$54,500

$92,900

Median Princeton Market Value

$76,000

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 Princeton, Mercer County, West Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
24740	$11,800	$40,300	$73,900	$115,900	$176,260
24701	N/A	N/A	N/A	N/A	N/A
24739	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Princeton, Mercer County, West Virginia

In Princeton, WV, located in Mercer County, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value of the property, which is evaluated by local assessors. Homeowners in Princeton face a median property tax bill that is significantly lower than the national median of $2,400. Here, the highest and lowest median tax bills both stand at $571 in the zip code 24740, showcasing a consistent tax environment. Factors influencing tax bills include property size, location, and improvements. For homeowners, property taxes represent a significant annual expense, impacting financial planning and overall affordability of homeownership. Ownwell offers valuable assistance by helping homeowners appeal their property tax assessments, ensuring they are not overpaying. By leveraging their expertise, homeowners can potentially save hundreds of dollars on their property tax bills, making homeownership more affordable and financially manageable.

Property Tax Bills Across Princeton, Mercer County, West Virginia

Source: Ownwell

$103

$398

$692

Median Princeton Tax Bill

$550

Median Mercer County Tax Bill

$442

Median West Virginia Tax Bill

$607

Median United States Tax Bill

$2,400

Property Tax Bills Across Princeton, Mercer County, West Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
24740	$111	$291	$571	$923	$1,306
24701	N/A	N/A	N/A	N/A	N/A
24739	N/A	N/A	N/A	N/A	N/A

Source: Ownwell