Real Estate
In West Virginia, real estate taxes (also known as property taxes) are administered at the county level and are based on the assessed value of real property. These taxes fund local services, including schools, emergency services, and county government operations.
Appraisal of Real Estate in WV
West Virginia law mandates that real property be appraised at fair market value to ensure equitable taxation.
A. Appraisal Process
- The County Assessor is responsible for assessing all real estate within the county.
- Properties are reappraised at least every three years (§11-1C-7, WV Code), but the assessed value can be updated annually based on sales trends and market conditions.
- The assessed value is 60% of the fair market value (§11-3-1, WV Code).
B. Appealing an Assessment
- Property owners can appeal their assessments to the County Commission sitting as the Board of Equalization and Review in February (§11-3-24, WV Code).
- If dissatisfied, they may appeal to the Circuit Court.
Taxation of Real Estate in WV
Real estate taxes are calculated based on the assessed value and the local levy rates set by various taxing authorities.
A. Tax Calculation
- Assessed Value = 60% of Market Value
- Property Tax = Assessed Value × Levy Rate
- Levy rates are set by the County Commission, School Board, and Municipalities (§11-8-6f, WV Code).
B. Classification of Property for Taxation
West Virginia has different tax rates for various types of property:
- Class I - Intangible personal property (mostly exempt).
- Class II - Owner-occupied residential property (lower rates).
- Class III & IV - Rental, commercial, and industrial properties (higher rates).
3. Important Real Estate Tax Dates in WV
Date | Event |
July 1 | Start of the fiscal year. Property taxes for the new year begin. |
July - August | Tax statements are mailed to property owners |
September 1 | First-half taxes become due |
October 1 | First-half taxes become delinquent after this date (§11A-1-3, WV Code). |
March 1 | Second-half taxes become due. |
April 1 | Second-half taxes become delinquent after this date. |
February | Window for appeals to the County Commission (Board of Equalization and Review). |
April - June | Delinquent tax notices and publication in newspapers (§11A-2-10, WV Code). |
November | Tax lien sales for properties with unpaid taxes (§11A-3-2, WV Code). |
4. Delinquent Taxes & Tax Sales
If real estate taxes are not paid:
- They are considered delinquent on October 1 and April 1 depending on the installment.
- Delinquent taxes incur penalties and interest (§11A-2-3, WV Code).
- Properties with unpaid taxes are subject to tax lien sales in November (§11A-3-2, WV Code).
- The owner has 18 months to redeem the property before it is transferred to the buyer at the tax sale (§11A-3-23, WV Code).
Key Takeaways
- Real estate is assessed at 60% of market value and taxed based on local levy rates.
- First-half taxes are due by September 1, and second-half taxes are due by March 1.
- Tax sales occur in November for unpaid taxes, and owners have 18 months to redeem their property.
- Property owners can appeal assessments every February.