West Virginia levies taxes on actual property, together with land and buildings, to fund native authorities companies corresponding to colleges, libraries, and emergency companies. These levies are primarily based on the assessed worth of the property, which is decided by county assessors. For instance, a property assessed at $100,000 in a county with a levy of 1% would have a tax invoice of $1,000.
Steady and predictable income streams for native governments are important for efficient budgeting and planning. This income permits communities to spend money on infrastructure, keep public companies, and entice companies. Traditionally, property taxes have been a cornerstone of native authorities funding in West Virginia, reflecting the state’s distinctive stability between city and rural wants.