Example of Nicholas County Property Tax Calculation
Nicholas County Property Tax is calculated by taking the assessed value of a property and multiplying it by the tax rate. For example, if a property in Nicholas County is assessed at $100,000 and the tax rate is 1%, then the property owner would owe $1,000 in property taxes. The assessed value of the property is determined by the county assessor and takes into account factors such as the size and condition of the property. The tax rate is set by the local government and can vary depending on the area and current economic conditions. It is important for property owners in Nicholas County to be aware of their property's assessed value and the current tax rate in order to properly budget for property taxes.
If you want appeal your property tax assessment - contact your local tax assessor.
Nicholas County Property Tax Rates
Here is a formatted table for the Nicholas County Property Tax rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General Fund | $0.51 |
| County School Board | $0.70 |
| State School Board | $0.005 |
| State Parks | $0.01 |
| County Fire Board | $0.02 |
| Total | $1.28 |
Please note that these rates are subject to change and may vary depending on the specific property and location within Nicholas County. It is recommended to consult with a local tax professional for more detailed and up-to-date information.
Who sets property tax rates in Nicholas County ?
According to US law, property tax rates are set by the local government, specifically by the county in which the property is located. In the case of Nicholas County, West Virginia, the Nicholas County Commission sets the property tax rates on an annual basis. This commission is made up of three elected officials who are responsible for overseeing various aspects of local government, including taxation.
The property tax rate is typically determined by the commission after they have reviewed the county's budget and projected expenses for the upcoming year. They will take into account factors such as the county's population, property values, and the current economic climate.
In Nicholas County, property owners can expect to receive their property tax bills in July of each year. The tax is due in two installments, with the first payment due in October and the second payment due in March of the following year.
It is important for property owners in Nicholas County to stay informed about property tax rates, as they can vary from year to year. Working with a tax advisor can be helpful in understanding how these rates will impact an individual's finances and planning accordingly.
Homestead exemptions in Nicholas County ?
In Nicholas County, Kentucky, there are several county specific Homestead exemptions and deductions that are available to eligible residents. Here is a breakdown of the available exemptions and deductions, along with some important notes to keep in mind:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Exemption | Any homeowner who resides in their primary residence on January 1st of the tax year | $39,300 | This exemption applies to the assessed value of the property and reduces the property taxes owed. |
| Disability Exemption | Any homeowner who has been deemed totally and permanently disabled by the Social Security Administration | $37,600 | This exemption applies to the assessed value of the property and reduces the property taxes owed. |
| Veteran's Exemption | Any veteran who was honorably discharged from the United States Armed Forces and is receiving disability compensation from the Department of Veteran's Affairs | $39,300 | This exemption applies to the assessed value of the property and reduces the property taxes owed. |
| Surviving Spouse Exemption | Any surviving spouse of a veteran who was honorably discharged from the United States Armed Forces and died as a result of a service-connected disability | $39,300 | This exemption applies to the assessed value of the property and reduces the property taxes owed. |
| Personal Property Exemption | Any homeowner who is 65 years of age or older or who is totally and permanently disabled | $1,000 | This exemption applies to personal property such as car tags and reduces the taxes owed on that property. |
It is important to note that these exemptions and deductions may have different eligibility requirements and amounts in other counties in Kentucky. Additionally, homeowners must apply for these exemptions and deductions with the Nicholas County Property Valuation Administrator's office in order to receive them.
When is Nicholas County Property Tax due ?
Nicholas County Property Tax Due Dates and Payment Methods
Nicholas County property taxes are typically due by October 1 of each year. However, if the due date falls on a weekend or holiday, the deadline is extended to the following business day.
Property owners have several payment methods available to them, including:
- In person: Payments can be made in person at the Nicholas County Courthouse or at designated payment locations.
- By mail: Payments can be mailed to the Nicholas County Sheriff’s Office at P.O. Box 1447, Summersville, WV 26651. The envelope must be postmarked by October 1 to avoid late fees.
- Online: Payments can be made online through the Nicholas County Sheriff’s Office website using a credit or debit card. A convenience fee may apply.
It’s important to note that failure to pay property taxes by the due date can result in late fees and penalties. If you have any questions or concerns about your property tax payment, you can contact the Nicholas County Sheriff’s Office at (304) 872-7880.
If you have more questions - contact your local tax collector.
How is Nicholas County Property Tax penalty calculated ?
Nicholas County Property Tax Penalty Calculation
In Nicholas County, West Virginia, property taxes are due annually on September 1st. If a property owner fails to pay their taxes on time, a penalty will be added to the amount owed. The penalty is calculated as follows:
- On September 2nd, a 3% penalty is added to the total amount due.
- On October 1st, an additional 2% penalty is added to the total amount due.
- On November 1st, an additional 5% penalty is added to the total amount due.
- On December 1st, an additional 5% penalty is added to the total amount due.
Example:
Let's say John owns a property in Nicholas County, and his total property tax bill is $2,000. If he fails to pay his taxes by September 1st, the following penalties will be added:
- September 2nd: $60 (3% of $2,000) Penalty = $2,060
- October 1st: $40 (2% of $2,000) Penalty = $2,100
- November 1st: $100 (5% of $2,000) Penalty = $2,200
- December 1st: $100 (5% of $2,000) Penalty = $2,300
Therefore, if John doesn't pay his property taxes for four months, his total bill will be $2,300.
It is important to note that if the taxes remain unpaid for an extended period of time, the property can be sold at a tax sale to satisfy the debt. To avoid penalties and the possibility of losing their property, it is recommended that property owners pay their taxes on time.
We recommend contacting the Nicholas County Tax Office or a local tax professional for the most up-to-date and accurate information.