W. Va. Code R. agency 110, tit. 110, ser. 110-21B, Appendix
Example 1.
The credit available (when the taxpayer pays the property tax liability after the date for eligibility to receive a 2 1/2 % discount) for eligible property with an assessed value of $30,000 is calculated as follows.
Assessed value of eligible property as found on county property book. | $30,000 |
Homestead Exemption | 20,000 |
Taxable assed value | 10,000 |
Average tax rate (varies by county) | .0123 |
Property tax due the county sheriff | $ 123.00* |
Tax credit available to eligible owner | $ 123.00 |
*paid after discount period expires
Example 2.
The credit available (when the taxpayer pays the property tax liability on or before the date for eligibility to receive a 2 1/2% discount) for eligible property with an assessed value of $25,000 is calculated as follows.
Assessed value of eligible property as found on county land book | $25,000 |
Homestead Exemption | 20,000 |
Taxable assessed value | 5,000 |
Average tax rate (varies by county) | .0123 |
Property tax due the county sheriff | $ 59.96* |
Tax credit available to eligible owner | $ 59.96 |
*paid before discount expires
Example 3.
The credit available for eligible property with an assessed value of $19,000 is calculated as follows.
Assessed value of eligible property as found on county land book | $19,000 |
Homestead Exemption | 20,000 |
Taxable assessed value | 0 |
Property taxes due the county sheriff | 0 |
Tax credit available | 0 |
W. Va. Code R. agency 110, tit. 110, ser. 110-21B, Appendix