Property Valuation
West Virginia's ad valorem property tax is based on:
AThe appraised value as determined by a licensed appraiser
BThe assessed value set by the county assessor, typically 60% of market value✓ Correct
CThe purchase price at the time of the most recent sale
DThe owner's self-reported value
Explanation
West Virginia property taxes are based on assessed value determined by the county assessor. West Virginia law requires assessments at 60% of the property's market value. The tax levy is applied to this assessed value.
Related West Virginia Property Valuation Questions
- A West Virginia appraiser's final reconciled value conclusion must be:
- An appraiser in Charleston, WV is appraising a single-family home. Which approach to value is typically given the most weight for residential property?
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- In West Virginia, an appraiser must be state-licensed or certified because:
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