1. What age am I eligible for Homestead/ Disability Exemption (Homestead Exemption Act)?
You must be 65 years of age or 100% disabled. Additionally, you must be an official resident of the state of West Virginia resident for two consecutive years. You are eligible to sign up, if turning 65 before June 30th of the upcoming year. To be approved for Homestead/ Disability Exemption you must apply between the dates of July 1st and December 1st. This form MUST be completed in the Assessor's office.
2. What does the Homestead Exemption Act allow me to deduct?
If you qualify, the Homestead Exemption Act permits a qualified individual to deduct $20,000 of the Assessed Value of their Class II property.
3. What is the difference between Appraised Value and Assessed Value?
The Appraised Value is the "Fair Market Value" of the property. The Assessed Value is 60% of the Appraised Value. WV State Code states that all property is "Assessed" at 60% of the Appraised Value.
4. What is "Fair Market Value"?
Fair Market Value is the price of property that would be agreed upon between a willing and informed buyer and a willing and informed seller under usual and ordinary circumstances. It is the highest price a property would bring if it were exposed for sale on the open market for a reasonable period of time.
5. How is Fair Market Value determined?
The Comparable Sales and Replacement Cost methods are used to determine Fair Market Value.
6. Why is my property appraised every three (3) years?
The Assessors Office is required to visit each property once every three years to maintain fair and equitable assessments in the county. The appraisals are to be conducted puruant to to a reappraisal plan approved by Property Valuation Training and Procedures Commission (WV State Code 11-1C-1). Appraisals of all property are on a three year cycle.
7. What is the difference in the tax classifications?
Class I: All Class I is now exempt, All tangible personal property employed exclusively in agriculture, including horticulture and grazing; All products of agriculture (including livestock) while owned by the producer; All notes, bonds, bills and accounts receivable, stocks and any other intangible personal property.
Class II: All property owned, used, and occupied by the owner exclusively for residential purposes; all farms, including land used for horticulture and grazing, occupied, and cultivated by their owners or bona fide tenants.
Class III: All real and personal property situated outside of municipalities, exclusive of Classes I and II (NON OWNER OCCUPIED).
Class IV: All real and personal property situated inside of municipalities, exclusive of Classes I and II (Non OWNER OCCUPIED).
8. What towns in Lincoln County are municipalities?
Town of Hamlin and the Town of West Hamlin
9. What is the last date to file my Personal Property assessment form?
November 1st of every tax year is the last day to file.
10. What is my legal right if I disagree with the value of the Appraiser has placed on my property?
You should contact the County Commission office and request a hearing during the Board of Equalization. This usually takes place at the beginning of February each calendar year.
11. What time of year are certain filings due?
-To be approved for Farm Statistics Reduction you must file between the dates of July 1st and September 1st each year.
-To be approved for Homestead Exemption you must apply between July 1st and December 1st.
-All taxpayers must file a Personal Property Return by October 1st of each year.
-All Business Personal Property Returns must be filed by September 1st of each year.
12. What is the responsibility of the Assessor?
The Assessor list and values all property in the county. The property tax system is designed to distribute taxes according to the value of property. The Assessor must value property as accurately and fairly as the law allows. This equalization for property values ensures that everyone pays his or her fair share of taxes.
The values determined by the Assessor are ASSESSMENTS, they are NOT taxes. THE ASSESSOR DOES NOT SET TAXES. The Assessor is really a county appraiser. The Assessor supervises a staff of well-trained professionals who estimate the value of homes, stores, farms and all other taxable property in Lincoln County.
13. What is Real Estate?
The physical land, buildings, and affixed improvements, generally thought to be immovable.
14. What are the Levy Rates in Lincoln County?
Class II = 1.2472
Class II (Hamlin = 1.4554), (West Hamlin = 1.4746)
Class III = 2.4944
Class IV (Hamlin = 2.8108), (West Hamlin = 2.9492)
15. Why didn’t I receive a personal property tax statement this year?
In order to receive a tax statement on your personal property you must fill out an assessment card. Those cards are mailed out from our office on July 1st of every year. If you did not receive a card and would like to be assessed, feel free to call our office and we will mail you out a card or assess you over the phone.
16. How do I obtain a “Farm Use” sticker?
You must come into the office to fill out an application and pay a $2.00 fee. Class A (pick-up truck under 8,0011lbs) or a Class B (truck, tractor-trailer combinations 8,001lbs and over). These vehicles are required to have the words “FARM USE” affixed to both sides of the vehicle in ten inch letters in addition to displaying a “FARM USE” sticker on the windshield. These vehicles are still subject to the restricted Implement of Husbandry thirty –five mile distance use provision of WV code § 17A-3-2.
17. I have a farm, how do I apply for Farm Use Valuation?
All agricultural production units, with sales, home consumption, or use, of $1000 or more, may qualify for far use valuation. Units of (5) acres may qualify if sales were at least $500.
18. I received a letter from the State Tax Department concerning Natural Resource increases?
Should you receive a letter from the State Tax Department concerning Natural Resource increases, please call there office at (304) 558-0771 and they will assist you. You can also fill out the 2017 Taxpayer Inquiry Request Form and return it by mail or fax to them. If you have any questions or need help filling out the form, please contact our office.
19. How are my property taxes calculated?
Your property tax bill is determned by multiplying a tax rate against your assessed value. Remember the Assessor determines your assessed value and the levy rate is determined by WV Legislature, county commission and county municipalities. Citizens also determine a significant portion of the county levy rate by voting for or against the school excess levy and the fire and ambulance levy. See the Levy Rates for Lincoln County on the Assessor's Information Page.
20. Where does my property tax money go?
For every property tax dollar you pay, about 68% goes to the county schools, about 23% goes to the county government and about 8.5% goes to county fire and ambulance service. Less than 1/2 of 1% goes to the State of WV.