Taxes in Princeton
Princeton's tax picture combines a genuinely low effective property tax rate with West Virginia's real, statewide phasing-down income tax structure.
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Learn moreA genuinely low property tax rate
Princeton's effective property tax rate ran approximately 0.68% per Ownwell, based on actual Mercer County property records -- below the West Virginia statewide median cited alongside it (~0.71%) and well below the national median (~1.02%).
West Virginia's real, phasing-down income tax
West Virginia's 2026 individual income tax runs 5 brackets up to a 4.58% top marginal rate (single-filer taxable income above $60,000), reflecting an additional 5% across-the-board cut under SB 392, signed March 31, 2026.
A real, two-tier Social Security exemption
West Virginia fully exempts Social Security for filers with AGI at or below $50,000 single/$100,000 joint since 2022, while higher earners reach a full 100% exclusion for tax year 2026 under a separate phase-in.
Key takeaways
- Princeton's effective property tax rate (~0.68%) runs below the WV statewide median.
- West Virginia's 5-bracket income tax (2026) tops out at 4.58%, following an additional SB 392 rate cut.
- Social Security is fully exempt below defined AGI thresholds, with higher earners reaching full exclusion for tax year 2026.
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