Ona, West Virginia Property Taxes
The median property tax rate in Ona, WV is 0.82%, which is lower than the national median of 0.99% but higher than the West Virginia state median of 0.72%. With the median home value in Ona at $113,850, the typical annual property tax bill reaches $920, which is below the national median of $2,690. Property taxes in Ona are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Ona's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Ona or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ona, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$934
Ownwell’s Ona Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ona with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ona to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Ona, West Virginia
Property taxes in Ona, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ona is 0.82%, lower than the U.S. national median of 0.99%. Local government entities within Ona set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ona estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Ona's effective property tax rate to other areas in Cabell County and the national median. For comparison, the 25545 zip code has both the highest and lowest median property tax rate of 0.82%. Understanding how these areas compare with Ona provides valuable insights into the varying tax landscape across Cabell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ona Tax Rate
0.82%
Average Cabell County Tax Rate
0.82%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ona, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25545 | 0.49% | 0.65% | 0.82% | 0.82% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Ona, West Virginia
In Ona, West Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Ona, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Ona helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Cabell County, the highest median tax bill is $920.00 in the 25545 zip code, while the lowest median tax bill is also $920.00 in the same zip code.
Average Ona Assessed Value
$113,850
Average Cabell County Assessed Value
$80,550
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ona, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25545 | $30,570 | $68,375 | $113,850 | $180,550 | $273,330 |
Source: Ownwell
Property Tax Bills Across Ona, West Virginia
In Ona, Cabell County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the home's market value. The local tax rate, applied to this assessed value, determines the annual property tax bill. Factors influencing the tax bill include the property's location, improvements, and economic conditions in the area. For homeowners in Ona, the median home price is $113,850, translating into varying tax bills. The 25th percentile tax bill is around $487, while the 75th percentile reaches $1,509. For those at the higher end, the 90th percentile tax bill can be as much as $2,299. These property taxes significantly impact homeowners, influencing their overall cost of living and financial planning. Compared to the national median property tax rate of 0.99%, Ona's property tax rates reflect the specific economic and governmental conditions of Cabell County, affecting each homeowner's fiscal responsibilities uniquely.
Average Ona Tax Bill
$920
Average Cabell County Tax Bill
$825
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Ona, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25545 | $245 | $487 | $920 | $1,509 | $2,299 |
Source: Ownwell