Jodie, West Virginia Property Taxes
The median property tax rate in Jodie, WV is 0.77%, which is lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $28,900 in Jodie, the typical annual property tax bill is $222, significantly below the national median of $2,690. Property taxes in Jodie are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Jodie'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 Jodie 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
Jodie, West Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,440
Ownwell’s Jodie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jodie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jodie 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 Jodie, West Virginia
Property taxes in Jodie, West Virginia, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Jodie is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Jodie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jodie 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 Jodie's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26690 has both the highest and lowest median property tax rate of 0.77%. Understanding how these areas compare with Jodie provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jodie Tax Rate
0.77%
Average Fayette County Tax Rate
0.77%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jodie, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26690 | 0.19% | 0.77% | 0.77% | 0.77% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Jodie, West Virginia
In Jodie, 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 Fayette County Assessor 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 Jodie, 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 Jodie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 26690, both at $222.
Average Jodie Assessed Value
$28,900
Average Fayette County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jodie, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26690 | $15,250 | $22,175 | $28,900 | $38,775 | $63,030 |
Source: Ownwell
Property Tax Bills Across Jodie, West Virginia
In Jodie, Fayette County, WV, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. To calculate the tax bill, this assessed value is multiplied by the local tax rate. For homeowners in Jodie, the tax bills can vary significantly. For example, the 25th percentile tax bill is $125, while the 75th percentile tax bill reaches $339, and the 90th percentile tax bill is $438. These figures are relatively low compared to the national median property tax rate of 0.99%. The highest and lowest median tax bills in Fayette County are both recorded at $222 in the zip code 26690, indicating a degree of uniformity in tax assessments. Property taxes directly impact homeowners by influencing the affordability of homeownership and the overall cost of living. Lower tax rates can make Jodie an attractive location for potential homebuyers looking for affordability.
Average Jodie Tax Bill
$222
Average Fayette County Tax Bill
$424
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Jodie, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26690 | $73 | $125 | $222 | $339 | $438 |
Source: Ownwell