Cedarville, West Virginia Property Taxes
The median property tax rate in Cedarville, WV is 0.56%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Cedarville at $57,050, the typical annual property tax bill is $264, well below the national median of $2,690. Property taxes in Cedarville are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cedarville'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 Cedarville 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
Cedarville, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$319
Ownwell’s Cedarville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cedarville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cedarville 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 Cedarville, West Virginia
Property taxes in Cedarville, West Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cedarville is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Cedarville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cedarville 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 Cedarville's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26611 zip code has both the highest and lowest median property tax rate of 0.56%. Understanding how these cities compare with Cedarville provides valuable insights into the varying tax landscape across Gilmer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cedarville Tax Rate
0.56%
Average Gilmer County Tax Rate
0.56%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cedarville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26611 | 0.25% | 0.43% | 0.56% | 0.56% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Cedarville, West Virginia
In Cedarville, 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 Gilmer 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 Cedarville, 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 Cedarville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Cedarville are both $264.00, found in the 26611 zip code.
Average Cedarville Assessed Value
$57,050
Average Gilmer County Assessed Value
$54,050
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cedarville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26611 | $1,480 | $22,200 | $57,050 | $75,625 | $124,950 |
Source: Ownwell
Property Tax Bills Across Cedarville, West Virginia
In Cedarville, Gilmer County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Cedarville is $57,050, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property location, home improvements, and market conditions are considered during the assessment process. For homeowners, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $141 annually, while those at the 75th percentile could see bills closer to $429. At the 90th percentile, the tax bill can be as high as $730. These figures illustrate the range of property tax obligations within Cedarville, affecting household budgets and financial planning. Compared to the national median property tax rate of 0.99%, Cedarville's property tax rates are relatively modest, providing some relief to homeowners in terms of annual tax expenses.
Average Cedarville Tax Bill
$264
Average Gilmer County Tax Bill
$350
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedarville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26611 | $32 | $141 | $264 | $429 | $730 |
Source: Ownwell