Reynoldsville, West Virginia Property Taxes
The median property tax rate in Reynoldsville, WV is 0.70%, which is notably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $43,400 in Reynoldsville, the typical annual property tax bill amounts to $273, significantly below the national median of $2,690. Property taxes in Reynoldsville are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Reynoldsville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Reynoldsville or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Reynoldsville, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$304
Ownwell’s Reynoldsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reynoldsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reynoldsville 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 Reynoldsville, West Virginia
Property taxes in Reynoldsville, 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 Reynoldsville is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Reynoldsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, the city 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 Reynoldsville's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26422 has the highest median property tax rate of 0.70%, while the same zip code 26422 also has the lowest median tax rate of 0.70%. Understanding how these areas compare with Reynoldsville provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Reynoldsville Tax Rate
0.70%
Average Harrison County Tax Rate
0.74%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reynoldsville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26422 | 0.29% | 0.48% | 0.70% | 0.70% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Reynoldsville, West Virginia
In Reynoldsville, 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 Harrison 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 Reynoldsville, 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 Reynoldsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, zip code 26422 has the highest median tax bill at $273, while the lowest is also in the same zip code.
Property Tax Assessment Values Across Reynoldsville, West Virginia
Source: Ownwell
$6,500
$99,925
$193,350
Average Reynoldsville Assessed Value
$43,400
Average Harrison County Assessed Value
$76,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Reynoldsville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26422 | $7,450 | $17,400 | $43,400 | $74,775 | $94,300 |
Source: Ownwell
Property Tax Bills Across Reynoldsville, West Virginia
In Reynoldsville, Harrison County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Reynoldsville is $43,400. To determine the tax bill, the assessed value is multiplied by the local tax rate. Factors such as property location, size, and improvements can influence the assessed value. Homeowners in Reynoldsville experience varying tax bills. The 25th percentile tax bill is $151, indicating that 25% of homeowners pay less than this amount, while the 75th percentile tax bill is $490, meaning 75% of homeowners pay less. The 90th percentile tax bill reaches up to $600, highlighting the upper range of property taxes in the area. Compared to the national median property tax rate of 0.99%, Harrison County's rates can significantly impact homeowners, potentially making property ownership more affordable in this region. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Reynoldsville Tax Bill
$273
Average Harrison County Tax Bill
$688
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Reynoldsville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26422 | $48 | $151 | $273 | $490 | $600 |
Source: Ownwell