Rachel, West Virginia Property Taxes
The median property tax rate in Rachel, WV is 0.74%, slightly higher than the West Virginia state median of 0.72% but lower than the national median of 0.99%. With a median home value of $50,600 in Rachel, the typical annual property tax bill is $345, significantly below the national median of $2,690. Property taxes in Rachel are calculated based on the tax assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Rachel'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 Rachel or another part of Marion County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rachel, 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 Rachel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rachel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rachel 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 Rachel, West Virginia
Property taxes in Rachel, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rachel is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Rachel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rachel 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 Rachel's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 26587 has both the highest and lowest median property tax rate of 0.74%. Understanding how these areas compare with Rachel provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rachel Tax Rate
0.74%
Average Marion County Tax Rate
0.74%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rachel, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26587 | 0.28% | 0.50% | 0.74% | 0.74% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Rachel, West Virginia
In Rachel, 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 Marion County 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 Rachel, 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 Rachel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $345.00 in zip code 26587, which is also the lowest.
Average Rachel Assessed Value
$50,600
Average Marion County Assessed Value
$104,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rachel, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26587 | $11,200 | $28,200 | $50,600 | $78,200 | $105,140 |
Source: Ownwell
Property Tax Bills Across Rachel, West Virginia
In Rachel, Marion County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Local tax rates, or millage rates, are then applied to this assessed value to determine the final tax bill. The median home price in Rachel stands at $50,600, with property tax bills varying significantly across different percentiles. For instance, the 25th percentile tax bill is $143, while the 75th percentile reaches $576, and the 90th percentile goes up to $769. These tax bills are influenced by factors such as property size, location, and any applicable exemptions. Homeowners in Rachel face a median tax bill of $345, which is lower than the national median property tax rate of 0.99%. This relatively lower tax burden can make homeownership more affordable, but it also means that local government services funded by these taxes may have limited resources. Understanding how these factors interplay can help homeowners better anticipate their tax obligations.
Average Rachel Tax Bill
$345
Average Marion County Tax Bill
$886
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Rachel, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26587 | $47 | $143 | $345 | $576 | $769 |
Source: Ownwell