Rivesville, West Virginia Property Taxes
The median property tax rate in Rivesville, WV is 0.74%, slightly higher than the state median of 0.72% but still below the national median of 0.99%. With a median home value of $92,150 in Rivesville, the typical annual property tax bill is around $734, which is significantly lower than the national median of $2,690. Property taxes in Rivesville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Rivesville'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 Rivesville or another part of Marion County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rivesville, 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 Rivesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rivesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rivesville 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 Rivesville, West Virginia
Property taxes in Rivesville, 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 Rivesville is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Rivesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rivesville 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 Rivesville's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26588 has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these cities compare with Rivesville 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 Rivesville 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 Rivesville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26588 | 0.46% | 0.64% | 0.74% | 0.89% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Rivesville, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rivesville, WV. 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 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 Rivesville, 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 Rivesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Rivesville is $92,150, with tax bills ranging from $399 at the 25th percentile to $1,520 at the 90th percentile. The highest and lowest median tax bills are both $734 in the 26588 zip code.
Property Tax Assessment Values Across Rivesville, West Virginia
Source: Ownwell
$7,100
$122,075
$237,050
Average Rivesville Assessed Value
$92,150
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 Rivesville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26588 | $25,470 | $51,375 | $92,150 | $137,075 | $180,810 |
Source: Ownwell
Property Tax Bills Across Rivesville, West Virginia
In Rivesville, property tax bills are calculated based on the assessed value of the property, which is determined by local government assessors. This assessed value is a percentage of the market value of the home, not its full market value. For example, with a median home price of $92,150 in Rivesville, the property tax bill can vary significantly. Homeowners in the 25th percentile pay around $399, while those in the 75th percentile pay approximately $1,071. The highest property tax bills, in the 90th percentile, can reach up to $1,520. These tax bills are influenced by various factors, including the property's location, size, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Rivesville's tax rates can be considered relatively moderate. This variability in tax bills affects homeowners differently, impacting their annual financial planning and overall housing costs. Understanding these factors is crucial for homeowners to anticipate and manage their property tax obligations effectively.
Average Rivesville Tax Bill
$734
Average Marion County Tax Bill
$886
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Rivesville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26588 | $189 | $399 | $734 | $1,071 | $1,520 |
Source: Ownwell