Ghent, West Virginia Property Taxes
The median property tax rate in Ghent, WV is 0.72%, aligning with the state median but lower than the national median of 0.99%. With a median home value of $120,600 in Ghent, the typical annual property tax bill stands at $1,074, which is below the national median of $2,690. Property taxes in Ghent are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Ghent'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 Ghent or another part of Raleigh County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ghent, 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 Ghent Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ghent with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ghent 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 Ghent, West Virginia
Property taxes in Ghent, West Virginia, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ghent is 0.72%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Ghent set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ghent 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 Ghent's effective property tax rate to other areas in Raleigh County and the national median. For comparison, the zip code 25843 has both the highest and lowest median property tax rate of 0.72%. Understanding how these areas compare with Ghent provides valuable insights into the varying tax landscape across Raleigh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ghent Tax Rate
0.72%
Average Raleigh County Tax Rate
0.72%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ghent, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25843 | 0.45% | 0.72% | 0.72% | 0.72% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Ghent, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ghent, West Virginia. 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 Raleigh County Assessor's Office 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. Assessment notices in Ghent 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 Ghent helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Raleigh County, the median home price is $120,600. The tax bills range significantly, with the 25th percentile at $434 and the 90th percentile reaching $2,767. Notably, the zip code 25843 has both the highest and lowest median tax bill at $1,074.
Average Ghent Assessed Value
$120,600
Average Raleigh County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ghent, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25843 | $35,740 | $64,600 | $120,600 | $259,800 | $368,400 |
Source: Ownwell
Property Tax Bills Across Ghent, West Virginia
In Ghent, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the Raleigh County Assessor's Office. The assessed value is a percentage of the property's market value. For homeowners in Ghent, the median home price is $120,600. The property tax rate in this area is compared to the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and improvements made to the property. Homeowners in Ghent can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $434, while at the 75th percentile, it jumps to $1,889. At the 90th percentile, the tax bill can reach up to $2,767. The highest and lowest median tax bills in the area are both $1,074, indicating a consistent rate within this zip code. These property taxes contribute to local services like schools, infrastructure, and emergency services, directly impacting the community's quality of life.
Average Ghent Tax Bill
$1,074
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Ghent, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25843 | $221 | $434 | $1,074 | $1,889 | $2,767 |
Source: Ownwell