Valley Bend, West Virginia Property Taxes
The median property tax rate in Valley Bend, WV is 0.40%, 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 Valley Bend at $101,100, the typical annual property tax bill is $390, well below the national median of $2,690. Property taxes in Valley Bend are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Valley Bend'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 Valley Bend 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
Valley Bend, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$404
Ownwell’s Valley Bend Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Valley Bend with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valley Bend 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 Valley Bend, West Virginia
Property taxes in Valley Bend, 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 Valley Bend is 0.40%, which is significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities in Valley Bend set these rates annually, which can vary across different neighborhoods. Each year, Valley Bend 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. Understanding how Valley Bend's effective property tax rate compares to other areas in Randolph County and the national median offers valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to other regions.
Average Valley Bend Tax Rate
0.40%
Average Randolph County Tax Rate
0.40%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valley Bend, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26293 | 0.26% | 0.33% | 0.40% | 0.40% | 0.41% |
Source: Ownwell
Property Tax Assessment Values Across Valley Bend, West Virginia
In Valley Bend, 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 Randolph 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 Valley Bend, 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 Valley Bend helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 26293 in Randolph County has both the highest and lowest median tax bill at $390.
Property Tax Assessment Values Across Valley Bend, West Virginia
Source: Ownwell
$28,000
$66,900
$105,800
Average Valley Bend Assessed Value
$101,100
Average Randolph County Assessed Value
$82,600
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Valley Bend, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26293 | $18,480 | $81,100 | $101,100 | $123,200 | $165,300 |
Source: Ownwell
Property Tax Bills Across Valley Bend, West Virginia
In Valley Bend, property tax bills are calculated based on the assessed value of a property, which is determined by the Randolph County Assessor’s office. The assessed value generally reflects a percentage of the market value of the home. The median home price in Valley Bend is $101,100, and property tax rates are applied to this assessed value to determine the annual tax bill. For homeowners, the tax bill can vary significantly. At the 25th percentile, the tax bill is approximately $269, while at the 75th percentile, it rises to around $498. For those in the 90th percentile, the tax bill can reach up to $677. These figures highlight the range of property taxes within the area, influenced by the specific characteristics and valuations of individual properties. Compared to the national median property tax rate of 0.99%, Valley Bend's tax bills are relatively moderate, making it an appealing location for homeowners looking for manageable property tax obligations.
Average Valley Bend Tax Bill
$390
Average Randolph County Tax Bill
$381
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Valley Bend, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26293 | $114 | $269 | $390 | $498 | $677 |
Source: Ownwell