Harrisville, West Virginia Property Taxes
The median property tax rate in Harrisville, WV is 0.66%, 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 $78,900 in Harrisville, the typical annual property tax bill amounts to $545, significantly less than the national median of $2,690. Property taxes in Harrisville are calculated based on the assessed value, which is often lower than the market value due to various exemptions like those for primary residences and agricultural properties. By understanding Harrisville's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Harrisville or another part of Ritchie County, a thorough understanding of the local property tax system is essential for maximizing financial benefits.
Last Updated June 14, 2024
Harrisville, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$521
Ownwell’s Harrisville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harrisville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harrisville 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 Harrisville, West Virginia
Property taxes in Harrisville, 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 Harrisville is 0.66%, lower than the U.S. national median of 0.99%. Local government entities within Harrisville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harrisville 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 Harrisville's effective property tax rate to other areas in Ritchie County and the national median. For comparison, the 26362 zip code has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Harrisville provides valuable insights into the varying tax landscape across Ritchie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harrisville Tax Rate
0.66%
Average Ritchie County Tax Rate
0.65%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harrisville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26362 | 0.45% | 0.65% | 0.66% | 0.86% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Harrisville, West Virginia
In Harrisville, 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 Ritchie 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. Assessment notices in Harrisville 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. For instance, the median home price in Harrisville is $78,900, with tax bills ranging from $284 at the 25th percentile to $1,428 at the 90th percentile. The zip code 26362 has both the highest and lowest median tax bill at $545. 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 Harrisville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Harrisville, West Virginia
Source: Ownwell
$34,300
$68,800
$103,300
Average Harrisville Assessed Value
$78,900
Average Ritchie County Assessed Value
$64,450
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harrisville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26362 | $13,460 | $39,000 | $78,900 | $120,400 | $180,800 |
Source: Ownwell
Property Tax Bills Across Harrisville, West Virginia
In Harrisville, WV, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value. For example, with a median home price of $78,900, homeowners can expect varying tax bills depending on their property's specific assessed value and any applicable exemptions. Factors influencing the tax bill include the property's location within Ritchie County and any local levies or special assessments. Homeowners in Harrisville see tax bills ranging from $284 at the 25th percentile to $1,428 at the 90th percentile, with the median tax bill being $545. This median rate is lower than the national median property tax rate of 0.99%, making Harrisville relatively affordable in terms of property taxes. These property tax bills impact homeowners by contributing to local services such as schools, infrastructure, and public safety. Understanding how these taxes are calculated can help homeowners better manage their finances and plan for future expenses.
Average Harrisville Tax Bill
$545
Average Ritchie County Tax Bill
$428
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Harrisville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26362 | $122 | $284 | $545 | $924 | $1,428 |
Source: Ownwell