Le Roy, West Virginia Property Taxes
The median property tax rate in Le Roy, WV is 0.53%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $93,150 in Le Roy, the typical annual property tax bill is $499, well below the national median of $2,690. Property taxes in Le Roy are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Le Roy'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 Le Roy 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
Le Roy, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$494
Ownwell’s LE ROY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LE ROY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LE ROY 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 Le Roy, West Virginia
Property taxes in Le Roy, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Le Roy is 0.53%, which is lower than the U.S. national median of 0.99%. Local government entities within Le Roy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Le Roy 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 Le Roy's effective property tax rate to other areas in Roane County and the national median. For comparison, the zip code 25252 has the highest median property tax rate of 0.53%, while the same zip code also has the lowest median tax rate of 0.53%. Understanding how these areas compare with Le Roy provides valuable insights into the varying tax landscape across Roane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Le Roy Tax Rate
0.53%
Average Roane County Tax Rate
0.53%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Le Roy, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25252 | 0.33% | 0.44% | 0.53% | 0.53% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Le Roy, West Virginia
In Le Roy, 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 local authorities 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 Le Roy, 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 Le Roy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Roane County, the median home price is $93,150, with tax bills ranging from $254 at the 25th percentile to $946 at the 90th percentile. The zip code 25252 has both the highest and lowest median tax bill at $499.
Average Le Roy Assessed Value
$93,150
Average Roane County Assessed Value
$76,300
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Le Roy, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25252 | $19,980 | $53,000 | $93,150 | $127,525 | $188,560 |
Source: Ownwell
Property Tax Bills Across Le Roy, West Virginia
In Le Roy, WV, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Homeowners in Le Roy can expect their property tax bills to vary widely, with the 25th percentile tax bill at $254 and the 75th percentile at $674. The highest median tax bill in the region is $499, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property location, size, and any applicable exemptions or deductions. For instance, properties in the zip code 25252 have a median tax bill of $499. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Understanding how property taxes are calculated can help homeowners in Le Roy better manage their finances and anticipate their annual tax obligations.
Average Le Roy Tax Bill
$499
Average Roane County Tax Bill
$415
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Le Roy, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25252 | $97 | $254 | $499 | $674 | $946 |
Source: Ownwell