Kenova, West Virginia Property Taxes
The median property tax rate in Kenova, WV is 0.74%, slightly higher than the state median of 0.72% but still below the national median of 0.99%. With the median home value in Kenova at $63,800, the typical annual property tax bill amounts to $530, significantly lower than the national median of $2,690. Property taxes in Kenova are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Kenova'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 Kenova or another part of Wayne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kenova, 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 Kenova Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kenova with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kenova 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 Kenova, West Virginia
Property taxes in Kenova, 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 Kenova is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Kenova set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kenova 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 Kenova's effective property tax rate to other areas and the national median. For comparison, the 25530 zip code has both the highest and lowest median property tax rate of 0.74%. Understanding how these areas compare with Kenova provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kenova Tax Rate
0.74%
Average Wayne County Tax Rate
0.74%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kenova, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25530 | 0.42% | 0.62% | 0.74% | 0.96% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Kenova, West Virginia
In Kenova, 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 Wayne 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 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 Kenova helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kenova is $63,800, with tax bills ranging from $296 at the 25th percentile to $1,201 at the 90th percentile.
Average Kenova Assessed Value
$63,800
Average Wayne County Assessed Value
$57,100
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kenova, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25530 | $18,390 | $40,075 | $63,800 | $94,700 | $138,410 |
Source: Ownwell
Property Tax Bills Across Kenova, West Virginia
In Kenova, Wayne County, WV, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. With a median home price of $63,800, homeowners can expect varying tax bills depending on their property's assessed value and applicable tax rates. The median tax bill in the area is $530, aligning with the national median property tax rate of 0.99%. Tax bills in Kenova range significantly, with the 25th percentile at $296, the 75th percentile at $817, and the 90th percentile reaching $1201. These variations arise from differences in property values and specific local tax rates. For homeowners, understanding these factors is crucial, as property taxes can significantly impact annual expenses. By knowing how their tax bill is determined, homeowners can better plan their finances and potentially explore options for appealing their assessed values if they believe their property has been overvalued.
Average Kenova Tax Bill
$530
Average Wayne County Tax Bill
$426
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Kenova, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25530 | $132 | $296 | $530 | $817 | $1,201 |
Source: Ownwell