Davy, West Virginia Property Taxes
The median property tax rate in Davy, WV is 0.68%, which is lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Davy at $26,750, the typical annual property tax bill amounts to $141, significantly less than the national median of $2,690. Property taxes in Davy are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Davy'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 Davy or another part of Wyoming County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Davy, 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 DAVY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DAVY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DAVY 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 Davy, West Virginia
Property taxes in DAVY, 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 DAVY is 0.68%, lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within DAVY set these rates annually, and they can vary significantly across different neighborhoods. Each year, DAVY 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 DAVY's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 24828 ZIP code has the highest median property tax rate of 0.68%, while the 24828 ZIP code also has the lowest median tax rate of 0.68%. Understanding how these areas compare with DAVY provides valuable insights into the varying tax landscape across Wyoming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Davy Tax Rate
0.68%
Average Wyoming County Tax Rate
0.68%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Davy, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24828 | 0.16% | 0.60% | 0.68% | 1.37% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Davy, West Virginia
In DAVY, 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 Wyoming 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. In DAVY, 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 DAVY helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 24828, with a tax bill of $141.00, while the lowest is also 24828, with the same tax bill of $141.00.
Average Davy Assessed Value
$26,750
Average Wyoming County Assessed Value
$25,000
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Davy, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24828 | $2,670 | $10,250 | $26,750 | $37,175 | $50,120 |
Source: Ownwell
Property Tax Bills Across Davy, West Virginia
In Davy, located in Wyoming County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the market value of the property. The tax rate, also known as the mill rate, is then applied to this assessed value to calculate the annual tax bill. For example, with a median home price of $26,750, homeowners can expect to see tax bills ranging from $55 at the 25th percentile to $351 at the 90th percentile. Several factors influence the tax bill, including property location, home size, and any applicable exemptions. These taxes are crucial for funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, the rates in Davy are relatively low, making it an attractive location for homeowners seeking affordability. However, even within the same zip code, tax bills can vary, highlighting the importance of understanding local assessment practices.
Average Davy Tax Bill
$141
Average Wyoming County Tax Bill
$190
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Davy, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24828 | $19 | $55 | $141 | $254 | $351 |
Source: Ownwell