Ranson, West Virginia Property Taxes
The median property tax rate in Ranson, WV is 0.85%, which is lower than the national median of 0.99% but higher than the West Virginia state median of 0.72%. With a median home value of $219,700 in Ranson, the typical annual property tax bill amounts to $1,953, falling below the national median of $2,690. Property taxes in Ranson are calculated based on the tax assessed value, which often lies beneath the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Ranson'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 Ranson or another part of Jefferson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ranson, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,867
Ownwell’s Ranson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ranson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ranson 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 Ranson, West Virginia
Property taxes in Ranson, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ranson is 0.85%, slightly lower than the U.S. national median of 0.99%. Local government entities within Ranson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ranson 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 Ranson's effective property tax rate to other areas in Jefferson County and the national median. For comparison, the zip code 25438 has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Ranson provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ranson Tax Rate
0.85%
Average Jefferson County Tax Rate
0.70%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ranson, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25438 | 0.68% | 0.70% | 0.85% | 0.85% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Ranson, West Virginia
In Ranson, 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 Jefferson 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 Ranson, 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. The median home price in Ranson is $219,700, with tax bills ranging from $1,329 at the 25th percentile to $3,438 at the 90th percentile. The zip code 25438 has the highest and lowest median tax bill at $1,953. Being aware of these valuation processes in Ranson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ranson Assessed Value
$219,700
Average Jefferson County Assessed Value
$267,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ranson, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25438 | $115,240 | $160,600 | $219,700 | $277,300 | $368,260 |
Source: Ownwell
Property Tax Bills Across Ranson, West Virginia
In Ranson, located in Jefferson County, WV, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is determined by the local assessor's office. Several factors influence this valuation, including the property's size, location, and condition. Homeowners in Ranson face property taxes that can significantly impact their finances. The median home price in the area is $219,700, and property tax bills vary widely. For instance, the 25th percentile tax bill is $1,329, while the 75th percentile tax bill is $2,532. At the 90th percentile, homeowners might see a tax bill as high as $3,438. This range of tax bills reflects the diverse property values within the city. Compared to the national median property tax rate of 0.99%, Ranson's property tax rates can be a substantial expense for homeowners, influencing their overall cost of living and financial planning.
Average Ranson Tax Bill
$1,953
Average Jefferson County Tax Bill
$2,072
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Ranson, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25438 | $952 | $1,329 | $1,953 | $2,532 | $3,438 |
Source: Ownwell