Cairo, West Virginia Property Taxes
The median property tax rate in Cairo, WV is 0.65%, which is lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $55,600 in Cairo, the typical annual property tax bill amounts to $364, significantly below the national median of $2,690. Property taxes in Cairo are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Cairo's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Cairo or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cairo, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$361
Ownwell’s Cairo Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cairo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cairo to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in more granular insights, additional localized information is available by scrolling down. Your property’s assessed value is determined by the county for tax calculations, considering any applicable exemptions.
Property Tax Rates Across Cairo, West Virginia
Property taxes in Cairo, 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 Cairo is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Cairo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cairo 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 Cairo's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26337 zip code has both the highest and lowest median property tax rate of 0.65%. Understanding how these cities compare with Cairo 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 Cairo Tax Rate
0.65%
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 Cairo, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26337 | 0.42% | 0.65% | 0.65% | 0.85% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Cairo, West Virginia
In Cairo, 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'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 Cairo, 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 Cairo is $55,600, with tax bills ranging from $144 at the 25th percentile to $1,021 at the 90th percentile. The highest and lowest median tax bills are both $364 in the 26337 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cairo Assessed Value
$55,600
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 Cairo, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26337 | $3,900 | $18,100 | $55,600 | $101,500 | $156,560 |
Source: Ownwell
Property Tax Bills Across Cairo, West Virginia
In Cairo, WV, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $55,600, the assessed value is calculated, and then the local tax rate is applied to this value. Factors such as property location, home improvements, and land value all contribute to the assessed value. Homeowners in Cairo can expect a property tax bill that varies significantly. At the 25th percentile, the tax bill is around $144, while at the 75th percentile, it reaches $636. Those at the 90th percentile see tax bills as high as $1,021. The highest median tax bill in the area is $364, which is relatively low compared to the national median property tax rate of 0.99%. These variations can impact homeowners' financial planning, influencing decisions on property investments and home improvements.
Average Cairo Tax Bill
$364
Average Ritchie County Tax Bill
$428
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Cairo, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26337 | $52 | $144 | $364 | $636 | $1,021 |
Source: Ownwell