Ellenboro, West Virginia Property Taxes
The median property tax rate in Ellenboro, 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 $66,100 in Ellenboro, the typical annual property tax bill is $401, significantly below the national median of $2,690. Property taxes in Ellenboro are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ellenboro'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 Ellenboro or another part of Ritchie County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ellenboro, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$430
Ownwell’s Ellenboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ellenboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ellenboro 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 Ellenboro, West Virginia
Property taxes in Ellenboro, 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 Ellenboro is 0.65%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Ellenboro set these rates annually, and they can vary across different neighborhoods. Each year, Ellenboro 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 Ellenboro's effective property tax rate to other areas in Ritchie County and the national median. For comparison, the zip code 26346 has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these areas compare with Ellenboro 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 Ellenboro 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 Ellenboro, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26346 | 0.35% | 0.49% | 0.65% | 0.80% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Ellenboro, West Virginia
In Ellenboro, WV, 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 Ritchie County 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 in Ellenboro 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 Ellenboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Ellenboro is $66,100, with annual tax bills ranging from $202 at the 25th percentile to $1,036 at the 90th percentile. Notably, the highest and lowest median tax bills are both $401 in the 26346 zip code.
Average Ellenboro Assessed Value
$66,100
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 Ellenboro, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26346 | $9,720 | $35,050 | $66,100 | $98,550 | $164,900 |
Source: Ownwell
Property Tax Bills Across Ellenboro, West Virginia
In Ellenboro, located in Ritchie County, WV, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Various factors such as property size, location, and improvements are considered in this assessment. The tax rate, or millage rate, is then applied to the assessed value to determine the tax bill. Homeowners in Ellenboro experience varying tax bills depending on their property's assessed value. For instance, those in the 25th percentile pay around $202 annually, while those in the 75th percentile see bills closer to $643. At the 90th percentile, homeowners might pay up to $1,036 per year. Compared to the national median property tax rate of 0.99%, Ellenboro's rates can be considered relatively moderate. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community’s quality of life.
Average Ellenboro Tax Bill
$401
Average Ritchie County Tax Bill
$428
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Ellenboro, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26346 | $66 | $202 | $401 | $643 | $1,036 |
Source: Ownwell