Reedy, West Virginia Property Taxes
The median property tax rate in Reedy, WV is 0.53%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $81,600 in Reedy, the typical annual property tax bill amounts to $444, well below the national median of $2,690. Property taxes in Reedy are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Reedy'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 Reedy or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Reedy, 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 Reedy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reedy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reedy 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 Reedy, West Virginia
Property taxes in Reedy, West Virginia, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Reedy is 0.53%, which is lower than the U.S. national median of 0.99%. Local government entities within Reedy set these rates annually, and they can vary across different neighborhoods. Each year, Reedy 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 Reedy's effective property tax rate to other areas in Roane County and the national median. For comparison, the zip code 25270 has both the highest and lowest median property tax rate of 0.53%. Understanding how these areas compare with Reedy provides valuable insights into the varying tax landscape across Roane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Reedy Tax Rate
0.53%
Average Roane County Tax Rate
0.53%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reedy, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25270 | 0.32% | 0.41% | 0.53% | 0.54% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Reedy, West Virginia
In Reedy, 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 Roane County Appraisal District 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 Reedy, 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 Reedy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Roane County are both $444, found in zip code 25270.
Average Reedy Assessed Value
$81,600
Average Roane County Assessed Value
$76,300
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Reedy, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25270 | $21,420 | $47,800 | $81,600 | $123,800 | $171,280 |
Source: Ownwell
Property Tax Bills Across Reedy, West Virginia
In Reedy, property tax bills are calculated based on the assessed value of a home, which is determined by the Roane County assessor. The median home price in Reedy is $81,600. The local tax rate is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions or deductions. For homeowners in Reedy, the tax bill can vary significantly. For instance, the 25th percentile tax bill is $264, while the 75th percentile reaches $654, and the 90th percentile peaks at $903. These figures illustrate the range of what homeowners might expect to pay annually. Compared to the national median property tax rate of 0.99%, Reedy's tax bills are relatively moderate, providing some financial relief to homeowners. Understanding these factors helps homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Reedy Tax Bill
$444
Average Roane County Tax Bill
$415
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Reedy, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25270 | $116 | $264 | $444 | $654 | $903 |
Source: Ownwell