Wood County Property Taxes
The median property tax rate in Wood County is 0.66%, which is significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Wood County at $103,100, the typical annual property tax bill amounts to $822, well below the national median of $2,690. Property taxes in Wood County are calculated based on the tax assessed value, which is generally lower than the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Wood County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can lead to substantial annual savings. Whether you reside in Parkersburg or another part of Wood County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wood County 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 Wood County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Wood County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Wood County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Wood County, West Virginia
Property taxes in Wood County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Wood County is 0.66%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Wood County set these rates annually, and they can vary significantly between different areas within the county. Each year, Wood County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Wood County's effective property tax rate with other counties in West Virginia and the national median. For comparison, the city of Parkersburg has one of the higher property tax rates in West Virginia at 0.89%, while the city of Washington boasts one of the lowest at 0.66%. Analyzing how Wood County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Wood County Tax Rate
0.66%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wood County, West Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belleville | 0.44% | 0.57% | 0.66% | 0.66% | 0.66% |
| Davisville | 0.41% | 0.55% | 0.66% | 0.66% | 1.32% |
| Elizabeth | 0.48% | 0.63% | 0.66% | 0.66% | 0.66% |
| Mineral Wells | 0.47% | 0.56% | 0.66% | 0.66% | 0.66% |
| North Parkersburg | 0.68% | 0.70% | 0.74% | 0.77% | 0.79% |
| Parkersburg | 0.51% | 0.66% | 0.89% | 0.89% | 1.77% |
| Petroleum | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
| Ravenswood | 0.45% | 0.56% | 0.66% | 0.66% | 0.67% |
| Rockport | 0.43% | 0.55% | 0.66% | 0.66% | 0.66% |
| Saint Marys | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
| Vienna | 0.60% | 0.70% | 0.88% | 0.88% | 1.06% |
| Walker | 0.41% | 0.56% | 0.66% | 0.66% | 0.66% |
| Washington | 0.49% | 0.55% | 0.66% | 0.66% | 0.66% |
| Waverly | 0.41% | 0.53% | 0.66% | 0.66% | 0.66% |
| Williamstown | 0.53% | 0.66% | 0.66% | 0.81% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Wood County, West Virginia
In Wood County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Wood County Appraisal District. The assessed value, however, 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 Wood County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Wood County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. For instance, North Parkersburg has the highest median tax bill at $3,525, while Petroleum has the lowest at $345. Understanding these differences can be crucial for homeowners looking to optimize their property tax payments.
Property Tax Assessment Values Across Wood County, West Virginia
Source: Ownwell
$21,500
$82,725
$143,950
Average Wood County Assessed Value
$103,100
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wood County, West Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belleville | $13,650 | $37,650 | $84,950 | $146,950 | $211,510 |
| Davisville | $7,090 | $56,925 | $84,000 | $153,550 | $247,390 |
| Elizabeth | $19,520 | $45,200 | $97,000 | $156,675 | $193,100 |
| Mineral Wells | $16,390 | $76,400 | $123,500 | $196,825 | $277,280 |
| North Parkersburg | $6,300 | $12,000 | $21,500 | $445,150 | $699,340 |
| Parkersburg | $21,900 | $52,600 | $88,700 | $140,900 | $204,300 |
| Petroleum | $52,200 | $52,200 | $52,200 | $52,200 | $52,200 |
| Ravenswood | $20,000 | $59,950 | $121,200 | $161,600 | $212,300 |
| Rockport | $16,340 | $48,000 | $95,100 | $144,600 | $221,460 |
| Saint Marys | $68,930 | $79,625 | $97,450 | $115,275 | $125,970 |
| Vienna | $60,700 | $88,000 | $120,800 | $177,600 | $285,140 |
| Walker | $16,300 | $40,225 | $84,050 | $146,900 | $214,260 |
| Washington | $25,680 | $95,400 | $143,950 | $191,950 | $263,030 |
| Waverly | $20,480 | $52,400 | $98,200 | $149,600 | $219,500 |
| Williamstown | $35,000 | $98,525 | $138,650 | $194,000 | $292,200 |
Source: Ownwell
Property Tax Bills Across Wood County, West Virginia
In Wood County, WV, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. For homeowners, several factors influence the final amount, including the home's location, size, and condition. For instance, the median home price in Wood County is $103,100, which gives a general idea of property values in the area. Tax bills in Wood County vary widely, reflecting differences in property values and local tax rates. The 25th percentile tax bill stands at $492, while the 75th percentile reaches $1,227. At the higher end, the 90th percentile tax bill is $1,809. Cities within the county also show significant variation; for example, North Parkersburg has the highest median tax bill at $3,525, whereas Petroleum has the lowest at $345. These variations significantly impact homeowners, influencing their overall cost of living and potentially their decisions about property investment.
Average Wood County Tax Bill
$822
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Wood County, West Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belleville | $99 | $241 | $529 | $943 | $1,332 |
| Davisville | $147 | $350 | $579 | $1,014 | $1,638 |
| Elizabeth | $162 | $355 | $683 | $960 | $1,263 |
| Mineral Wells | $156 | $491 | $801 | $1,272 | $1,833 |
| North Parkersburg | $718 | $1,771 | $3,525 | $5,279 | $6,331 |
| Parkersburg | $210 | $461 | $771 | $1,154 | $1,661 |
| Petroleum | $345 | $345 | $345 | $345 | $345 |
| Ravenswood | $212 | $431 | $728 | $974 | $1,360 |
| Rockport | $130 | $307 | $600 | $946 | $1,406 |
| Saint Marys | $456 | $527 | $645 | $762 | $833 |
| Vienna | $505 | $747 | $1,062 | $1,564 | $2,543 |
| Walker | $112 | $258 | $533 | $933 | $1,413 |
| Washington | $255 | $606 | $917 | $1,256 | $1,744 |
| Waverly | $135 | $326 | $601 | $942 | $1,451 |
| Williamstown | $346 | $711 | $1,016 | $1,483 | $2,247 |
Source: Ownwell