Davisville, West Virginia Property Taxes
The median property tax rate in Davisville, WV is 0.66%, 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 Davisville at $84,000, the typical annual property tax bill is $579, well below the national median of $2,690. Property taxes in Davisville 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 Davisville'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 Davisville or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Davisville, 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 Davisville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Davisville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Davisville 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 Davisville, West Virginia
Property taxes in Davisville, 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 Davisville is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Davisville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Davisville 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 Davisville's effective property tax rate to other areas in Wood County and the national median. For comparison, the 26142 zip code has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these areas compare with Davisville provides valuable insights into the varying tax landscape across Wood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Davisville Tax Rate
0.66%
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 Davisville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26142 | 0.41% | 0.55% | 0.66% | 0.66% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Davisville, West Virginia
In Davisville, 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 Wood 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 Davisville, 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 Davisville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $579.00, found in zip code 26142, which is also the lowest median tax bill.
Property Tax Assessment Values Across Davisville, West Virginia
Source: Ownwell
$21,500
$82,725
$143,950
Average Davisville Assessed Value
$84,000
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 Davisville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26142 | $7,090 | $56,925 | $84,000 | $153,550 | $247,390 |
Source: Ownwell
Property Tax Bills Across Davisville, West Virginia
In Davisville, Wood County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value typically reflects a percentage of the market value of the property. Once the assessed value is established, the local tax rate, or millage rate, is applied to calculate the tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For instance, the median home price in Davisville is $84,000. Homeowners in the 25th percentile can expect a tax bill around $350, while those in the 75th percentile might see bills closer to $1,014. At the 90th percentile, tax bills can reach up to $1,638. These property tax bills significantly impact homeowners, influencing decisions on buying, selling, and maintaining properties. Compared to the national median property tax rate of 0.99%, Davisville's property taxes can vary widely, affecting the overall affordability and financial planning for residents.
Average Davisville Tax Bill
$579
Average Wood County Tax Bill
$822
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Davisville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26142 | $147 | $350 | $579 | $1,014 | $1,638 |
Source: Ownwell