Clay, Clay County, West Virginia Property Taxes
The median property tax rate in Clay, WV is 0.42%, 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 Clay, the typical annual property tax bill is $198, well below the national median of $2,690. Property taxes in Clay are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Clay'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 Clay 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
Clay, Clay County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$165
$153
Ownwell’s Clay Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clay 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 Clay, Clay County, West Virginia
Property taxes in Clay, 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 Clay is 0.42%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Clay set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clay 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 Clay's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25043 has both the highest and lowest median property tax rate of 0.42%. Understanding how these cities compare with Clay provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clay Tax Rate
0.42%
Average Clay County Tax Rate
0.42%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clay, Clay County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25043 | 0.21% | 0.42% | 0.42% | 0.84% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Clay, Clay County, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Clay, West Virginia. 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 Clay County Assessor 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 Clay, 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. For example, the highest and lowest median tax bills in Clay are both $198.00, found in zip code 25043. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Clay, Clay County, West Virginia
Source: Ownwell
$30,600
$42,800
$55,000
Average Clay Assessed Value
$39,250
Average Clay County Assessed Value
$39,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clay, Clay County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25043 | $9,400 | $20,225 | $39,250 | $63,100 | $93,950 |
Source: Ownwell
Property Tax Bills Across Clay, Clay County, West Virginia
In Clay, WV, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value, and this percentage can vary. Once the assessed value is established, the tax rate, or millage rate, is applied to calculate the annual tax bill. Several factors influence the tax bill, including the property's location, size, and improvements. In Clay, the median home price is $39,250, leading to varying tax bills. Homeowners in the 25th percentile can expect a tax bill of around $95, while those in the 75th percentile might see a bill closer to $331. At the 90th percentile, tax bills can reach up to $463. These property taxes fund essential public services like schools, roads, and emergency services. Compared to the national median property tax rate of 0.99%, Clay's rates reflect the local economic conditions and property values, impacting homeowners' financial planning and overall cost of living.
Average Clay Tax Bill
$198
Average Clay County Tax Bill
$172
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Clay, Clay County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25043 | $51 | $95 | $198 | $331 | $463 |
Source: Ownwell