Ivydale, Clay County, West Virginia Property Taxes
The median property tax rate in Ivydale, 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 Ivydale at $40,850, the typical annual property tax bill is $174, well below the national median of $2,690. Property taxes in Ivydale are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ivydale'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 Ivydale 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
Ivydale, 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
$172
$159
Ownwell’s Ivydale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ivydale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ivydale 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 Ivydale, Clay County, West Virginia
Property taxes in Ivydale, 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 Ivydale is 0.42%, significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Ivydale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ivydale 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 Ivydale's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25113 zip code has the highest median property tax rate of 0.42%, while the same zip code also has the lowest median tax rate of 0.42%. Understanding how these cities compare with Ivydale 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 Ivydale 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 Ivydale, Clay County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25113 | 0.16% | 0.30% | 0.42% | 0.42% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Ivydale, Clay County, West Virginia
In Ivydale, 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 local 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 Ivydale, 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 Ivydale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Ivydale is $174.00 in zip code 25113.
Property Tax Assessment Values Across Ivydale, Clay County, West Virginia
Source: Ownwell
$30,600
$42,800
$55,000
Average Ivydale Assessed Value
$40,850
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 Ivydale, Clay County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25113 | $9,310 | $21,575 | $40,850 | $72,325 | $107,030 |
Source: Ownwell
Property Tax Bills Across Ivydale, Clay County, West Virginia
In Ivydale, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final amount, including the property's location within Clay County, its market value, and any applicable exemptions or deductions. For homeowners in Ivydale, the median home price is $40,850. Property tax bills can vary significantly, with the 25th percentile at $95 and the 75th percentile reaching $297. At the higher end, the 90th percentile tax bill is $434. These figures indicate that while some homeowners may pay relatively low property taxes, others could face higher bills depending on their property's assessed value and specific circumstances. Understanding how these factors interplay is crucial for homeowners, as property taxes directly impact annual housing costs and overall financial planning. Comparing these figures to the national median property tax rate of 0.99% provides a clearer perspective on how property taxes in Ivydale align with broader trends.
Average Ivydale Tax Bill
$174
Average Clay County Tax Bill
$172
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Ivydale, Clay County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25113 | $44 | $95 | $174 | $297 | $434 |
Source: Ownwell