Ovapa, Clay County, West Virginia Property Taxes
The median property tax rate in OVAPA, WV is 0.42%, 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 $54,750 in OVAPA, the typical annual property tax bill is $213, which is well below the national median of $2,690. Property taxes in OVAPA are calculated based on the assessed value, which generally falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding OVAPA'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 OVAPA 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
Ovapa, 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
$230
$213
Ownwell’s OVAPA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in OVAPA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in OVAPA 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 Ovapa, Clay County, West Virginia
Property taxes in OVAPA, West Virginia, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in OVAPA is 0.42%, significantly lower than the U.S. national median of 0.99%. Local government entities within OVAPA set these rates annually, and they can vary across different neighborhoods. Each year, OVAPA 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 OVAPA's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 25164 has both the highest and lowest median property tax rate of 0.42%. Understanding how these areas compare with OVAPA 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 Ovapa 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 Ovapa, Clay County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25164 | 0.21% | 0.28% | 0.42% | 0.42% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Ovapa, Clay County, West Virginia
In OVAPA, 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 Clay County Assessor's Office 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 OVAPA, 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 OVAPA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in OVAPA is $213.00 in zip code 25164.
Property Tax Assessment Values Across Ovapa, Clay County, West Virginia
Source: Ownwell
$30,600
$42,800
$55,000
Average Ovapa Assessed Value
$54,750
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 Ovapa, Clay County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25164 | $1,470 | $24,100 | $54,750 | $85,125 | $114,250 |
Source: Ownwell
Property Tax Bills Across Ovapa, Clay County, West Virginia
In OVAPA, 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 annual tax bill. For homeowners in OVAPA, Clay County, the median home price stands at $54,750. The property tax rate in this region results in varied tax bills, with the 25th percentile paying around $126 annually, while those in the 75th percentile pay approximately $364. The 90th percentile faces a tax bill of about $500. These tax bills are influenced by factors such as property size, location, and improvements, which can significantly impact the assessed value. Compared to the national median property tax rate of 0.99%, OVAPA's rates offer a more affordable option for homeowners. However, understanding these factors and how they affect individual tax bills is crucial for homeowners to manage their expenses effectively.
Average Ovapa Tax Bill
$213
Average Clay County Tax Bill
$172
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Ovapa, Clay County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25164 | $70 | $126 | $213 | $364 | $500 |
Source: Ownwell