Ravenswood, West Virginia Property Taxes
The median property tax rate in Ravenswood, WV, is 0.75%, slightly higher than the West Virginia state median of 0.72% but below the national median of 0.99%. With a median home value of $82,100 in Ravenswood, the typical annual property tax bill amounts to $668, which is significantly lower than the national median of $2,690. Property taxes in Ravenswood are calculated based on the assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Ravenswood'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 Ravenswood or another part of Jackson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ravenswood, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$616
Ownwell’s Ravenswood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ravenswood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ravenswood 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 Ravenswood, West Virginia
Property taxes in Ravenswood, 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 Ravenswood is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Ravenswood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ravenswood 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 Ravenswood's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26164 has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with Ravenswood provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ravenswood Tax Rate
0.75%
Average Jackson County Tax Rate
0.75%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ravenswood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26164 | 0.44% | 0.60% | 0.75% | 0.90% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Ravenswood, West Virginia
In Ravenswood, 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 Jackson 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 Ravenswood, 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 Ravenswood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 26164, with a tax bill of $668, which is comparable to the lowest median tax bill in the same zip code.
Property Tax Assessment Values Across Ravenswood, West Virginia
Source: Ownwell
$38,400
$97,150
$155,900
Average Ravenswood Assessed Value
$82,100
Average Jackson County Assessed Value
$84,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ravenswood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26164 | $34,100 | $56,400 | $82,100 | $121,700 | $170,480 |
Source: Ownwell
Property Tax Bills Across Ravenswood, West Virginia
In Ravenswood, Jackson County, WV, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Factors such as property size, location, and improvements can influence the assessed value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the tax bill. For instance, the median home price in Ravenswood is $82,100. The tax bill for a property at the 25th percentile is around $401, while at the 75th percentile, it is approximately $1,012. The tax bill at the 90th percentile can go up to $1,413. Compared to the national median property tax rate of 0.99%, Ravenswood's rates are relatively moderate. This means homeowners in Ravenswood may find their property taxes to be more manageable, impacting their overall cost of homeownership favorably.
Average Ravenswood Tax Bill
$668
Average Jackson County Tax Bill
$636
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Ravenswood, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26164 | $199 | $401 | $668 | $1,012 | $1,413 |
Source: Ownwell