Roanoke, West Virginia Property Taxes
The median property tax rate in Roanoke, WV is 0.53%, 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 Roanoke at $79,400, the typical annual property tax bill is $433, much less than the national median of $2,690. Property taxes in Roanoke are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Roanoke'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 Roanoke 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
Roanoke, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$421
Ownwell’s Roanoke Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Roanoke with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roanoke 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 Roanoke, West Virginia
Property taxes in Roanoke, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Roanoke is 0.53%, which is lower than the U.S. national median of 0.99%. Local government entities within Roanoke set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roanoke 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 Roanoke's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26447 has the highest median property tax rate of 0.53%, while the same zip code also has the lowest median tax rate of 0.53%. Understanding how these cities compare with Roanoke provides valuable insights into the varying tax landscape across Lewis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Roanoke Tax Rate
0.53%
Average Lewis County Tax Rate
0.53%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roanoke, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26447 | 0.34% | 0.46% | 0.53% | 0.53% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Roanoke, West Virginia
In Roanoke, 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 Lewis 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 Roanoke, 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. The median home price in Roanoke is $79,400, with tax bills ranging from $227 at the 25th percentile to $1,069 at the 90th percentile. Notably, the zip code 26447 has the highest median tax bill of $433. 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 Roanoke helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Roanoke Assessed Value
$79,400
Average Lewis County Assessed Value
$72,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Roanoke, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26447 | $6,440 | $40,150 | $79,400 | $128,250 | $179,640 |
Source: Ownwell
Property Tax Bills Across Roanoke, West Virginia
In Roanoke, WV, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor and is a percentage of the property's market value. In Lewis County, where Roanoke is located, the median home price is $79,400. Property tax rates and the resulting bills can vary significantly within the area. For example, the 25th percentile tax bill is approximately $227, while the 75th percentile tax bill is around $691. At the 90th percentile, homeowners can expect to pay about $1,069 in property taxes. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These tax bills directly impact homeowners by contributing to their annual financial obligations. Compared to the national median property tax rate of 0.99%, Roanoke's property tax rates suggest a relatively moderate tax burden for homeowners, providing a balanced approach to funding local services and infrastructure.
Average Roanoke Tax Bill
$433
Average Lewis County Tax Bill
$437
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Roanoke, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26447 | $93 | $227 | $433 | $691 | $1,069 |
Source: Ownwell