Gallipolis Ferry, West Virginia Property Taxes
The median property tax rate in Gallipolis Ferry, WV is 0.71%, slightly below both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $59,900 in Gallipolis Ferry, the typical annual property tax bill amounts to $395, significantly lower than the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Navigating Gallipolis Ferry'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 Gallipolis Ferry or another part of Mason County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gallipolis Ferry, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$425
Ownwell’s Gallipolis Ferry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gallipolis Ferry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gallipolis Ferry 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 Gallipolis Ferry, West Virginia
Property taxes in Gallipolis Ferry, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gallipolis Ferry is 0.41%, significantly lower than the U.S. national median of 0.99%. Local government entities within Gallipolis Ferry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gallipolis Ferry 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 Gallipolis Ferry's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25515 zip code has both the highest and lowest median property tax rate of 0.41%. Understanding how these cities compare with Gallipolis Ferry provides valuable insights into the varying tax landscape across Mason County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gallipolis Ferry Tax Rate
0.71%
Average Mason County Tax Rate
0.71%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gallipolis Ferry, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25515 | 0.33% | 0.50% | 0.71% | 0.71% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Gallipolis Ferry, West Virginia
In Gallipolis Ferry, 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 Mason 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 Gallipolis Ferry, 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 Gallipolis Ferry helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $395.00 in the 25515 zip code, while the lowest is also $395.00 in the same zip code.
Property Tax Assessment Values Across Gallipolis Ferry, West Virginia
Source: Ownwell
$11,400
$59,350
$107,300
Average Gallipolis Ferry Assessed Value
$59,900
Average Mason County Assessed Value
$68,400
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gallipolis Ferry, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25515 | $1,680 | $24,750 | $59,900 | $95,100 | $136,340 |
Source: Ownwell
Property Tax Bills Across Gallipolis Ferry, West Virginia
In Gallipolis Ferry, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. Homeowners in Mason County can expect property tax bills that vary significantly depending on the assessed value of their property. For example, the median home price in Gallipolis Ferry is $59,900, and property tax bills can range from $190 at the 25th percentile to $657 at the 75th percentile, with the 90th percentile reaching up to $1,001. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. This variability means that while some homeowners might find their property taxes manageable, others with higher-valued properties or fewer exemptions might face steeper bills. It's important for homeowners to understand these factors, as they directly impact the affordability and financial planning associated with homeownership. Comparatively, the national median property tax rate stands at 0.99%, highlighting how local rates and assessments can differ widely.
Average Gallipolis Ferry Tax Bill
$395
Average Mason County Tax Bill
$486
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Gallipolis Ferry, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25515 | $79 | $190 | $395 | $657 | $1,001 |
Source: Ownwell