Riverton, West Virginia Property Taxes
The median property tax rate in Riverton, WV is 0.41%, 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 Riverton at $92,950, the typical annual property tax bill amounts to $369, well below the national median of $2,690. Property taxes in Riverton 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 Riverton'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 Riverton or another part of Pendleton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Riverton, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$381
Ownwell’s Riverton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Riverton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Riverton 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 Riverton, West Virginia
Property taxes in Riverton, 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 Riverton is 0.41%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Riverton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Riverton 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 Riverton's effective property tax rate to other areas in Pendleton County and the national median. For comparison, the zip code 26814 has both the highest and lowest median property tax rate of 0.41%. Understanding how these cities compare with Riverton provides valuable insights into the varying tax landscape across Pendleton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Riverton Tax Rate
0.41%
Average Pendleton County Tax Rate
0.41%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Riverton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26814 | 0.29% | 0.37% | 0.41% | 0.41% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Riverton, West Virginia
In Riverton, 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 Pendleton 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 Riverton, 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 Riverton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Riverton is $369 in the 26814 zip code, while the lowest median tax bill is also $369 in the same zip code.
Average Riverton Assessed Value
$92,950
Average Pendleton County Assessed Value
$98,400
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Riverton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26814 | $20,440 | $59,375 | $92,950 | $151,650 | $221,480 |
Source: Ownwell
Property Tax Bills Across Riverton, West Virginia
In Riverton, located in Pendleton County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, the median home price in Riverton is $92,950. Tax rates are applied to this assessed value to determine the annual tax bill. Various factors, such as property size, location, and improvements, can influence the assessed value. Homeowners in Riverton can expect their tax bills to vary significantly. At the 25th percentile, tax bills are around $233, while those in the 75th percentile see bills closer to $625. For the top 10% of property values, tax bills can reach up to $1,081. These figures are relatively modest compared to the national median property tax rate of 0.99%. Understanding how these factors contribute to tax bills helps homeowners budget accordingly and plan for potential increases in their property taxes, ensuring they are prepared for any financial implications.
Average Riverton Tax Bill
$369
Average Pendleton County Tax Bill
$396
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Riverton, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26814 | $93 | $233 | $369 | $625 | $1,081 |
Source: Ownwell