Reedsville, West Virginia Property Taxes
The median property tax rate in Reedsville, WV is 0.64%, considerably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Reedsville at $112,850, the typical annual property tax bill reaches $726, significantly below the national median of $2,690. Property taxes in Reedsville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Reedsville'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 Reedsville or another part of Preston County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Reedsville, West Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,440
Ownwell’s Reedsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reedsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reedsville 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 Reedsville, West Virginia
Property taxes in Reedsville, 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 Reedsville is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Reedsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reedsville 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 Reedsville's effective property tax rate to other areas in West Virginia and the national median. For comparison, the 26547 zip code has the same median property tax rate of 0.64%. Understanding how these areas compare with Reedsville provides valuable insights into the varying tax landscape across Preston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Reedsville Tax Rate
0.64%
Average Preston County Tax Rate
0.64%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reedsville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26547 | 0.45% | 0.53% | 0.64% | 0.64% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Reedsville, West Virginia
In Reedsville, 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 Preston 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 Reedsville, 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 Reedsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Reedsville are both $726, found in zip code 26547.
Property Tax Assessment Values Across Reedsville, West Virginia
Source: Ownwell
$22,100
$93,000
$163,900
Average Reedsville Assessed Value
$112,850
Average Preston County Assessed Value
$68,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Reedsville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26547 | $8,330 | $62,950 | $112,850 | $152,575 | $201,410 |
Source: Ownwell
Property Tax Bills Across Reedsville, West Virginia
In Reedsville, Preston County, WV, property tax bills are calculated based on the assessed value of a home, which is often a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. For instance, with a median home price of $112,850, homeowners can expect a range of tax bills. At the 25th percentile, the tax bill is around $439, while at the 75th percentile, it reaches approximately $1,008. The 90th percentile sees tax bills as high as $1,356. Several factors influence these tax bills, including property location within the county, property size, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Reedsville's rates can vary significantly. Homeowners in the zip code 26547, for example, experience a median tax bill of $726, which is relatively moderate. These variations affect homeowners by impacting the overall affordability and financial planning related to property ownership.
Average Reedsville Tax Bill
$726
Average Preston County Tax Bill
$473
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Reedsville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26547 | $187 | $439 | $726 | $1,008 | $1,356 |
Source: Ownwell