Dorothy, West Virginia Property Taxes
The median property tax rate in Dorothy, WV is 0.72%, aligning with the state median but below the national median of 0.99%. With the median home value in Dorothy being $24,000, the typical annual property tax bill is $170, significantly lower than the national median of $2,690. Property taxes in Dorothy are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Dorothy'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 Dorothy or another part of Raleigh County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dorothy, 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 Dorothy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dorothy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dorothy 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 Dorothy, West Virginia
Property taxes in Dorothy, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dorothy is 0.72%, lower than the U.S. national median of 0.99%. Local government entities within Dorothy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dorothy 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 Dorothy's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25060 zip code has both the highest and lowest median property tax rate of 0.72%. Understanding how these cities compare with Dorothy provides valuable insights into the varying tax landscape across Raleigh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dorothy Tax Rate
0.72%
Average Raleigh County Tax Rate
0.72%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dorothy, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25060 | 0.23% | 0.72% | 0.72% | 1.44% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Dorothy, West Virginia
In Dorothy, 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 Raleigh 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 Dorothy, 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 Dorothy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Dorothy is $170 in the zip code 25060.
Average Dorothy Assessed Value
$24,000
Average Raleigh County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dorothy, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25060 | $4,060 | $10,600 | $24,000 | $32,900 | $43,480 |
Source: Ownwell
Property Tax Bills Across Dorothy, West Virginia
In Dorothy, Raleigh County, WV, property tax bills are calculated based on the assessed value of your home, which is derived from its market value. The median home price in Dorothy is $24,000. Property taxes in this region are influenced by several factors, including the property’s assessed value and the local tax rate. The assessed value is a percentage of the market value, and the tax rate is applied to this assessed value to determine the annual tax bill. For example, in Dorothy, the tax bill for the 25th percentile is $62, while the 75th percentile tax bill is $262. At the 90th percentile, homeowners might see tax bills as high as $437. These figures illustrate the range of property tax burdens within the community. Compared to the national median property tax rate of 0.99%, homeowners in Dorothy generally face lower property tax bills. This lower tax burden can make homeownership more affordable, but it also means fewer resources for local services funded by property taxes.
Average Dorothy Tax Bill
$170
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Dorothy, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25060 | $23 | $62 | $170 | $262 | $437 |
Source: Ownwell