Fairdale, West Virginia Property Taxes
The median property tax rate in Fairdale, WV is 0.72%, aligning with the state median but still lower than the national median of 0.99%. With a median home value of $49,700 in Fairdale, the typical annual property tax bill amounts to $333, significantly below the national median of $2,690. Property taxes in Fairdale are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Fairdale'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 Fairdale 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
Fairdale, 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 Fairdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairdale 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 Fairdale, West Virginia
Property taxes in Fairdale, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairdale is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Fairdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairdale 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. Understanding how Fairdale's effective property tax rate compares to other areas in Raleigh County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairdale 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 Fairdale, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25839 | 0.25% | 0.50% | 0.72% | 0.72% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Fairdale, West Virginia
In Fairdale, 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 Appraisal District 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 Fairdale, 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. For instance, the median home price in Fairdale is $49,700, with tax bills ranging from $147 at the 25th percentile to $844 at the 90th percentile. The zip code 25839 has both the highest and lowest median tax bill at $333. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. This awareness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fairdale Assessed Value
$49,700
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 Fairdale, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25839 | $11,660 | $25,950 | $49,700 | $79,050 | $114,520 |
Source: Ownwell
Property Tax Bills Across Fairdale, West Virginia
In Fairdale, Raleigh County, WV, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value is a percentage of the market value of the home. Once the assessed value is established, the local tax rate, known as the millage rate, is applied to calculate the property tax bill. The median home price in Fairdale is $49,700, which significantly influences the tax bill. Several factors impact the tax bill, including property improvements, changes in market conditions, and local government budget needs. Homeowners in Fairdale can expect a range of property tax bills, with the 25th percentile tax bill at $147 and the 75th percentile at $556. The 90th percentile tax bill can go up to $844. Compared to the national median property tax rate of 0.99%, Fairdale's tax rates may seem more manageable, making it an attractive location for homeowners looking for lower property tax obligations.
Average Fairdale Tax Bill
$333
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairdale, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25839 | $60 | $147 | $333 | $556 | $844 |
Source: Ownwell