Josephine, West Virginia Property Taxes
The median property tax rate in Josephine, WV is 0.72%, aligning with the state median but lower than the national median of 0.99%. With a median home value of $14,700 in Josephine, the typical annual property tax bill is $130, significantly less than the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Josephine's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to notable annual savings. Whether you're in the heart of Josephine or another part of Raleigh County, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Josephine, 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 Josephine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Josephine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Josephine 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 Josephine, West Virginia
Property taxes in Josephine, 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 Josephine is 0.58%, which is lower than both the West Virginia state median of 0.59% and the U.S. national median of 0.99%. Local government entities within Josephine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Josephine 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 Josephine's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25857 has the highest median property tax rate of 0.72%, while the lowest median tax rate is also 0.72%, indicating uniformity in tax rates within this region. Understanding how these cities compare with Josephine 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 Josephine 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 Josephine, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25857 | 0.58% | 0.72% | 0.72% | 1.44% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Josephine, West Virginia
In Josephine, 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 Josephine, 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 Josephine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 25857, with a value of $130.00, while the lowest is also 25857, showing a consistent tax landscape within the area.
Average Josephine Assessed Value
$14,700
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 Josephine, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25857 | $1,380 | $5,800 | $14,700 | $24,800 | $40,560 |
Source: Ownwell
Property Tax Bills Across Josephine, West Virginia
In Josephine, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $14,700, homeowners can expect to pay a property tax bill that varies significantly depending on the assessed value and applicable exemptions. Factors such as location, property size, and any improvements made to the property also play a role in determining the tax bill. In Josephine, the 25th percentile tax bill is around $56, while the 75th percentile tax bill can reach up to $193. For those at the 90th percentile, the tax bill can be as high as $338. These figures illustrate the range of property tax burdens that homeowners might face. Compared to the national median property tax rate of 0.99%, Josephine's property tax bills can be relatively modest, providing some relief to homeowners in the area.
Average Josephine Tax Bill
$130
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Josephine, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25857 | $21 | $56 | $130 | $193 | $338 |
Source: Ownwell