Odd, West Virginia Property Taxes
The median property tax rate in ODD, WV is 0.72%, which matches the state median but is lower than the national median of 0.99%. With the median home value in ODD being $37,950, the typical annual property tax bill is $243, significantly below the national median of $2,690. Property taxes in ODD are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding ODD'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 ODD or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Odd, 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 ODD Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in ODD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ODD 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 Odd, West Virginia
Property taxes in ODD, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in ODD is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within ODD set these rates annually, and they can vary significantly across different neighborhoods. Each year, ODD 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 ODD's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25902 zip code has the highest median property tax rate of 0.72%, while also having the lowest median tax rate of 0.72%. Understanding how these areas compare with ODD 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 Odd 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 Odd, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25902 | 0.29% | 0.68% | 0.72% | 0.72% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Odd, West Virginia
In ODD, 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 ODD, 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. The median home price in ODD is $37,950, with tax bills ranging from $133 at the 25th percentile to $723 at the 90th percentile. Interestingly, the highest and lowest median tax bills are both $243, found in zip code 25902. Being aware of these valuation processes in ODD helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Odd Assessed Value
$37,950
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 Odd, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25902 | $9,410 | $19,500 | $37,950 | $67,525 | $110,840 |
Source: Ownwell
Property Tax Bills Across Odd, West Virginia
In ODD, Raleigh County, WV, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, the median home price in ODD is $37,950. Homeowners in the 25th percentile typically face a tax bill of around $133, while those in the 75th percentile might pay approximately $487. At the 90th percentile, the tax bill can reach up to $723. Several factors influence these tax bills, including the property’s location and any applicable exemptions. The impact on homeowners can vary significantly; lower tax bills may ease financial burdens, while higher bills might strain household budgets. Compared to the national median property tax rate of 0.99%, ODD’s property taxes can be seen as relatively manageable, providing some relief to homeowners in the area.
Average Odd Tax Bill
$243
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Odd, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25902 | $56 | $133 | $243 | $487 | $723 |
Source: Ownwell