Shady Spring, West Virginia Property Taxes
The median property tax rate in Shady Spring, WV is 0.72%, aligning with the state median but lower than the national median of 0.99%. Given the median home value in Shady Spring is $82,700, the typical annual property tax bill amounts to $579, significantly below the national median of $2,690. Property taxes in Shady Spring are based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Shady Spring'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 Shady Spring 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
Shady Spring, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$595
Ownwell’s Shady Spring Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Shady Spring with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shady Spring 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 Raleigh County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Shady Spring, West Virginia
Property taxes in Shady Spring, West Virginia, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Shady Spring is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Shady Spring set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shady Spring 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 Shady Spring's effective property tax rate to other regions in Raleigh County and the national median. For comparison, the zip code 25918 has both the highest and lowest median property tax rate of 0.72%. Understanding how these areas compare with Shady Spring 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 Shady Spring 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 Shady Spring, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25918 | 0.38% | 0.57% | 0.72% | 0.72% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Shady Spring, West Virginia
In Shady Spring, 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 Shady Spring, 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 Shady Spring helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the region is $579, found in the zip code 25918.
Property Tax Assessment Values Across Shady Spring, West Virginia
Source: Ownwell
$6,300
$72,500
$138,700
Average Shady Spring Assessed Value
$82,700
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 Shady Spring, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25918 | $18,360 | $46,950 | $82,700 | $135,450 | $184,340 |
Source: Ownwell
Property Tax Bills Across Shady Spring, West Virginia
In Shady Spring, Raleigh County, WV, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Shady Spring stands at $82,700. To determine the tax bill, local tax authorities apply the property tax rate to this assessed value. Homeowners in Shady Spring can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is $296, while at the 75th percentile, it rises to $976. The 90th percentile tax bill can reach as high as $1,354. These tax bills are influenced by various factors, including property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Shady Spring's property tax rates can have a substantial impact on homeowners, affecting their annual financial planning and overall cost of living. Understanding these nuances is crucial for homeowners to manage their expenses effectively.
Average Shady Spring Tax Bill
$579
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Shady Spring, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25918 | $114 | $296 | $579 | $976 | $1,354 |
Source: Ownwell