Dailey, West Virginia Property Taxes
The median property tax rate in Dailey, WV is 0.40%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $89,400 in Dailey, the typical annual property tax bill amounts to $356, which is well below the national median of $2,690. Property taxes in Dailey are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Dailey's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Dailey or another part of Randolph County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dailey, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$358
Ownwell’s Dailey Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Dailey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dailey to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends on a neighborhood level, more localized information is available below. Your property’s assessed value is the value assigned by Randolph County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Dailey, West Virginia
Property taxes in Dailey, 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 Dailey is 0.40%, which is lower than the U.S. national median of 0.99%. Local government entities within Dailey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dailey 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 Dailey's effective property tax rate to other areas in Randolph County and the national median. For comparison, the zip code 26259 has both the highest and lowest median property tax rate of 0.40%. Understanding how these areas compare with Dailey provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dailey Tax Rate
0.40%
Average Randolph County Tax Rate
0.40%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dailey, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26259 | 0.25% | 0.27% | 0.40% | 0.40% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Dailey, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Dailey, West Virginia. The market value represents 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 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 Dailey, 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 Dailey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Dailey are both $356, found in zip code 26259. With a median home price of $89,400, homeowners can expect tax bills ranging from $264 at the 25th percentile to $569 at the 90th percentile.
Average Dailey Assessed Value
$89,400
Average Randolph County Assessed Value
$82,600
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dailey, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26259 | $70,420 | $82,225 | $89,400 | $103,050 | $108,960 |
Source: Ownwell
Property Tax Bills Across Dailey, West Virginia
In Dailey, property tax bills are calculated based on the assessed value of a home, which is determined by the Randolph County Assessor. The median home price in Dailey is $89,400. Property tax rates in Dailey are influenced by the county's needs for public services such as schools, infrastructure, and emergency services. The tax bill can vary significantly depending on the assessed value and specific local tax rates. Homeowners in Dailey typically see property tax bills ranging from $264 at the 25th percentile to $441 at the 75th percentile, with the 90th percentile reaching up to $569. These figures are relatively modest compared to the national median property tax rate of 0.99%. For example, the highest median tax bill in the area, found in zip code 26259, is $356. Understanding these factors can help homeowners better anticipate their annual property tax obligations and manage their household budgets more effectively.
Average Dailey Tax Bill
$356
Average Randolph County Tax Bill
$381
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Dailey, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26259 | $210 | $264 | $356 | $441 | $569 |
Source: Ownwell