Ellamore, Randolph County, West Virginia Property Taxes
The median property tax rate in Ellamore, 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 $28,000 in Ellamore, the typical annual property tax bill is approximately $158, which is well below the national median of $2,690. Property taxes in Ellamore are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Ellamore'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 Ellamore or another part of Randolph County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ellamore, Randolph County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$112
$104
Ownwell’s Ellamore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ellamore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ellamore 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 Ellamore, Randolph County, West Virginia
Property taxes in Ellamore, West Virginia, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Ellamore is 0.40%, significantly lower than the U.S. national median of 0.99%. Local government entities within Ellamore set these rates annually, and they can vary across different neighborhoods. Each year, Ellamore 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 Ellamore's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26267 has the highest median property tax rate of 0.40%, while the same zip code also has the lowest median tax rate of 0.40%. Understanding how these cities compare with Ellamore 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 Ellamore 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 Ellamore, Randolph County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26267 | 0.32% | 0.40% | 0.40% | 0.40% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Ellamore, Randolph County, West Virginia
In Ellamore, 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 Randolph 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 Ellamore, 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 Ellamore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Ellamore is 26267, with a median tax bill of $158.
Property Tax Assessment Values Across Ellamore, Randolph County, West Virginia
Source: Ownwell
$28,000
$66,900
$105,800
Average Ellamore Assessed Value
$28,000
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 Ellamore, Randolph County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26267 | $7,240 | $16,900 | $28,000 | $62,200 | $115,540 |
Source: Ownwell
Property Tax Bills Across Ellamore, Randolph County, West Virginia
In Ellamore, located in Randolph County, WV, property tax bills are calculated based on the assessed value of a home. The assessed value is derived from the market value but is typically a fraction of it, ensuring a fair taxation process. Homeowners in Ellamore experience varying tax bills, influenced by factors such as property size, location, and improvements made to the property. For example, the median home price in Ellamore is $28,000, and tax bills can range significantly. At the 25th percentile, homeowners might see a tax bill as low as $70, whereas those at the 75th percentile could pay around $287. The 90th percentile indicates even higher tax bills, reaching up to $547. These figures highlight the diversity in tax burdens among residents, which can impact financial planning and housing affordability. Compared to the national median property tax rate of 0.99%, Ellamore's property tax rates reflect the region's unique economic landscape, providing context for homeowners when assessing their annual tax obligations.
Average Ellamore Tax Bill
$158
Average Randolph County Tax Bill
$381
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Ellamore, Randolph County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26267 | $49 | $70 | $158 | $287 | $547 |
Source: Ownwell