Valley Head, West Virginia Property Taxes
The median property tax rate in Valley Head, WV is 0.40%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Valley Head at $47,300, the typical annual property tax bill is $206, well below the national median of $2,690. Property taxes in Valley Head are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Valley Head'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 Valley Head 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
Valley Head, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$189
Ownwell’s Valley Head Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Valley Head with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valley Head 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 Valley Head, West Virginia
Property taxes in Valley Head, 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 Valley Head is 0.40%, which is lower than the U.S. national median of 0.99%. Local government entities within Valley Head set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valley Head 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 Valley Head's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26294 has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Valley Head 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 Valley Head 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 Valley Head, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26294 | 0.24% | 0.40% | 0.40% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Valley Head, West Virginia
In Valley Head, 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 Valley Head, 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 Valley Head is $47,300, with tax bills ranging from $122 at the 25th percentile to $583 at the 90th percentile. The zip code with both the highest and lowest median tax bills is 26294, with a median tax bill of $206. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Valley Head, West Virginia
Source: Ownwell
$28,000
$66,900
$105,800
Average Valley Head Assessed Value
$47,300
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 Valley Head, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26294 | $4,500 | $26,300 | $47,300 | $78,600 | $133,720 |
Source: Ownwell
Property Tax Bills Across Valley Head, West Virginia
In Valley Head, Randolph County, WV, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the county assessor and is typically a percentage of the market value. Various factors such as property size, location, and condition are considered during the assessment process. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Valley Head, property taxes can vary significantly. The tax bill at the 25th percentile is $122, while at the 75th percentile, it is $329. At the 90th percentile, homeowners might see a tax bill as high as $583. Comparatively, the national median property tax rate is 0.99%, making Valley Head's tax rates relatively moderate. These property taxes are crucial for funding local services such as public schools, infrastructure, and emergency services. Understanding how these taxes are calculated can help homeowners budget effectively and appreciate the value these contributions bring to their community.
Average Valley Head Tax Bill
$206
Average Randolph County Tax Bill
$381
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Valley Head, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26294 | $42 | $122 | $206 | $329 | $583 |
Source: Ownwell