Ritchie County Property Taxes
The median property tax rate in Ritchie County is 0.65%, which is lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Ritchie County at $64,450, the typical annual property tax bill is around $428, significantly below the national median of $2,690. Property taxes in Ritchie County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Ritchie County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Harrisville or another part of Ritchie County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ritchie County 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 Ritchie County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Ritchie County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Ritchie County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Ritchie County, West Virginia
Property taxes in Ritchie County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Ritchie County is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Ritchie County set these rates annually, and they can vary significantly between different areas within the county. Each year, Ritchie County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Harrisville has one of the higher property tax rates in the region at 0.66%, while the city of West Union boasts one of the lowest at 0.65%. Analyzing how Ritchie County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Ritchie County Tax Rate
0.65%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ritchie County, West Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Auburn | 0.45% | 0.65% | 0.65% | 0.66% | 0.80% |
| Berea | 0.58% | 0.65% | 0.65% | 0.65% | 0.68% |
| Big Springs | 0.65% | 0.65% | 0.65% | 0.65% | 1.31% |
| Cairo | 0.42% | 0.65% | 0.65% | 0.85% | 1.31% |
| Elizabeth | 0.26% | 0.47% | 0.65% | 0.65% | 0.65% |
| Ellenboro | 0.35% | 0.49% | 0.65% | 0.80% | 0.80% |
| Harrisville | 0.45% | 0.65% | 0.66% | 0.86% | 0.87% |
| Macfarlan | 0.34% | 0.65% | 0.65% | 0.65% | 1.31% |
| Pennsboro | 0.44% | 0.65% | 0.65% | 0.87% | 1.31% |
| Petroleum | 0.37% | 0.63% | 0.65% | 0.65% | 1.31% |
| Pullman | 0.33% | 0.49% | 0.65% | 0.80% | 0.80% |
| Saint Marys | 0.49% | 0.65% | 0.65% | 0.65% | 0.66% |
| Smithville | 0.48% | 0.65% | 0.65% | 0.65% | 0.72% |
| West Union | 0.37% | 0.48% | 0.65% | 0.65% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Ritchie County, West Virginia
In Ritchie County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Ritchie County Appraisal District. The assessed value, however, 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. Assessment notices in Ritchie County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, the highest median tax bill in the county is in Berea at $696, while the lowest is in Big Springs at $232. Being aware of these valuation processes in Ritchie County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Ritchie County, West Virginia
Source: Ownwell
$34,300
$68,800
$103,300
Average Ritchie County Assessed Value
$64,450
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ritchie County, West Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Auburn | $9,550 | $26,600 | $64,600 | $105,375 | $160,600 |
| Berea | $26,340 | $50,050 | $103,300 | $129,400 | $146,760 |
| Big Springs | $1,800 | $9,500 | $34,300 | $70,900 | $102,220 |
| Cairo | $3,900 | $18,100 | $55,600 | $101,500 | $156,560 |
| Elizabeth | $24,450 | $43,250 | $58,600 | $82,500 | $99,100 |
| Ellenboro | $9,720 | $35,050 | $66,100 | $98,550 | $164,900 |
| Harrisville | $13,460 | $39,000 | $78,900 | $120,400 | $180,800 |
| Macfarlan | $4,760 | $19,400 | $46,900 | $85,700 | $137,660 |
| Pennsboro | $9,300 | $30,000 | $62,700 | $102,800 | $165,040 |
| Petroleum | $6,910 | $22,200 | $52,450 | $88,075 | $139,620 |
| Pullman | $12,380 | $33,000 | $56,800 | $105,100 | $144,780 |
| Saint Marys | $28,570 | $47,725 | $68,550 | $104,375 | $122,620 |
| Smithville | $9,400 | $29,400 | $59,100 | $107,500 | $160,540 |
| West Union | $17,140 | $49,400 | $70,800 | $88,200 | $118,980 |
Source: Ownwell
Property Tax Bills Across Ritchie County, West Virginia
In Ritchie County, WV, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in the county is $64,450. Property taxes are determined by multiplying the assessed value by the local tax rate. Various factors, such as property location and applicable exemptions, influence the final tax bill. For example, the tax bill for the 25th percentile is $203, while at the 75th percentile, it reaches $737, and at the 90th percentile, it can go up to $1,163. Comparatively, the national median property tax rate is 0.99%. Homeowners in Ritchie County experience a range of tax burdens, with the highest median tax bill in Berea at $696 and the lowest in Big Springs at $232. These differences significantly impact homeowners, influencing their financial planning and property investment decisions.
Average Ritchie County Tax Bill
$428
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Ritchie County, West Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Auburn | $105 | $217 | $405 | $683 | $1,031 |
| Berea | $150 | $345 | $696 | $860 | $938 |
| Big Springs | $24 | $72 | $232 | $451 | $626 |
| Cairo | $52 | $144 | $364 | $636 | $1,021 |
| Elizabeth | $46 | $115 | $334 | $425 | $587 |
| Ellenboro | $66 | $202 | $401 | $643 | $1,036 |
| Harrisville | $122 | $284 | $545 | $924 | $1,428 |
| Macfarlan | $26 | $135 | $299 | $557 | $900 |
| Pennsboro | $85 | $216 | $455 | $767 | $1,164 |
| Petroleum | $62 | $153 | $293 | $552 | $802 |
| Pullman | $70 | $208 | $376 | $716 | $1,021 |
| Saint Marys | $187 | $269 | $417 | $630 | $790 |
| Smithville | $69 | $184 | $392 | $669 | $1,026 |
| West Union | $101 | $269 | $388 | $702 | $913 |
Source: Ownwell