Ravencliff, West Virginia Property Taxes
The median property tax rate in Ravencliff, WV is 0.68%, which is notably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $18,900 in Ravencliff, the typical annual property tax bill is $106, significantly below the national median of $2,690. Property taxes in Ravencliff are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Ravencliff'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 Ravencliff or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ravencliff, West Virginia 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 Ravencliff Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ravencliff with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ravencliff 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 Ravencliff, West Virginia
Property taxes in Ravencliff, 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 Ravencliff is 0.54%, significantly lower than the U.S. national median of 0.99%. Local government entities within Ravencliff set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ravencliff 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 Ravencliff's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25913 has the highest median property tax rate of 0.54%, while the same zip code also has the lowest median tax rate of 0.54%. Understanding how these areas compare with Ravencliff provides valuable insights into the varying tax landscape across Wyoming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ravencliff Tax Rate
0.68%
Average Wyoming County Tax Rate
0.68%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ravencliff, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25913 | 0.68% | 0.68% | 0.68% | 0.68% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Ravencliff, West Virginia
In Ravencliff, 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 Wyoming 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 Ravencliff, 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 Ravencliff helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both stand at $106, specifically in the 25913 zip code.
Average Ravencliff Assessed Value
$18,900
Average Wyoming County Assessed Value
$25,000
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ravencliff, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25913 | $1,240 | $13,150 | $18,900 | $26,400 | $31,120 |
Source: Ownwell
Property Tax Bills Across Ravencliff, West Virginia
In Ravencliff, property tax bills are determined based on the assessed value of a home, which is calculated as a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence this calculation, including the home's location, size, and condition. For homeowners in Ravencliff, the median home price is $18,900. The property tax bills vary significantly, with the 25th percentile at $76 and the 75th percentile at $178. At the 90th percentile, homeowners might pay around $236. These values reflect the range of tax burdens within the community, influenced by differing property values and individual assessments. Compared to the national median property tax rate of 0.99%, Ravencliff's property taxes are relatively modest. However, even these lower rates can impact homeowners, especially those on fixed incomes or with limited financial resources. Understanding the factors that contribute to property tax calculations can help residents better anticipate their annual financial obligations.
Average Ravencliff Tax Bill
$106
Average Wyoming County Tax Bill
$190
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Ravencliff, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25913 | $26 | $76 | $106 | $178 | $236 |
Source: Ownwell