Romney, Hampshire County, West Virginia Property Taxes
Median Romney, WV effective property tax rate: 0.52%, significantly lower than the national median of 1.02%, but lower than the West Virginia state median of 0.72%.
Median Romney, WV home value: $102,300
Median annual Romney, WV tax bill: $580, $1,820 lower than the national median property tax bill of $2,400.
How are property taxes in Hampshire County calculated?
Property taxes in Romney, WV are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Romney’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Romney, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Romney, Hampshire County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.52%
Estimate Property Tax Bill
$532
$494
Property Tax Rates Across Romney, Hampshire County, West Virginia
Local government entities determine tax rates, which can differ significantly within a state. Each year, counties calculate their necessary budget to fund services and then distribute this amount across the total value of all taxable properties in their area. This method establishes the property tax rate. While votes and regulations play a role in setting these rates and budgets, this is essentially the yearly procedure.
In Romney, located in Hampshire County, the effective property tax rate is a notable point of comparison within West Virginia. The median property tax rate in West Virginia is 0.52%, which is significantly lower than the national median property tax rate of 1.02%. This can result in substantial savings for property owners in Romney compared to other parts of the country. Understanding these differences can be crucial for homeowners seeking to manage their property tax obligations effectively. By appealing or seeking exemptions, property owners in Romney can potentially reduce their tax burden even further, making it an attractive location for those looking to minimize property-related expenses.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Romney Tax Rate
0.52%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Hampshire County Tax Rate
0.52%
Median Effective West Virginia Tax Rate
0.72%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Romney, Hampshire County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26757 | 0.37% | 0.50% | 0.52% | 0.67% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Romney, Hampshire County, West Virginia
When examining property taxes in Romney, WV, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Hampshire County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Hampshire County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Romney. For example, the median home price in Romney is $102,300, with tax bills ranging significantly across the county. Zip code 26757 has the highest median home price at $102,300.
Property Tax Assessment Values Across Romney, Hampshire County, West Virginia
Source: Ownwell
$61,800
$107,350
$152,900
Median Romney Market Value
$102,300
Median Hampshire County Market Value
$102,800
Median West Virginia Market Value
$80,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Romney, Hampshire County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26757 | $34,200 | $66,600 | $102,300 | $143,300 | $200,400 |
Source: Ownwell
Property Tax Bills Across Romney, Hampshire County, West Virginia
Median Romney Tax Bill
$580
Median Hampshire County Tax Bill
$567
Median West Virginia Tax Bill
$607
Median United States Tax Bill
$2,400
Property Tax Bills Across Romney, Hampshire County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26757 | $212 | $371 | $580 | $850 | $1,213 |
Source: Ownwell
