26161 Property Tax Rate

Property owners in ZIP code 26161 (Petroleum, West Virginia) pay a median of $1,007/year in property taxes on homes valued at $176,500. This translates to an effective tax rate of 0.57%, which is 6% above the West Virginia state average of 0.54%.

The monthly property tax burden for a median-valued home in 26161 is approximately $84, which factors into escrow payments on mortgages. This ZIP code is located within Ritchie County. This is $346 more than the West Virginia average of $661/year.

Compared to similar ZIP codes in West Virginia, 26161 has higher property taxes. ZIP codes with similar effective rates include 25422 (0.57%) and 26218 (0.57%).

In Petroleum, property taxes represent approximately 2.0% of the median household income of $50,568, providing context for the relative tax burden on homeowners in this area.

West Virginia reassesses property at fair market value upon sale, with the county assessor establishing the new tax base. Ritchie County offers a Homestead Exemption for primary residences and senior/disabled owner exemptions — contact the Ritchie County Assessor's office to file your application and confirm eligibility. After purchase, request a property assessment review from the Ritchie County Assessor to ensure accurate valuation and identify any available exemptions.