Grant Town, West Virginia Property Taxes
The median property tax rate in Grant Town, WV is 0.89%, which is slightly below the national median of 0.99% but higher than the West Virginia state median of 0.72%. With a median home value of $62,150 in Grant Town, the typical annual property tax bill is around $536, significantly lower than the national median of $2,690. Property taxes in Grant Town 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 Grant Town'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 Grant Town or another part of Marion County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grant Town, 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 Grant Town Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grant Town with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grant Town 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 Grant Town, West Virginia
Property taxes in Grant Town, 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 Grant Town is 0.89%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Grant Town set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grant Town 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 Grant Town's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26574 has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these areas compare with Grant Town provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grant Town Tax Rate
0.89%
Average Marion County Tax Rate
0.74%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grant Town, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26574 | 0.42% | 0.74% | 0.89% | 0.89% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Grant Town, West Virginia
In Grant Town, 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 Marion 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 Grant Town, 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. The median home price in Grant Town is $62,150, with tax bills ranging from $278 at the 25th percentile to $805 at the 75th percentile, and $1,107 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Grant Town, West Virginia
Source: Ownwell
$7,100
$122,075
$237,050
Average Grant Town Assessed Value
$62,150
Average Marion County Assessed Value
$104,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grant Town, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26574 | $10,250 | $39,550 | $62,150 | $81,800 | $105,150 |
Source: Ownwell
Property Tax Bills Across Grant Town, West Virginia
In Grant Town, located in Marion County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Grant Town is $62,150. Homeowners can expect their tax bills to fall within a range depending on various factors, including property size, location, and improvements. For instance, the tax bill at the 25th percentile is approximately $278, while at the 75th percentile, it rises to around $805. At the 90th percentile, the tax bill can reach up to $1,107. The highest median tax bill in the area is $536, associated with the zip code 26574. These figures highlight the variability in tax obligations, which can significantly impact homeowners' annual budgets. Compared to the national median property tax rate of 0.99%, Grant Town's tax bills reflect the local economic conditions and property values, making it crucial for homeowners to understand how their tax bill is determined and plan their finances accordingly.
Average Grant Town Tax Bill
$536
Average Marion County Tax Bill
$886
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Grant Town, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26574 | $88 | $278 | $536 | $805 | $1,107 |
Source: Ownwell