Albright, West Virginia Property Taxes
The median property tax rate in Albright, WV is 0.64%, considerably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Albright at $86,000, the typical annual property tax bill is $534, significantly below the national median of $2,690. Property taxes in Albright are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Albright'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 Albright or another part of Preston County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Albright, 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 Albright Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Albright with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Albright 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 Albright, West Virginia
Property taxes in Albright, 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 Albright is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Albright set these rates annually, and they can vary significantly across different neighborhoods. Each year, Albright 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 Albright's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 26519 has both the highest and lowest median property tax rate of 0.64%. Understanding how these areas compare with Albright provides valuable insights into the varying tax landscape across Preston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Albright Tax Rate
0.64%
Average Preston County Tax Rate
0.64%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Albright, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26519 | 0.40% | 0.55% | 0.64% | 0.64% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Albright, West Virginia
In Albright, 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 Preston 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 Albright, 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 Albright helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $534 in zip code 26519, while the lowest median tax bill is also $534 in the same zip code.
Average Albright Assessed Value
$86,000
Average Preston County Assessed Value
$68,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Albright, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26519 | $12,620 | $40,900 | $86,000 | $131,000 | $188,720 |
Source: Ownwell
Property Tax Bills Across Albright, West Virginia
In Albright, located in Preston County, WV, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is a percentage of the market value of the property. Homeowners in Albright experience property tax bills that vary significantly, with the 25th percentile tax bill at $299 and the 75th percentile tax bill reaching $845. The highest median tax bill in the area is $534, found in the zip code 26519. Several factors influence the tax bill, including the market value of the home, the local tax rate, and any applicable exemptions or deductions. For example, a home with a median market price of $86,000 would have its tax bill calculated by applying the local tax rate to its assessed value. This process ensures that homeowners contribute a fair share to community services such as schools, infrastructure, and emergency services. Understanding these factors can help homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Albright Tax Bill
$534
Average Preston County Tax Bill
$473
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Albright, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26519 | $144 | $299 | $534 | $845 | $1,263 |
Source: Ownwell