Aurora, West Virginia Property Taxes
The median property tax rate in Aurora, WV is 0.64%, which is significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $86,100 in Aurora, the typical annual property tax bill amounts to $535, well below the national median of $2,690. Property taxes in Aurora are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural purposes. Understanding Aurora’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 Aurora or another part of Preston County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Aurora, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$551
Ownwell’s Aurora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Aurora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Aurora 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 Aurora, West Virginia
Property taxes in Aurora, 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 Aurora is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Aurora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Aurora 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 Aurora's effective property tax rate to other areas in Preston County and the national median. For comparison, the zip code 26705 has both the highest and lowest median property tax rate of 0.64%, which is the same as Aurora's rate. Understanding how these areas compare with Aurora 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 Aurora 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 Aurora, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26705 | 0.38% | 0.48% | 0.64% | 0.64% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Aurora, West Virginia
In Aurora, 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 Aurora, 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 Aurora helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Aurora are both $535, found in the 26705 zip code.
Average Aurora Assessed Value
$86,100
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 Aurora, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26705 | $25,780 | $58,400 | $86,100 | $125,500 | $171,120 |
Source: Ownwell
Property Tax Bills Across Aurora, West Virginia
In Aurora, located in Preston County, WV, property tax bills are determined based on assessed property values and the local tax rate. The assessed value is calculated as a percentage of the market value of the home, which is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $86,100, homeowners can expect varying tax bills depending on the assessed value and specific tax rates applied. Factors such as property size, location, and improvements can influence the assessed value, thus impacting the tax bill. In Aurora, tax bills can range significantly, with the 25th percentile paying around $336, while those in the 75th percentile pay approximately $785. The highest tax bills in the 90th percentile can reach up to $1,070. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly affecting homeowners by contributing to the community's overall quality of life.
Average Aurora Tax Bill
$535
Average Preston County Tax Bill
$473
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Aurora, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26705 | $184 | $336 | $535 | $785 | $1,070 |
Source: Ownwell