Moorefield, West Virginia Property Taxes
The median property tax rate in Moorefield, WV is 0.46%, 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 Moorefield at $85,200, the typical annual property tax bill reaches $442, significantly below the national median of $2,690. Property taxes in Moorefield 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 Moorefield'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 Moorefield or another part of Hardy County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Moorefield, 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 Moorefield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moorefield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moorefield 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 Moorefield, West Virginia
Property taxes in Moorefield, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moorefield is 0.46%, which is lower than the U.S. national median of 0.99%. Local government entities within Moorefield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moorefield 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 Moorefield's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26836 has the highest median property tax rate of 0.46%, while the same zip code also has the lowest median tax rate of 0.46%. Understanding how these cities compare with Moorefield provides valuable insights into the varying tax landscape across Hardy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moorefield Tax Rate
0.46%
Average Hardy County Tax Rate
0.46%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moorefield, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26836 | 0.31% | 0.46% | 0.46% | 0.69% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Moorefield, West Virginia
In Moorefield, 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 Hardy 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 Moorefield, 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 Moorefield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Moorefield is 26836, with a median tax bill of $442.00.
Property Tax Assessment Values Across Moorefield, West Virginia
Source: Ownwell
$62,250
$223,375
$384,500
Average Moorefield Assessed Value
$85,200
Average Hardy County Assessed Value
$93,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Moorefield, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26836 | $22,030 | $48,300 | $85,200 | $133,900 | $210,680 |
Source: Ownwell
Property Tax Bills Across Moorefield, West Virginia
In Moorefield, located in Hardy County, WV, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, determined by the county assessor. This value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, the median home price in Moorefield is $85,200, which serves as a reference point for calculating taxes. Several factors influence the tax bill, including property size, location, and any applicable exemptions. In Moorefield, the 25th percentile tax bill is $236, while the 75th percentile reaches $728, and the 90th percentile can go up to $1,220. These figures highlight the range of tax bills homeowners might expect, depending on their property's specifics. Compared to the national median property tax rate of 0.99%, Moorefield's rates offer a relatively moderate burden on homeowners, making it an attractive place for property ownership. This system ensures that homeowners contribute fairly to local services and infrastructure based on their property's value.
Average Moorefield Tax Bill
$442
Average Hardy County Tax Bill
$439
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Moorefield, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26836 | $129 | $236 | $442 | $728 | $1,220 |
Source: Ownwell