Murraysville, West Virginia Property Taxes
The median property tax rate in Murraysville, WV is 0.75%, slightly higher than the state median of 0.72% but lower than the national median of 0.99%. With the median home value in Murraysville at $75,750, the typical annual property tax bill is $636, which is significantly below the national median of $2,690. Property taxes in Murraysville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Murraysville'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 Murraysville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Murraysville, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$568
Ownwell’s Murraysville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Murraysville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Murraysville 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 Murraysville, West Virginia
Property taxes in Murraysville, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Murraysville is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Murraysville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Murraysville 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 Murraysville's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26164 zip code has the highest median property tax rate of 0.75%, while the lowest median tax rate is also 0.75%. Understanding how these cities compare with Murraysville provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Murraysville Tax Rate
0.75%
Average Jackson County Tax Rate
0.75%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Murraysville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26164 | 0.57% | 0.69% | 0.75% | 0.93% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Murraysville, West Virginia
In Murraysville, 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 Jackson County Appraisal District 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 Murraysville, 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 Murraysville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 26164 has the highest and lowest median tax bill at $636, offering a clear benchmark for property owners.
Property Tax Assessment Values Across Murraysville, West Virginia
Source: Ownwell
$38,400
$97,150
$155,900
Average Murraysville Assessed Value
$75,750
Average Jackson County Assessed Value
$84,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Murraysville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26164 | $31,630 | $44,725 | $75,750 | $115,800 | $145,140 |
Source: Ownwell
Property Tax Bills Across Murraysville, West Virginia
In Murraysville, property tax bills are determined by assessing the value of your home and applying the local tax rate. The median home price in this area is $75,750. Property taxes here can vary significantly, with the 25th percentile tax bill at $414 and the 75th percentile reaching $891. For those at the 90th percentile, tax bills can go up to $1,096. The tax bill is influenced by the assessed value of the property, which is determined by local assessors who evaluate factors such as the size, location, and condition of the home. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Homeowners in Murraysville need to budget for these taxes, as they can impact overall housing costs. Compared to the national median property tax rate of 0.99%, Murraysville's property taxes offer a perspective on how regional variations can affect homeowners’ financial planning.
Average Murraysville Tax Bill
$636
Average Jackson County Tax Bill
$636
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Murraysville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26164 | $268 | $414 | $636 | $891 | $1,096 |
Source: Ownwell