Walkersville, West Virginia Property Taxes
The median property tax rate in Walkersville, WV is 0.53%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Walkersville at $62,550, the typical annual property tax bill amounts to $349, which is well below the national median of $2,690. Property taxes in Walkersville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Walkersville'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 Walkersville or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Walkersville, 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 Walkersville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Walkersville with ease. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Walkersville to provide an accurate estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities, making financial planning more straightforward. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Remember, your property's assessed value is determined by the county for tax calculations, including any applicable exemptions.
Property Tax Rates Across Walkersville, West Virginia
Property taxes in Walkersville, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walkersville is 0.53%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Walkersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walkersville 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 Walkersville's effective property tax rate to other counties in West Virginia and the national median. For comparison, the ZIP code 26447 has both the highest and lowest median property tax rate of 0.53%. Understanding how these areas compare with Walkersville provides valuable insights into the varying tax landscape across Lewis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walkersville Tax Rate
0.53%
Average Lewis County Tax Rate
0.53%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walkersville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26447 | 0.34% | 0.53% | 0.53% | 0.55% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Walkersville, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Walkersville, West Virginia. 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 Lewis 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 Walkersville, 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 Walkersville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 26447 has the highest and lowest median tax bill, both at $349.
Property Tax Assessment Values Across Walkersville, West Virginia
Source: Ownwell
$45,500
$79,275
$113,050
Average Walkersville Assessed Value
$62,550
Average Lewis County Assessed Value
$72,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walkersville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26447 | $7,720 | $28,075 | $62,550 | $109,200 | $184,040 |
Source: Ownwell
Property Tax Bills Across Walkersville, West Virginia
In Walkersville, WV, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. This assessed value is a percentage of the market value of your property. For example, in Walkersville, the median home price is $62,550. The property tax rate in this region is then applied to this assessed value to determine your annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Walkersville, the tax bill can vary significantly. At the 25th percentile, the tax bill is around $164, while at the 75th percentile, it reaches $657. The 90th percentile sees tax bills as high as $1,089. These figures illustrate how property taxes can impact homeowners differently based on their property's assessed value. Compared to the national median property tax rate of 0.99%, Walkersville's tax rates offer a contrast that can affect financial planning and homeownership costs in the region.
Average Walkersville Tax Bill
$349
Average Lewis County Tax Bill
$437
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Walkersville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26447 | $91 | $164 | $349 | $657 | $1,089 |
Source: Ownwell