Worthington, West Virginia Property Taxes
The median property tax rate in Worthington, WV is 0.74%, slightly above the state median of 0.72% but still below the national median of 0.99%. With a median home value of $73,900, the typical annual property tax bill in Worthington amounts to $577, which is significantly lower than the national median of $2,690. Property taxes in Worthington are determined based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Worthington’s property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Worthington or another part of Marion County, familiarizing yourself with the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Worthington, 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 Worthington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Worthington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Worthington 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 Worthington, West Virginia
Property taxes in Worthington, 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 Worthington is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Worthington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Worthington 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 Worthington's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 26591 has both the highest and lowest median property tax rate of 0.74%, identical to Worthington. Understanding how these areas compare with Worthington provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Worthington Tax Rate
0.74%
Average Marion County Tax Rate
0.74%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Worthington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26591 | 0.45% | 0.63% | 0.74% | 0.74% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Worthington, West Virginia
In Worthington, 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 Marion 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 Worthington, 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. For instance, the median home price in Worthington is $73,900, with tax bills ranging from $300 at the 25th percentile to $1,350 at the 90th percentile. The highest and lowest median tax bills are both $577, found in the 26591 zip code. 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 Worthington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Worthington, West Virginia
Source: Ownwell
$7,100
$122,075
$237,050
Average Worthington Assessed Value
$73,900
Average Marion County Assessed Value
$104,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Worthington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26591 | $12,380 | $40,500 | $73,900 | $114,900 | $179,520 |
Source: Ownwell
Property Tax Bills Across Worthington, West Virginia
In Worthington, WV, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The local tax rate, also known as the millage rate, is then applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's market value, the local tax rate, and any applicable exemptions or deductions. Homeowners in Worthington can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $300, while the 75th percentile reaches $905. At the 90th percentile, homeowners might see bills as high as $1,350. These variations highlight the impact of property values and local tax rates on individual tax bills. Comparatively, the median tax bill in Worthington's county is $577, which is lower than the national median property tax rate of 0.99%. This relatively lower tax burden can be beneficial for homeowners, making it more affordable to own property in this area.
Average Worthington Tax Bill
$577
Average Marion County Tax Bill
$886
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Worthington, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26591 | $109 | $300 | $577 | $905 | $1,350 |
Source: Ownwell