Gerrardstown, West Virginia Property Taxes
The median property tax rate in Gerrardstown, WV is 0.76%, slightly higher than the state median of 0.72% but below the national median of 0.99%. With a median home value of $179,250, the typical annual property tax bill in Gerrardstown is $1,406, which is lower than the national median of $2,690. Property taxes in Gerrardstown are calculated based on the assessed value, generally lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Gerrardstown'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 Gerrardstown 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
Gerrardstown, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,362
Ownwell’s Gerrardstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gerrardstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gerrardstown 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 Gerrardstown, West Virginia
Property taxes in Gerrardstown, West Virginia, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Gerrardstown is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Gerrardstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gerrardstown 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 Gerrardstown's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25420 zip code has the highest median property tax rate of 0.76%, while the same zip code has the lowest median tax rate of 0.76%. Understanding how these areas compare with Gerrardstown provides valuable insights into the varying tax landscape across Berkeley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gerrardstown Tax Rate
0.76%
Average Berkeley County Tax Rate
0.76%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gerrardstown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25420 | 0.61% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Gerrardstown, West Virginia
In Gerrardstown, 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 Berkeley 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 Gerrardstown, 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 Gerrardstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Gerrardstown, the zip code with the highest median tax bill is 25420, with a median tax bill of $1,406. Conversely, the same zip code also reports the lowest median tax bill of $1,406.
Property Tax Assessment Values Across Gerrardstown, West Virginia
Source: Ownwell
$129,800
$206,700
$283,600
Average Gerrardstown Assessed Value
$179,250
Average Berkeley County Assessed Value
$188,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gerrardstown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25420 | $86,600 | $123,125 | $179,250 | $292,625 | $391,300 |
Source: Ownwell
Property Tax Bills Across Gerrardstown, West Virginia
In Gerrardstown, Berkeley County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the market value of the property. Homeowners in Gerrardstown can expect their property tax bills to vary significantly, depending on the assessed value and the local tax rate. For instance, homes in the 25th percentile have tax bills around $934, while those in the 75th percentile see bills closer to $2,227. The highest median tax bill in the area is $1,406, which is notably lower than the national median property tax rate of 0.99%. Factors such as property improvements, location, and market trends can influence the assessed value, thereby affecting the tax bill. For homeowners, understanding these factors is crucial as they directly impact annual expenses, potentially affecting decisions on property investments and homeownership affordability.
Average Gerrardstown Tax Bill
$1,406
Average Berkeley County Tax Bill
$1,510
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Gerrardstown, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25420 | $643 | $934 | $1,406 | $2,227 | $2,969 |
Source: Ownwell