Gallagher, West Virginia Property Taxes
The median property tax rate in Gallagher, WV is 0.77%, slightly lower than the national median of 0.99% but higher than the West Virginia state median of 0.72%. With the median home value in Gallagher being $30,800, the typical annual property tax bill is $217, significantly below the national median of $2,690. Property taxes in Gallagher are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gallagher'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 Gallagher 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
Gallagher, 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 Gallagher Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gallagher with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gallagher 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 Gallagher, West Virginia
Property taxes in Gallagher, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gallagher is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Gallagher set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gallagher 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 Gallagher's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 25083 has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these areas compare with Gallagher provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gallagher Tax Rate
0.77%
Average Fayette County Tax Rate
0.77%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gallagher, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25083 | 0.17% | 0.49% | 0.77% | 0.80% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Gallagher, West Virginia
In Gallagher, 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 local appraisal authorities 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 Gallagher, 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 Gallagher helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $217.00 in zip code 25083, while the lowest median tax bill is also $217.00 in the same zip code, highlighting the uniformity in tax assessments in Gallagher.
Average Gallagher Assessed Value
$30,800
Average Fayette County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gallagher, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25083 | $3,000 | $7,700 | $30,800 | $36,900 | $69,220 |
Source: Ownwell
Property Tax Bills Across Gallagher, West Virginia
In Gallagher, located in Fayette County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Gallagher is $30,800. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Factors such as property improvements, market conditions, and neighborhood trends can influence the assessed value. Homeowners in Gallagher typically see a range of tax bills. At the 25th percentile, the tax bill is around $52, while at the 75th percentile, it increases to $330. For those at the 90th percentile, the tax bill can reach up to $414. The highest median tax bill in the area is $217, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more affordable for residents, although it may also reflect lower property values in the region. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Gallagher Tax Bill
$217
Average Fayette County Tax Bill
$424
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Gallagher, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25083 | $25 | $52 | $217 | $330 | $414 |
Source: Ownwell