Delray, West Virginia Property Taxes
The median property tax rate in Delray, WV is 0.52%, 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 Delray at $61,800, the typical annual property tax bill is $344, well below the national median of $2,690. Property taxes in Delray are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Delray'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 Delray 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
Delray, 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 Delray Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Delray with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Delray to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and plan your finances better. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, assigned by Hampshire County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Delray, West Virginia
Property taxes in Delray, 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 Delray is 0.52%, which is lower than the U.S. national median of 0.99%. Local government entities in Delray set these rates annually, and they can vary significantly across different neighborhoods. Each year, Delray 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 Delray's effective property tax rate to other areas in Hampshire County and the national median. For comparison, the 26714 zip code has both the highest and lowest median property tax rate of 0.52%. Understanding how these areas compare with Delray provides valuable insights into the varying tax landscape across Hampshire County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Delray Tax Rate
0.52%
Average Hampshire County Tax Rate
0.52%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Delray, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26714 | 0.37% | 0.52% | 0.52% | 0.52% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Delray, West Virginia
In Delray, 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 Hampshire 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 Delray, 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 Delray helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 26714, with a median tax bill of $344.
Average Delray Assessed Value
$61,800
Average Hampshire County Assessed Value
$102,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Delray, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26714 | $18,440 | $32,350 | $61,800 | $103,500 | $148,560 |
Source: Ownwell
Property Tax Bills Across Delray, West Virginia
Property tax bills in Delray, Hampshire County, WV, are determined by assessing the value of a property and applying the local tax rate to this assessed value. The median home price in Delray stands at $61,800, which serves as a basis for these calculations. Homeowners can expect their tax bills to vary significantly based on the assessed value of their property. For instance, the tax bill at the 25th percentile is $193, while at the 75th percentile, it rises to $562. At the 90th percentile, the tax bill can be as high as $833. These figures illustrate the range of property tax burdens faced by homeowners in the area. The highest and lowest median tax bills in Hampshire County are both recorded at $344 in the 26714 zip code, indicating some consistency in tax burdens within the county. Compared to the national median property tax rate of 0.99%, Delray's rates offer a perspective on how local property values and tax rates affect homeowners' financial responsibilities.
Average Delray Tax Bill
$344
Average Hampshire County Tax Bill
$567
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Delray, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26714 | $125 | $193 | $344 | $562 | $833 |
Source: Ownwell