Moorefield, West Virginia Property Taxes
The median property tax rate in Moorefield, WV is 0.33%, 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 Moorefield at $345,500, the typical annual property tax bill is $1,132, well below the national median of $2,690. Property taxes in Moorefield are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Moorefield'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 Moorefield or another part of Hampshire County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Moorefield, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$1,140
Ownwell’s Moorefield Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Moorefield. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in the area to provide an accurate property tax bill estimate. This tool offers a clear understanding of your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Moorefield, West Virginia
Property taxes in Moorefield, West Virginia, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Moorefield is 0.33%, which is significantly lower than both the West Virginia state median of 0.57% and the U.S. national median of 0.99%. Local government entities within Moorefield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moorefield 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 Moorefield's effective property tax rate to other counties in West Virginia and the national median. For comparison, the highest median property tax rate in the state is found in Jefferson County, with a rate of 0.81%, while the lowest median tax rate is in Pendleton County at 0.30%. Understanding how these counties compare with Moorefield 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 Moorefield Tax Rate
0.33%
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 Moorefield, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26836 | 0.33% | 0.33% | 0.33% | 0.33% | 0.33% |
Source: Ownwell
Property Tax Assessment Values Across Moorefield, West Virginia
In Moorefield, 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 Moorefield, 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. The median home price in Moorefield is $345,500, with the median property tax bill being $1,132. 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 Moorefield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Moorefield, West Virginia
Source: Ownwell
$61,800
$203,650
$345,500
Average Moorefield Assessed Value
$345,500
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 Moorefield, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26836 | $345,500 | $345,500 | $345,500 | $345,500 | $345,500 |
Source: Ownwell
Property Tax Bills Across Moorefield, West Virginia
In Moorefield, Hampshire County, WV, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and generally reflects a percentage of the property's market value. Factors such as property size, location, and improvements can influence this assessed value. Homeowners in Moorefield can expect their tax bills to align closely with the county's median tax bill, which stands at $1,132. This figure is notably lower than the national median property tax rate of 0.99%, making it a more affordable area in terms of property taxes. The tax bill significantly impacts homeowners by contributing to the overall cost of owning a home. Lower property taxes can make homeownership more accessible and financially manageable, while higher taxes can add to the burden. Understanding how these taxes are calculated helps homeowners plan and budget more effectively.
Average Moorefield Tax Bill
$1,132
Average Hampshire County Tax Bill
$567
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Moorefield, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26836 | $1,132 | $1,132 | $1,132 | $1,132 | $1,132 |
Source: Ownwell