Barrackville, West Virginia Property Taxes
The median property tax rate in Barrackville, WV is 0.88%, which is lower than the national median of 0.99% but higher than the West Virginia state median of 0.72%. With a median home value of $114,700 in Barrackville, the typical annual property tax bill amounts to $929, which is below the national median of $2,690. Property taxes in Barrackville are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Barrackville'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 Barrackville or another part of Marion County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Barrackville, 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 Barrackville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barrackville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barrackville 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 Barrackville, West Virginia
Property taxes in Barrackville, 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 Barrackville is 0.88%, slightly below the U.S. national median of 0.99%. Local government entities within Barrackville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barrackville 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 Barrackville's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26559 zip code has the median property tax rate of 0.88%. Understanding how these cities compare with Barrackville 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 Barrackville Tax Rate
0.88%
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 Barrackville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26559 | 0.63% | 0.72% | 0.88% | 0.88% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Barrackville, West Virginia
In Barrackville, 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 Barrackville, 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 Barrackville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $929.00, found in the zip code 26559.
Property Tax Assessment Values Across Barrackville, West Virginia
Source: Ownwell
$7,100
$122,075
$237,050
Average Barrackville Assessed Value
$114,700
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 Barrackville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26559 | $18,550 | $38,975 | $114,700 | $149,500 | $190,410 |
Source: Ownwell
Property Tax Bills Across Barrackville, West Virginia
In Barrackville, property tax bills are calculated based on the assessed value of a home, which is determined by the Marion County tax assessor. The assessed value is a percentage of the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Barrackville is $114,700, and the property tax rate in this region is relatively moderate compared to the national median property tax rate of 0.99%. Several factors influence the tax bill, including property location, market conditions, and any applicable exemptions. Homeowners in Barrackville typically see a range of tax bills, with the 25th percentile at $409 and the 75th percentile at $1,275. For those in the 90th percentile, the tax bill can reach up to $1,678. These taxes contribute to local services and infrastructure, impacting overall community quality. Understanding these factors can help homeowners manage their expenses more effectively and plan for future financial needs.
Average Barrackville Tax Bill
$929
Average Marion County Tax Bill
$886
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Barrackville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26559 | $172 | $409 | $929 | $1,275 | $1,678 |
Source: Ownwell