Fairview, West Virginia Property Taxes
The median property tax rate in Fairview, WV is 0.74%, slightly higher than the West Virginia state median of 0.72% but below the national median of 0.99%. With a median home value of $80,600 in Fairview, the typical annual property tax bill is $648, which is significantly lower than the national median of $2,690. Property taxes in Fairview are calculated based on the tax assessed value, often below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Fairview'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 Fairview or another part of Marion County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fairview, 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 Fairview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairview 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 Fairview, West Virginia
Property taxes in Fairview, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairview is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Fairview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairview 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 Fairview's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26570 zip code has both the highest and lowest median property tax rate of 0.74%. Understanding how these cities compare with Fairview 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 Fairview Tax Rate
0.74%
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 Fairview, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26570 | 0.45% | 0.60% | 0.74% | 0.89% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Fairview, West Virginia
In Fairview, 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's Office 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 Fairview, 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 Fairview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Fairview is $648 in the 26570 zip code, while the lowest median tax bill is also $648 in the same zip code.
Average Fairview Assessed Value
$80,600
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 Fairview, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26570 | $13,900 | $48,450 | $80,600 | $131,200 | $189,900 |
Source: Ownwell
Property Tax Bills Across Fairview, West Virginia
In Fairview, WV, property tax bills are calculated based on the assessed value of a home, which is often a percentage of its market value. With a median home price of $80,600, homeowners in Fairview can expect their property tax bills to vary significantly. The tax bill at the 25th percentile is around $311, while at the 75th percentile, it climbs to approximately $999. For those in the 90th percentile, the tax bill can reach up to $1,469. The highest and lowest median tax bills in the region are both reported at $648, indicating some consistency within certain areas. These figures are crucial for homeowners to understand as they directly impact annual financial planning. Factors such as property improvements, neighborhood developments, and changes in local tax rates can also influence the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, Fairview's property tax rates provide a relatively affordable option for homeowners.
Average Fairview Tax Bill
$648
Average Marion County Tax Bill
$886
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairview, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26570 | $124 | $311 | $648 | $999 | $1,469 |
Source: Ownwell