Shinnston, West Virginia Property Taxes
The median property tax rate in Shinnston, WV is 0.74%, slightly higher than the state median of 0.72% but below the national median of 0.99%. With the median home value in Shinnston at $163,400, the typical annual property tax bill amounts to $966, which is significantly lower than the national median of $2,690. Property taxes in Shinnston are based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Shinnston'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 Shinnston 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
Shinnston, 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 Shinnston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shinnston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shinnston 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 Shinnston, West Virginia
Property taxes in Shinnston, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shinnston is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Shinnston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shinnston 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 Shinnston's effective property tax rate to other areas in Marion County and the national median. For comparison, the zip code 26431 has both the highest and lowest median property tax rate of 0.74%, identical to Shinnston’s rate. Understanding how these areas compare with Shinnston 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 Shinnston 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 Shinnston, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26431 | 0.51% | 0.71% | 0.74% | 0.74% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Shinnston, West Virginia
In Shinnston, 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 Shinnston, 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 Shinnston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Shinnston is $163,400, with the highest median tax bill in the 26431 zip code at $966 and the lowest median tax bill also in the 26431 zip code at $966.
Average Shinnston Assessed Value
$163,400
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 Shinnston, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26431 | $100,100 | $108,425 | $163,400 | $292,300 | $382,930 |
Source: Ownwell
Property Tax Bills Across Shinnston, West Virginia
In Shinnston, located in Marion County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the tax bill. For example, with a median home price of $163,400, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $746, while the 75th percentile reaches up to $2,175. At the 90th percentile, homeowners might see tax bills as high as $2,838. The highest median tax bill in the area is $966, found in the 26431 zip code. These variations highlight how different factors, such as property location and market conditions, influence the final tax amount. Compared to the national median property tax rate of 0.99%, the rates in Shinnston can have a considerable impact on household budgets, making it essential for homeowners to understand how their property tax is calculated.
Average Shinnston Tax Bill
$966
Average Marion County Tax Bill
$886
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Shinnston, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26431 | $612 | $746 | $966 | $2,175 | $2,838 |
Source: Ownwell