Great Cacapon, Morgan County, West Virginia Property Taxes
The median property tax rate in Great Cacapon, WV is 0.60%, which is 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 Great Cacapon at $109,350, the typical annual property tax bill amounts to $709, well below the national median of $2,690. Property taxes in Great Cacapon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Great Cacapon'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 Great Cacapon or another part of Morgan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Great Cacapon, Morgan County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$656
$609
Ownwell’s GREAT CACAPON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in GREAT CACAPON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in GREAT CACAPON 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 Great Cacapon, Morgan County, West Virginia
Property taxes in Great Cacapon, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Great Cacapon is 0.60%, considerably lower than the U.S. national median of 0.99%. Local government entities within Great Cacapon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Great Cacapon 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 Great Cacapon's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25422 zip code has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Great Cacapon provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Great Cacapon Tax Rate
0.60%
Average Morgan County Tax Rate
0.60%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Great Cacapon, Morgan County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25422 | 0.50% | 0.60% | 0.60% | 0.60% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Great Cacapon, Morgan County, West Virginia
In Great Cacapon, 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 Morgan 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 Great Cacapon, 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 Great Cacapon is $109,350, with the 25th percentile tax bill at $404 and the 75th percentile tax bill at $1,184. The highest and lowest median tax bills both stand at $709 in the 25422 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Great Cacapon, Morgan County, West Virginia
Source: Ownwell
$73,300
$114,850
$156,400
Average Great Cacapon Assessed Value
$109,350
Average Morgan County Assessed Value
$139,800
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Great Cacapon, Morgan County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25422 | $29,710 | $58,225 | $109,350 | $184,175 | $258,770 |
Source: Ownwell
Property Tax Bills Across Great Cacapon, Morgan County, West Virginia
In Great Cacapon, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area stands at $109,350. To determine the tax bill, local tax rates are applied to the assessed value. Factors such as property size, location, and improvements can influence this assessed value. For homeowners, this means that a higher market value or significant property enhancements can lead to an increased tax bill. In Morgan County, the tax bill ranges significantly, with the 25th percentile at $404 and the 75th percentile reaching $1,184. The 90th percentile tax bill can go up to $1,702. The median tax bill in the area is $709, which is lower than the national median property tax rate of 0.99%. This relatively lower tax burden can be beneficial for homeowners, making Great Cacapon an attractive place for property investment.
Average Great Cacapon Tax Bill
$709
Average Morgan County Tax Bill
$866
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Great Cacapon, Morgan County, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25422 | $217 | $404 | $709 | $1,184 | $1,702 |
Source: Ownwell