Wallace, Marion County, West Virginia Property Taxes
Median Wallace, WV effective property tax rate: 0.74%, significantly lower than the national median of 1.02%, but higher than the West Virginia state median of 0.72%.
Median Wallace, WV home value: $70,650
Median annual Wallace, WV tax bill: $362, $2,038 lower than the national median property tax bill of $2,400.
How are property taxes in Marion calculated?
Property taxes in Wallace, WV are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Wallace’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wallace, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Wallace, Marion County, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.74%
Estimate Property Tax Bill
$523
$485
Property Tax Rates Across Wallace, Marion County, West Virginia
Local government entities in Wallace, WV, like those across the nation, set property tax rates that can vary significantly. Each year, Marion County estimates the budget needed to provide essential services and divides this by the total assessed value of all taxable property within its jurisdiction, resulting in the property tax rate. This process, while subject to votes and laws, is essentially how annual property tax rates are determined.
Comparing Wallace’s effective property tax rate with other cities in West Virginia and nationally reveals interesting insights. Wallace's rate is lower than the national median property tax rate of 1.02%, making it an attractive option for homeowners seeking affordability. The median property tax rate in West Virginia also falls below the national average, providing further incentive for property owners in the state. This favorable tax environment can significantly impact overall living costs, making Wallace a potentially appealing location for both current residents and those considering relocation. Understanding these dynamics is crucial for homeowners aiming to optimize their property tax liabilities effectively.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Wallace Tax Rate
0.74%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Marion County Tax Rate
0.74%
Median Effective West Virginia Tax Rate
0.72%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Wallace, Marion County, West Virginia
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
26448 | 0.27% | 0.46% | 0.74% | 0.74% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Wallace, Marion County, West Virginia
When examining property taxes in Wallace, WV, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Marion County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Marion County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Wallace. For example, the median home price in Wallace is $70,650, with tax bills ranging significantly across the county. Zip code 26448 has the highest median home price at $70,650.
Property Tax Assessment Values Across Wallace, Marion County, West Virginia
Source: Ownwell

$31,900
$134,475
$237,050
Median Wallace Market Value
$70,650
Median Marion County Market Value
$104,800
Median West Virginia Market Value
$80,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Wallace, Marion County, West Virginia
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
26448 | $26,180 | $34,500 | $70,650 | $114,275 | $154,770 |
Source: Ownwell
Property Tax Bills Across Wallace, Marion County, West Virginia
Median Wallace Tax Bill
$362
Median Marion County Tax Bill
$886
Median West Virginia Tax Bill
$607
Median United States Tax Bill
$2,400
Property Tax Bills Across Wallace, Marion County, West Virginia
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
26448 | $145 | $219 | $362 | $656 | $882 |
Source: Ownwell