Wallace, Marion County, West Virginia Property Taxes

Name: Property Tax Bills Across Wallace, Marion County, West Virginia
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

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

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.74%

Estimate Property Tax Bill

$523

$485

Ownwell’s Wallace Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Wallace with just two data points. By entering your property's estimated assessed value, our calculator applies Wallace’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in 54049. For those interested in more localized information, please scroll down to explore city-level trends!

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.

Property Tax Rates Across Wallace, Marion County, West Virginia

Source: Ownwell

0.74%

0.82%

0.89%

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%

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

In Wallace, located in Marion County, WV, property tax bills are calculated based on the assessed value of a home. Unlike the national median property tax rate of 1.02%, Wallace offers a more affordable rate. For instance, the median home price in the area is $70,650, and tax bills range from the 25th percentile at $219 to the 90th percentile at $882. This is significantly lower than the national median property tax bill of $2,400. Factors influencing these tax bills include the assessed value of the property and any applicable exemptions or deductions. Homeowners in Wallace benefit from relatively low property taxes, but there is still room for potential savings. Ownwell can assist homeowners by identifying discrepancies in property assessments and ensuring they receive all eligible exemptions. By leveraging their expertise, Ownwell helps homeowners reduce their property tax bills, ensuring they pay only what is fair and necessary. This service can provide significant financial relief, keeping more money in homeowners' pockets.

Property Tax Bills Across Wallace, Marion County, West Virginia

Source: Ownwell

$236

$935

$1,634

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