Morgantown, Preston County, West Virginia Property Taxes

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

Median Morgantown, WV effective property tax rate: 0.64%, significantly lower than the national median of 1.02%, but lower than the West Virginia state median of 0.72%.
Median Morgantown, WV home value: $163,900
Median annual Morgantown, WV tax bill: $1,043, $1,357 lower than the national median property tax bill of $2,400.

How are property taxes in Preston calculated?

Property taxes in Morgantown, 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 Morgantown’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Morgantown, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Morgantown, Preston County, West Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.64%

Estimate Property Tax Bill

$1,049

$973

Ownwell’s Morgantown Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Morgantown with just two data points. By entering your property's estimated assessed value, our calculator applies Morgantown’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 Preston County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Morgantown, Preston County, West Virginia

Local government entities determine tax rates, leading to significant variation within a state. Annually, each county estimates its budgetary needs to provide essential services and divides this by the total value of all taxable properties within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.

In Morgantown, located in Preston County, the effective property tax rate is a reflection of this process. When compared to other cities in West Virginia, Morgantown's rate provides insight into how local governance impacts property taxes. The median property tax rate in West Virginia is 0.64%, which is considerably lower than the national median rate of 1.02%. This means that property owners in Morgantown and throughout West Virginia generally pay less in property taxes compared to the national average. Understanding these differences can be crucial for property owners looking to manage their expenses effectively.

Property Tax Rates Across Morgantown, Preston County, West Virginia

Source: Ownwell

0.64%

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 Morgantown Tax Rate

0.64%

Median Effective Preston County Tax Rate

0.64%

Median Effective West Virginia Tax Rate

0.72%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Morgantown, Preston County, West Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
26508	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Morgantown, Preston County, West Virginia

When examining property taxes in Morgantown, 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 Preston 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.

Assessment notices: In Preston 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 Morgantown. For example, the median home price in Morgantown is $163,900, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Morgantown, Preston County, West Virginia

Source: Ownwell

$22,100

$67,475

$112,850

Median Morgantown Market Value

$163,900

Median Preston County Market Value

$68,500

Median West Virginia Market Value

$80,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Morgantown, Preston County, West Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
26508	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Morgantown, Preston County, West Virginia

In Morgantown, located in Preston 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 property's market value. Homeowners can expect a median property tax bill of $1,043, which is significantly lower than the national median of $2,400. This low tax bill can be attributed to the area's relatively modest median home price of $163,900. However, even with lower tax rates, homeowners may still find themselves overpaying if their property's assessed value is inaccurately high. This is where Ownwell can make a difference. By providing expert property tax appeal and exemption services, Ownwell helps homeowners ensure their property assessments are fair and accurate. With a deep understanding of local tax codes and regulations, Ownwell can identify potential savings, assisting homeowners in reducing their tax burden and ensuring they pay only their fair share.

Property Tax Bills Across Morgantown, Preston County, West Virginia

Source: Ownwell

$176

$451

$726

Median Morgantown Tax Bill

$1,043

Median Preston County Tax Bill

$473

Median West Virginia Tax Bill

$607

Median United States Tax Bill

$2,400

Property Tax Bills Across Morgantown, Preston County, West Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
26508	N/A	N/A	N/A	N/A	N/A

Source: Ownwell