Valuation

The Assessor's Office studies the Real Estate market and collects information about properties to estimate value. The goal of the Assessor's Office is to estimate each property's fair, current market value - the price your property could sell for today on the open market. To estimate current market value, the Assessor's Office considers the characteristics of the property, the neighborhood, recent sales of similar property and local building and construction costs.

Property Value Changes

A property's value can change for many reasons, the most obvious is the property changes - an addition, a new garage, or the property undergoes renovation or demolition. Another frequent cause of change is a change in the market - properties in certain neighborhoods begin selling for higher prices.

The Assessor's Office must, however, maintain property values that are at least 90% of recent sales prices. A quick method to determine if your value is fair is to compare it to sales prices in your neighborhood, taking into account various differences in structures. To guard against future dramatic increases in your property's value, an inflation adjustment of 2-3% is annually applied.

Real Estate Assessments

In 1990, the West Virginia Legislature ordered a statewide reappraisal of all property in West Virginia. Reappraisal occurs in three year cycles. During each three year cycle, the Assessor's Office must visit every piece of real estate to confirm and update characteristics of the property.

Although property reappraisal is now a continuous process, dramatic future increases in your property's value probably will not occur. Many taxpayers saw a dramatic increase in their property's value during the initial cycle because most property in the county had not been revalued for 20 to 30 years.

Property purchased within the last few years was being valued much higher than property which had not changed hands for those 20-30 years. In other words, some folks were paying their fair share while others were not.

If at anytime, however, you believe there is an error in the value of your property, you should contact the Assessor's Office. An official from the office will visit the property to determine if a reduction is warranted.

Individual Assessment records, including assessed values, property characteristics, and tax maps can
now be viewed as part of this website by clicking the icon Assessment Records Online.

Exemptions

If you are 65 years of age or older, or if you are permanently and totally disabled, you may be eligible for the Homestead Property Tax Exemption. If approved, $20,000 will be deducted from the assessed value of the home used as your primary residence. To claim this exemption, you must file the application with the Assessor's Office between July 1 and December 1. The Homestead Exemption saves senior citizens in Marshall County over $800,000 in property taxes annually.

A Senior Citizens Tax Credit is also available for eligible senior citizens. It is based on the amount of property taxes paid on the first $20,000 of the taxable assessed value over the $20,000 Homestead Exemption. If for example, the assessed value of your home is $35,000, the Homestead Exemption automatically exempts $20,000 from the payment of property taxes, which is shown on your annual property tax bill.

The additional $15,000 is then eligible for the Senior Citizens Tax Credit. You must first pay the property tax due, but after filing the proper forms with the State Tax Department, the amount paid is credited to any State Income Tax owed. If no state income tax is owed, the homeowner will receive a refund check from the State Tax Department.

There are low income guidelines associated with the Senior Citizens Tax Credit, although Social Security benefits are not included in the income limits. To claim the credit, a one-person household must have income less than $15,315. A two-person household must have income less than $20,535.

Personal Property Assessments

Personal property assessments differ somewhat from real estate assessments. All persons must report to the Assessor all personal property owned as of July 1 of each year whether visited by a deputy or not. This can be done in one of four ways:

1. Necessary forms and a return envelope are mailed to every property owner in the County prior to July 1 of each year. Simply complete and return the form to the Assessor's Office prior to October 1.
2. While visiting the courthouse, report the information to the Assessor's Office personnel.
3. Taking the form to any high mileage checkpoint held weekly each summer.

Vehicle assessments are based on 60% of the lowest value listed in the N.A.D.A. Used Car Guide. Assessment discounts for vehicles with high mileage are available. High Mileage Certifications must be turned in each year prior to October 1. By being assessed for your vehicles each year, you will avoid any late penalties and interest, be eligible for 2 1/2% discount, and reduce the time it takes to renew your vehicle registration each year.

BUSINESS PERSONAL PROPERTY

All business in the county are mailed a blue, four-page reporting form in early July. The form requests that accurate costs be entered for all personal property owned as of July 1 of each year, including machinery and equipment, inventory, computer equipment, vehicles and furniture and fixtures. All business returns must be submitted no later than October 1st. Those businesses not submitting a return are automatically subject to a 10% increase on the previous year's assessment, are liable for a $100 penalty, and lose any right to appeal the value established.

Out-Of-State Plates Program