Property taxes: Who gets what?

Higher tax rates may cause some county property owners to see tax hikes of about 3% on the bills mailed recently by the Morgan County Sheriff’s Department. Whether an individual’s tax bill is up or down from last year also depends on whether the assessed value of the property has changed.

Tax rates were increased by the Morgan County School Board and Morgan County Commissioners this spring, partly to adjust for lower valuations on some properties. The Bath and Paw Paw town councils kept the same tax rates as last year.

The following breakdown shows how property tax revenue is divided among the school system, county government, town councils and state tax services.

The sample bill is based on an owner-occupied home with a market value of $180,000. Since the assessment is 60% of appraised value, the home would be assessed for taxation at $108,000.

Home in unincorporated Morgan County
Total bill for $180,000 home: $1,182.60.
Morgan County Schools share: $884.09 (or 74.8% of total bill).
Morgan County Govern-ment share: $293.11 (24.8% of total).
State share: $5.40 (.4% of total).

Home in Town of Bath
Total bill for $180,000 home: $1,354.97.
Town of Bath share: $172.37 (or 12.7% of total bill).
Morgan County Schools share: $884.09 (65.2% of bill).
Morgan County Govern-ment share: $293.11 (21.6% of total).
State share: $5.40 (.4% of total).

Home in Town of Paw Paw
Total bill for $180,000 home: $1,452.60.
Town of Bath share: $270 (or 18.6% of total bill).
Morgan County Schools share: $884.09 (60.9% of bill).
Morgan County Government share: $293.11 (20.2% of total).
State share: $5.40 (.37% of total).

Other taxable property
Vehicles, taxable personal property, business inventory and commercial real estate are taxed at twice the rate of owner-occupied homes, but the revenue is divided in the same proportions among the government entities.

Senior Citizen discount
Senior citizens (65 or older) and disabled persons are eligible for a Homestead Exemption from part of the property tax on their residences. The exemption can reduce the tax bill on a local home by more than $200 since the first $20,000 of a home’s assessed value is exempt from taxation.

To qualify for the Homestead Exemption on next summer’s tax bill, a homeowner must be at least 65 years old by June 30, 2013, or be disabled, and must have lived in West Virginia since at least July 1, 2011.