Maysel, West Virginia Property Taxes
The median property tax rate in Maysel, WV is 0.42%, considerably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Maysel at $49,000, the typical annual property tax bill is $200, significantly below the national median of $2,690. Property taxes in Maysel are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Maysel's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Maysel or another part of Clay County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Maysel, West Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,440
Ownwell’s Maysel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maysel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maysel to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Maysel, West Virginia
Property taxes in Maysel, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maysel is 0.42%, significantly lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Maysel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maysel estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Maysel's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25133 has the highest median property tax rate of 0.42%, while the lowest median tax rate is also 0.42% in the same zip code. Understanding how these cities compare with Maysel provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maysel Tax Rate
0.42%
Average Clay County Tax Rate
0.42%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maysel, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25133 | 0.14% | 0.27% | 0.42% | 0.42% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Maysel, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Maysel, West Virginia. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Clay County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Maysel, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Maysel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $200.00 in the 25133 zip code.
Average Maysel Assessed Value
$49,000
Average Clay County Assessed Value
$39,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maysel, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25133 | $9,400 | $24,200 | $49,000 | $82,600 | $117,960 |
Source: Ownwell
Property Tax Bills Across Maysel, West Virginia
Property tax bills in Maysel, located in Clay County, WV, are calculated based on the assessed value of a property, which is determined by local tax assessors. This value is then multiplied by the local property tax rate to determine the annual tax bill. In Maysel, the median home price stands at $49,000. Property tax bills can vary significantly, with the 25th percentile tax bill at $83 and the 75th percentile at $344. For those at the 90th percentile, the tax bill can reach up to $506. These property taxes are crucial for funding local services such as schools, emergency services, and infrastructure maintenance. Homeowners in Maysel must consider these taxes as part of their overall housing costs, which can impact their financial planning and property investment decisions. Compared to the national median property tax rate of 0.99%, the property tax rates in Maysel reflect the local economic conditions and the value placed on community services.
Average Maysel Tax Bill
$200
Average Clay County Tax Bill
$172
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Maysel, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25133 | $47 | $83 | $200 | $344 | $506 |
Source: Ownwell