Mason, West Virginia Property Taxes
The median property tax rate in Mason, WV is 0.71%, which is lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Mason at $49,300, the typical annual property tax bill amounts to $388, significantly less than the national median of $2,690. Property taxes in Mason are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mason'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 Mason or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mason, 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 Mason Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mason with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mason 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 Mason, West Virginia
Property taxes in Mason, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mason is 0.71%, lower than the U.S. national median of 0.99%. Local government entities within Mason set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mason 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 Mason's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 25260 zip code has the highest median property tax rate of 0.71%, while the same zip code also has the lowest median tax rate of 0.71%. Understanding how these cities compare with Mason provides valuable insights into the varying tax landscape across Mason County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mason Tax Rate
0.71%
Average Mason County Tax Rate
0.71%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mason, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25260 | 0.36% | 0.55% | 0.71% | 0.88% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Mason, West Virginia
In Mason, West Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 local county appraisal district 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. 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 Mason helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Mason, the zip code 25260 has the highest median tax bill at $388.00, while the lowest median tax bill is also found in the same zip code at $388.00.
Average Mason Assessed Value
$49,300
Average Mason County Assessed Value
$68,400
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mason, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25260 | $9,500 | $23,000 | $49,300 | $76,600 | $110,520 |
Source: Ownwell
Property Tax Bills Across Mason, West Virginia
In Mason, WV, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the tax bill, including property size, location, and any improvements made. Homeowners in Mason can expect a wide range of tax bills. For instance, the 25th percentile tax bill is around $182, while the 75th percentile reaches $630. The highest median tax bill recorded in Mason is $388, which is relatively low compared to the national median property tax rate of 0.99%. These taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting the quality of life for Mason residents. Understanding how these taxes are calculated helps homeowners manage their finances and anticipate annual expenses.
Average Mason Tax Bill
$388
Average Mason County Tax Bill
$486
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Mason, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25260 | $93 | $182 | $388 | $630 | $974 |
Source: Ownwell