Mac Arthur, West Virginia Property Taxes
The median property tax rate in Mac Arthur, WV is 0.72%, aligning with the West Virginia state median but still below the national median of 0.99%. With the median home value in Mac Arthur at $47,100, the typical annual property tax bill is $361, significantly less than the national median of $2,690. Property taxes in Mac Arthur are calculated based on the assessed value, which often falls below the market value due to exemptions such as the primary residence exemption. Understanding Mac Arthur's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mac Arthur or another part of Raleigh County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mac Arthur, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$339
Ownwell’s MAC ARTHUR Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MAC ARTHUR with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MAC ARTHUR 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 Mac Arthur, West Virginia
Property taxes in Mac Arthur, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mac Arthur is 0.72%, which is below the U.S. national median of 0.99%. Local government entities within Mac Arthur set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mac Arthur 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. Understanding how Mac Arthur's effective property tax rate compares to other areas within Raleigh County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mac Arthur Tax Rate
0.72%
Average Raleigh County Tax Rate
0.72%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mac Arthur, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25873 | 0.28% | 0.72% | 0.72% | 0.72% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Mac Arthur, West Virginia
In Mac Arthur, 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 Raleigh 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 Mac Arthur, 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. For instance, the highest median tax bill in Mac Arthur is $361 in the 25873 zip code, while the lowest median tax bill is also $361 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mac Arthur Assessed Value
$47,100
Average Raleigh County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mac Arthur, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25873 | $6,600 | $25,900 | $47,100 | $70,000 | $88,900 |
Source: Ownwell
Property Tax Bills Across Mac Arthur, West Virginia
Property tax bills in Mac Arthur, Raleigh County, WV, are calculated based on the assessed value of a property, which is a percentage of the market value. The tax rate applied to this assessed value determines the final tax bill. In Mac Arthur, the median home price is $47,100, and homeowners can expect property tax bills that vary significantly. For instance, the 25th percentile tax bill is around $107, while the 75th percentile reaches $497, and the 90th percentile can be as high as $664. These variations are influenced by factors such as property location, size, and any applicable exemptions. Comparing these figures to the national median property tax rate of 0.99%, it's clear that Mac Arthur's property taxes are relatively moderate. Homeowners in this region should be aware of how these assessments and rates impact their annual financial obligations, ensuring they budget accordingly and explore any available exemptions to potentially reduce their tax burden.
Average Mac Arthur Tax Bill
$361
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Mac Arthur, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25873 | $37 | $107 | $361 | $497 | $664 |
Source: Ownwell