Fraziers Bottom, West Virginia Property Taxes
The median property tax rate in Fraziers Bottom, WV is 0.71%, slightly below both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $97,400 in Fraziers Bottom, the typical annual property tax bill is $649, which is significantly lower than the national median of $2,690. Property taxes in Fraziers Bottom are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fraziers Bottom'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 Fraziers Bottom or another part of Mason County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fraziers Bottom, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$692
Ownwell’s Fraziers Bottom Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fraziers Bottom with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fraziers Bottom 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 Fraziers Bottom, West Virginia
Property taxes in Fraziers Bottom, West Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fraziers Bottom is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Fraziers Bottom set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fraziers Bottom 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 Fraziers Bottom's effective property tax rate to other areas in Mason County and the national median. For comparison, the zip code 25082 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 Fraziers Bottom 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 Fraziers Bottom 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 Fraziers Bottom, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25082 | 0.44% | 0.58% | 0.71% | 0.71% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Fraziers Bottom, West Virginia
In Fraziers Bottom, 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 Mason County Assessor's Office 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 Fraziers Bottom, 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 Fraziers Bottom helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills, both at $649.00, are found in the 25082 zip code.
Property Tax Assessment Values Across Fraziers Bottom, West Virginia
Source: Ownwell
$11,400
$59,350
$107,300
Average Fraziers Bottom Assessed Value
$97,400
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 Fraziers Bottom, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25082 | $13,400 | $51,700 | $97,400 | $149,650 | $211,300 |
Source: Ownwell
Property Tax Bills Across Fraziers Bottom, West Virginia
In Fraziers Bottom, Mason County, WV, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in this area is $97,400. Homeowners can expect property tax bills that vary significantly depending on their property's assessed value and the applicable tax rate. The tax bill for homes in the 25th percentile is around $359, while those in the 75th percentile see bills closer to $987. For the top 10% of properties, tax bills can reach up to $1,479. Several factors influence these tax bills, including the property's assessed value and the local tax rate. Homeowners in Mason County should be aware that even within the same region, tax bills can differ substantially. The highest and lowest median tax bills in the area are both $649, indicating a relatively consistent tax environment within certain parts of the county. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Fraziers Bottom Tax Bill
$649
Average Mason County Tax Bill
$486
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Fraziers Bottom, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25082 | $163 | $359 | $649 | $987 | $1,479 |
Source: Ownwell