Maysville, West Virginia Property Taxes
The median property tax rate in Maysville, WV is 0.48%, 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 Maysville, the typical annual property tax bill reaches $359, significantly below the national median of $2,690. Property taxes in Maysville 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 Maysville'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 Maysville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Maysville, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$399
Ownwell’s Maysville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maysville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maysville 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 Maysville, West Virginia
Property taxes in Maysville, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maysville is 0.48%, which is below the U.S. national median of 0.99%. Local government entities within Maysville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maysville 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 Maysville's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26833 zip code has both the highest and lowest median property tax rate of 0.48%. Understanding how these cities compare with Maysville provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maysville Tax Rate
0.48%
Average Grant County Tax Rate
0.48%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maysville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26833 | 0.29% | 0.42% | 0.48% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Maysville, West Virginia
In Maysville, West Virginia, understanding the difference between "market value" and "assessed value" is essential 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 local appraisal authorities 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 Maysville, 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 Maysville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the region is $359 in the 26833 zip code, which also holds the lowest median tax bill.
Average Maysville Assessed Value
$83,200
Average Grant County Assessed Value
$73,700
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maysville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26833 | $31,140 | $54,900 | $83,200 | $116,000 | $159,640 |
Source: Ownwell
Property Tax Bills Across Maysville, West Virginia
In Maysville, located in Grant County, WV, property tax bills are calculated based on the assessed value of a home rather than its market value. The median home price in Maysville is $83,200. Local tax authorities determine the assessed value, which is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Maysville, property tax bills can vary significantly. For example, the 25th percentile tax bill is $227, while the 75th percentile tax bill is $536, with the 90th percentile reaching up to $763. Factors such as property improvements, neighborhood developments, and changes in local tax rates can influence the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Maysville may find their tax bills relatively manageable. However, these taxes still represent a significant expense that homeowners must plan for annually, impacting their overall cost of homeownership.
Average Maysville Tax Bill
$359
Average Grant County Tax Bill
$353
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Maysville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26833 | $127 | $227 | $359 | $536 | $763 |
Source: Ownwell