Mathias, West Virginia Property Taxes
The median property tax rate in Mathias, WV is 0.46%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Mathias at $86,800, the typical annual property tax bill is $378, far below the national median of $2,690. Property taxes in Mathias 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 Mathias'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 Mathias or another part of Hardy County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mathias, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$399
Ownwell’s Mathias Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mathias with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mathias 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 Mathias, West Virginia
Property taxes in Mathias, 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 Mathias is 0.46%, which is lower than the U.S. national median of 0.99%. Local government entities within Mathias set these rates annually, and they can vary across different neighborhoods. Each year, Mathias 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 Mathias's effective property tax rate to other areas in Hardy County and the national median. For comparison, the zip code 26812 has the highest median property tax rate of 0.46%, while it also has the lowest median tax rate of 0.46%. Understanding how these areas compare with Mathias provides valuable insights into the varying tax landscape across Hardy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mathias Tax Rate
0.46%
Average Hardy County Tax Rate
0.46%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mathias, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26812 | 0.29% | 0.46% | 0.46% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Mathias, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mathias, WV. 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 Hardy 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. The median home price in Mathias is $86,800, with tax bills ranging from $226 at the 25th percentile to $1,057 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mathias Assessed Value
$86,800
Average Hardy County Assessed Value
$93,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mathias, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26812 | $36,260 | $55,000 | $86,800 | $135,500 | $222,560 |
Source: Ownwell
Property Tax Bills Across Mathias, West Virginia
In Mathias, Hardy County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as the home’s location, size, and condition influence its market value, and therefore its assessed value. For instance, with a median home price of $86,800, the property tax rate is applied to the assessed value to calculate the tax bill. Homeowners in Mathias can expect their property tax bills to vary significantly; the 25th percentile tax bill is around $226, while the 75th percentile reaches $616, and the 90th percentile can be as high as $1,057. Comparing this to the national median property tax rate of 0.99%, it is clear that property taxes in Mathias can have a substantial impact on homeowners, depending on the assessed value of their property and the specific tax rate applied.
Average Mathias Tax Bill
$378
Average Hardy County Tax Bill
$439
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Mathias, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26812 | $142 | $226 | $378 | $616 | $1,057 |
Source: Ownwell