Mabscott, West Virginia Property Taxes
The median property tax rate in Mabscott, WV is 0.87%, which is lower than the national median of 0.99% but higher than the West Virginia state median of 0.72%. With a median home value of $24,600 in Mabscott, the typical annual property tax bill amounts to $252, significantly below the national median of $2,690. Property taxes in Mabscott are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Mabscott'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 Mabscott or another part of Raleigh County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mabscott, 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 Mabscott Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mabscott with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mabscott 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 Mabscott, West Virginia
Property taxes in Mabscott, 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 Mabscott is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Mabscott set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mabscott 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 Mabscott's effective property tax rate to other areas in Raleigh County and the national median. For comparison, the zip code 25871 has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these areas compare with Mabscott provides valuable insights into the varying tax landscape across Raleigh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mabscott Tax Rate
0.87%
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 Mabscott, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25871 | 0.87% | 0.87% | 0.87% | 1.74% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Mabscott, West Virginia
In Mabscott, 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'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 Mabscott, 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 Mabscott helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Raleigh County, the median home price is $24,600, with tax bills ranging from $202 at the 25th percentile to $388 at the 90th percentile. The zip code 25871 has both the highest and lowest median tax bill, each at $252.
Average Mabscott Assessed Value
$24,600
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 Mabscott, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25871 | $8,950 | $16,475 | $24,600 | $30,375 | $35,100 |
Source: Ownwell
Property Tax Bills Across Mabscott, West Virginia
In Mabscott, Raleigh County, WV, property tax bills are calculated based on the assessed value of a home, which is often a percentage of the property's market value. Homeowners in Mabscott can expect their property tax bills to reflect the assessed value multiplied by the local tax rate. The median home price in Mabscott is $24,600, and property tax bills can vary significantly. For instance, the 25th percentile tax bill in Mabscott is $202, while the 75th percentile reaches $305, and the 90th percentile can go up to $388. These figures are relatively low compared to the national median property tax rate of 0.99%. The highest and lowest median tax bills in the area are both $252, indicating a consistent tax rate across different properties. These property tax bills directly impact homeowners by influencing their annual housing costs, making it essential for them to understand how their tax obligations are determined and managed.
Average Mabscott Tax Bill
$252
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Mabscott, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25871 | $106 | $202 | $252 | $305 | $388 |
Source: Ownwell