Mabie, West Virginia Property Taxes
The median property tax rate in Mabie, WV is 0.40%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With a median home value of $58,500 in Mabie, the typical annual property tax bill amounts to $251, which is well below the national median of $2,690. Property taxes in Mabie are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Mabie'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 Mabie or another part of Randolph County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mabie, 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 Mabie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mabie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mabie 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 Randolph County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Mabie, West Virginia
Property taxes in Mabie, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mabie is 0.40%, notably lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Mabie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mabie 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 Mabie's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 26278 has both the highest and lowest median property tax rate of 0.40%. Understanding how these areas compare with Mabie provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mabie Tax Rate
0.40%
Average Randolph County Tax Rate
0.40%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mabie, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26278 | 0.18% | 0.34% | 0.40% | 0.41% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Mabie, West Virginia
In Mabie, 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 Randolph 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 Mabie, 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 Mabie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median tax bill in the area is $251, with the same amount being the highest and lowest median tax bill in the zip code 26278.
Average Mabie Assessed Value
$58,500
Average Randolph County Assessed Value
$82,600
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mabie, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26278 | $2,360 | $28,575 | $58,500 | $98,850 | $137,400 |
Source: Ownwell
Property Tax Bills Across Mabie, West Virginia
In Mabie, located in Randolph County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Mabie is $58,500. Local tax rates are applied to this assessed value to determine the annual property tax bill. For homeowners in Mabie, the tax bill can vary significantly. For instance, the 25th percentile tax bill is $116, while the 75th percentile tax bill is $413, and the 90th percentile tax bill reaches $556. This means that while some homeowners pay relatively low property taxes, others may face higher bills depending on the assessed value of their property and the specific tax rates applied. Compared to the national median property tax rate of 0.99%, Mabie's property tax rates offer a range of financial impacts. Homeowners must consider these factors when budgeting for annual expenses, as property taxes can significantly affect the overall cost of homeownership.
Average Mabie Tax Bill
$251
Average Randolph County Tax Bill
$381
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Mabie, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26278 | $51 | $116 | $251 | $413 | $556 |
Source: Ownwell