Liberty, West Virginia Property Taxes
The median property tax rate in Liberty, WV is 0.73%, slightly higher than the state median of 0.72% but lower than the national median of 0.99%. With the median home value in Liberty at $99,850, the typical annual property tax bill amounts to $674, which is significantly below the national median of $2,690. Property taxes in Liberty are calculated based on the tax assessed value, typically lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Liberty'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 Liberty 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
Liberty, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$729
Ownwell’s Liberty Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Liberty with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Liberty 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 Liberty, West Virginia
Property taxes in Liberty, WV, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Liberty is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Liberty set these rates annually, and they can vary significantly across different neighborhoods. Each year, Liberty 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 Liberty's effective property tax rate to other counties in West Virginia and the national median. For comparison, the zip code 25124 has both the highest and lowest median property tax rate of 0.73%. Understanding how these areas compare with Liberty provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Liberty Tax Rate
0.73%
Average Putnam County Tax Rate
0.73%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Liberty, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25124 | 0.37% | 0.57% | 0.73% | 0.73% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Liberty, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Liberty, West Virginia. 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 Putnam 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 Liberty, 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. For example, the median home price in Liberty is $99,850, and the median tax bill can vary significantly, with the 25th percentile at $311 and the 90th percentile reaching $1,652. Notably, the highest and lowest median tax bills, both at $674, are found in the 25124 zip code. Being aware of these valuation processes in Liberty helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Liberty Assessed Value
$99,850
Average Putnam County Assessed Value
$136,400
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Liberty, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25124 | $14,740 | $44,175 | $99,850 | $156,450 | $233,420 |
Source: Ownwell
Property Tax Bills Across Liberty, West Virginia
In Liberty, property tax bills are determined by assessing the market value of a home and applying the local tax rate. This process starts with an assessment of the property's market value, which is then multiplied by the county's tax rate to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, the median home price in Liberty is $99,850. Homeowners in Liberty experience varying tax bills, with the 25th percentile paying around $311 annually, while those in the 75th percentile pay approximately $1,072. The highest tax bills, at the 90th percentile, can reach up to $1,652. Compared to the national median property tax rate of 0.99%, Liberty's tax rates offer a relatively moderate burden on homeowners. The highest median tax bill in the area is $674, found in the 25124 zip code, which is also the lowest median tax bill, indicating a consistent rate across this zip code. This consistency provides homeowners with predictable annual expenses.
Average Liberty Tax Bill
$674
Average Putnam County Tax Bill
$1,099
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Liberty, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25124 | $117 | $311 | $674 | $1,072 | $1,652 |
Source: Ownwell