Liberty, West Virginia Property Taxes
The median property tax rate in Liberty, WV is 0.75%, slightly lower than the national median of 0.99% but higher than the West Virginia state median of 0.72%. With the median home value in Liberty, the typical annual property tax bill is $769, well below the national median of $2,690. Property taxes in Liberty 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 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
$2,500,000
$5,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,440
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, West Virginia, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Liberty is 0.75%, 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 areas and the national median. For comparison, the highest median property tax rate in the county is 0.75% in the 25124 zip code, while the lowest median tax rate is also 0.75% in the same zip code. Understanding how these areas compare with Liberty provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Liberty Tax Rate
0.75%
Average Jackson County Tax Rate
0.75%
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 | 0.50% | 0.58% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Liberty, West Virginia
In Liberty, 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 Jackson 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 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. For instance, the highest median tax bill in Liberty is $769 in the 25124 zip code, while the lowest median tax bill is also $769 in the same zip code. 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 Liberty helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Liberty Assessed Value
$105,050
Average Jackson County Assessed Value
$84,500
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 | $55,110 | $78,925 | $105,050 | $141,875 | $158,670 |
Source: Ownwell
Property Tax Bills Across Liberty, West Virginia
In Liberty, Jackson County, WV, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the home's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Liberty, the median home price is $105,050, and the property tax rate is a crucial factor in determining the final tax bill. Homeowners in Liberty can expect their tax bills to vary significantly. For instance, those at the 25th percentile pay around $547 annually, while those at the 75th percentile face a tax bill of about $933. At the 90th percentile, the tax bill can reach up to $1,186. This variation highlights the impact of property values and assessment rates on the tax burden for homeowners. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how Liberty's property taxes align with broader trends.
Average Liberty Tax Bill
$769
Average Jackson County Tax Bill
$636
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 | $359 | $547 | $769 | $933 | $1,186 |
Source: Ownwell