What are the Tax Benefits for Businesses in Berkeley County?

West Virginia has better tax incentives and opportunities for businesses compared to its neighboring states. Companies that operate in Berkeley County can enjoy proximity to Maryland and Virginia, without having to accept a hefty tax burden.  

Here are a few benefits of establishing your operations in Berkeley County. If you have any questions, the Berkeley County Development Authority is here to assist you.

Tax Increment Financing (TIF)

Berkeley County is a TIF District, which means companies can support economic development without increasing their tax burden. TIF designations are created to support job growth and increase the presence of commercial businesses.

There are two TIF districts, one for the north of the county and one for the south. These were created by the development authority to keep up with infrastructure needs

Favorable Corporate Income Tax

Businesses in Berkeley County pay a favorable corporate income tax rate of 6.5%. Companies within city limits will pay a 7% B&O tax. These taxes support the development of Berkeley County, while also remaining low enough to create a business-friendly environment. 

Low Property Taxes

West Virginia ranks 9th in the country for the lowest property tax rate at 0.55%. The affordable property values also mean businesses typically pay less in property taxes, than if they set up operations in the surrounding Maryland and Virginia counties. 

For comparison, the Maryland property tax rate is 1.02% while Virginia’s rate is 0.76%

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