Abbeville, South Carolina Property Taxes
The median property tax rate in Abbeville, SC is 0.74%, slightly higher than the state median of 0.72% but lower than the national median of 0.99%. With a median home value of $35,050 in Abbeville, the typical annual property tax bill is $291, significantly below the national median of $2,690. Property taxes in Abbeville are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Abbeville'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 Abbeville 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
Abbeville, South Carolina 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 Abbeville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Abbeville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Abbeville 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 Abbeville, South Carolina
Property taxes in Abbeville, South Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Abbeville is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Abbeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Abbeville 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 Abbeville's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29620 zip code has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these cities compare with Abbeville provides valuable insights into the varying tax landscape across Abbeville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Abbeville Tax Rate
0.74%
Average Abbeville County Tax Rate
0.76%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Abbeville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29620 | 0.26% | 0.42% | 0.74% | 1.65% | 2.56% |
Source: Ownwell
Property Tax Assessment Values Across Abbeville, South Carolina
In Abbeville, South Carolina, 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 Abbeville 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 Abbeville, 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 Abbeville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 29620 has both the highest and lowest median tax bill, which stands at $291.
Property Tax Assessment Values Across Abbeville, South Carolina
Source: Ownwell
$17,850
$93,350
$168,850
Average Abbeville Assessed Value
$35,050
Average Abbeville County Assessed Value
$33,600
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Abbeville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29620 | $7,800 | $15,700 | $35,050 | $136,800 | $278,735 |
Source: Ownwell
Property Tax Bills Across Abbeville, South Carolina
In Abbeville, SC, property tax bills are calculated based on the assessed value of the home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $35,050, homeowners might expect a tax bill in the range of $146 at the 25th percentile to $720 at the 75th percentile. At the highest end, the 90th percentile tax bill can reach up to $1,502. Factors influencing these numbers include the specific property’s assessed value, any applicable exemptions, and the local tax rate set by the county. With the national median property tax rate at 0.99%, Abbeville’s tax rates can be relatively moderate, offering some financial relief to homeowners. Understanding this calculation helps homeowners better anticipate their annual expenses and manage their budgets effectively.
Average Abbeville Tax Bill
$291
Average Abbeville County Tax Bill
$277
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Abbeville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29620 | $110 | $146 | $291 | $720 | $1,502 |
Source: Ownwell