Lowndesville, South Carolina Property Taxes
The median property tax rate in Lowndesville, SC is 0.56%, significantly lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With a median home value of $50,300 in Lowndesville, the typical annual property tax bill is $243, well below the national median of $2,690. Property taxes in Lowndesville are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Lowndesville'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 Lowndesville or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lowndesville, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$282
Ownwell’s Lowndesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lowndesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lowndesville 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 Lowndesville, South Carolina
Property taxes in Lowndesville, South Carolina, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Lowndesville is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Lowndesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lowndesville 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 Lowndesville's effective property tax rate to other areas in South Carolina and the national median. For comparison, the zip code 29659 has the highest median property tax rate of 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these areas compare with Lowndesville 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 Lowndesville Tax Rate
0.56%
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 Lowndesville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29659 | 0.40% | 0.46% | 0.56% | 0.66% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Lowndesville, South Carolina
In Lowndesville, 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'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 Lowndesville, 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 Lowndesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Lowndesville are both $243.00, found in the zip code 29659.
Property Tax Assessment Values Across Lowndesville, South Carolina
Source: Ownwell
$17,850
$93,350
$168,850
Average Lowndesville Assessed Value
$50,300
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 Lowndesville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29659 | $35,180 | $40,850 | $50,300 | $59,750 | $65,420 |
Source: Ownwell
Property Tax Bills Across Lowndesville, South Carolina
In Lowndesville, located in Abbeville County, SC, property tax bills are calculated based on the assessed value of a home, not its market value. The assessed value is typically a percentage of the market value, which is determined by the county assessor. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $50,300, homeowners in Lowndesville can expect a median tax bill around the $243 mark, which is significantly lower than the national median property tax rate of 0.99%. Factors such as property improvements, changes in market conditions, and local government budgets can influence the assessed value and, subsequently, the tax bill. For homeowners, this means that while property taxes in Lowndesville are relatively low, any significant changes in property assessments or tax rates could impact their annual financial obligations. Understanding how these factors interplay is crucial for effective financial planning and property management.
Average Lowndesville Tax Bill
$243
Average Abbeville County Tax Bill
$277
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Lowndesville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29659 | $241 | $242 | $243 | $244 | $245 |
Source: Ownwell