Ware Shoals, South Carolina Property Taxes
The median property tax rate in Ware Shoals, SC is 0.66%, which is notably lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Ware Shoals at $29,200, the typical annual property tax bill amounts to $212, significantly below the national median of $2,690. Property taxes in Ware Shoals are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Ware Shoals' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Ware Shoals 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
Ware Shoals, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$193
Ownwell’s Ware Shoals Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ware Shoals with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ware Shoals 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 Ware Shoals, South Carolina
Property taxes in Ware Shoals, 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 Ware Shoals is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Ware Shoals set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ware Shoals 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 Ware Shoals' effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29692 has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Ware Shoals 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 Ware Shoals Tax Rate
0.66%
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 Ware Shoals, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29692 | 0.13% | 0.34% | 0.66% | 1.93% | 2.73% |
Source: Ownwell
Property Tax Assessment Values Across Ware Shoals, South Carolina
In Ware Shoals, 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 Ware Shoals, 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 instance, the highest median tax bill in Ware Shoals is $212 in zip code 29692, which is below the national median property tax rate of 0.99%. Being aware of these valuation processes in Ware Shoals helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Ware Shoals, South Carolina
Source: Ownwell
$17,850
$93,350
$168,850
Average Ware Shoals Assessed Value
$29,200
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 Ware Shoals, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29692 | $5,700 | $11,500 | $29,200 | $54,800 | $120,610 |
Source: Ownwell
Property Tax Bills Across Ware Shoals, South Carolina
In Ware Shoals, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Ware Shoals is $29,200. Local tax authorities apply the county's specific tax rate to this assessed value to determine the annual tax bill. Various factors, such as property improvements, location, and market trends, influence the assessed value. For homeowners in Ware Shoals, property tax bills can vary significantly. The 25th percentile tax bill is approximately $119, while the 75th percentile tax bill is around $357. The highest median tax bill in the area stands at $212, which is notably lower than the national median property tax rate of 0.99%. This relatively low tax rate can be beneficial for homeowners, making property ownership more affordable. However, it's essential for homeowners to stay informed about potential changes in assessed values and tax rates, as these can affect their annual financial obligations.
Average Ware Shoals Tax Bill
$212
Average Abbeville County Tax Bill
$277
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Ware Shoals, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29692 | $44 | $119 | $212 | $357 | $715 |
Source: Ownwell