Anderson, South Carolina Property Taxes
The median property tax rate in Anderson, SC is 0.55%, considerably lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Anderson at $141,900, the typical annual property tax bill reaches $912, significantly below the national median of $2,690. Property taxes in Anderson 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 Anderson'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 Anderson 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
Anderson, 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 Anderson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Anderson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Anderson 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 Anderson, South Carolina
Property taxes in Anderson, SC, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Anderson is 0.55%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Anderson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Anderson 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 Anderson's effective property tax rate to other areas in South Carolina and the national median. For comparison, the 29624 zip code has the highest median property tax rate of 1.65%, while the 29626 zip code has the lowest median tax rate of 0.49%. Understanding how these areas compare with Anderson provides valuable insights into the varying tax landscape across Anderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Anderson Tax Rate
0.55%
Average Anderson County Tax Rate
0.55%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Anderson, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29621 | 0.31% | 0.43% | 0.52% | 0.87% | 2.32% |
| 29624 | 0.19% | 0.53% | 1.65% | 2.43% | 2.83% |
| 29625 | 0.29% | 0.43% | 0.54% | 1.81% | 2.55% |
| 29626 | 0.26% | 0.38% | 0.49% | 1.83% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across Anderson, South Carolina
In Anderson, 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 Anderson 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 Anderson, 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 Anderson is $1,213 in the 29621 zip code, while the lowest is $490 in the 29624 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Anderson, South Carolina
Source: Ownwell
$39,580
$147,245
$254,910
Average Anderson Assessed Value
$141,900
Average Anderson County Assessed Value
$138,430
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Anderson, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29621 | $46,906 | $122,130 | $189,440 | $287,700 | $400,298 |
| 29624 | $9,278 | $19,160 | $39,580 | $78,740 | $122,406 |
| 29625 | $18,688 | $59,682 | $143,635 | $213,540 | $336,753 |
| 29626 | $12,950 | $42,690 | $118,540 | $219,150 | $370,718 |
Source: Ownwell
Property Tax Bills Across Anderson, South Carolina
In Anderson, SC, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, the median home price in Anderson is $141,900, and tax bills can vary significantly within the city. Homeowners in Anderson experience a range of property tax bills, with the 25th percentile at $492 and the 75th percentile at $1,611. At the higher end, the 90th percentile tax bill reaches $2,795. The highest median tax bill in the city is $1,213 in the 29621 zip code, while the lowest median tax bill is $490 in the 29624 zip code. These variations in property tax bills can significantly impact homeowners, influencing their overall housing costs and financial planning. Understanding how these factors interplay helps homeowners anticipate their property tax obligations more accurately.
Average Anderson Tax Bill
$912
Average Anderson County Tax Bill
$929
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Anderson, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29621 | $359 | $734 | $1,213 | $1,877 | $3,003 |
| 29624 | $80 | $221 | $490 | $876 | $1,488 |
| 29625 | $220 | $504 | $858 | $1,517 | $2,883 |
| 29626 | $156 | $378 | $750 | $1,397 | $3,043 |
Source: Ownwell