Bonneau, South Carolina Property Taxes
The median property tax rate in Bonneau, SC is 0.47%, 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 Bonneau at $161,800, the typical annual property tax bill reaches $897, well below the national median of $2,690. Property taxes in Bonneau 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 Bonneau'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 Bonneau 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
Bonneau, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$760
Ownwell’s Bonneau Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bonneau with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bonneau 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 Bonneau, South Carolina
Property taxes in Bonneau, South Carolina, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bonneau is 0.47%, which is lower than the U.S. national median of 0.99%. Local government entities within Bonneau set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bonneau 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 Bonneau's effective property tax rate to other regions in South Carolina and the national median. For comparison, the zip code 29431 has both the highest and lowest median property tax rate of 0.47%. Understanding how these areas compare with Bonneau provides valuable insights into the varying tax landscape across Berkeley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bonneau Tax Rate
0.47%
Average Berkeley County Tax Rate
0.55%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bonneau, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29431 | 0.34% | 0.40% | 0.47% | 1.18% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Bonneau, South Carolina
In Bonneau, 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 Berkeley 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 Bonneau, 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 Bonneau helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Bonneau is $161,800, with annual tax bills ranging from $597 at the 25th percentile to $2,775 at the 90th percentile. The highest and lowest median tax bills are both $897, found in the 29431 zip code.
Property Tax Assessment Values Across Bonneau, South Carolina
Source: Ownwell
$96,200
$2,413,900
$4,731,600
Average Bonneau Assessed Value
$161,800
Average Berkeley County Assessed Value
$231,300
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bonneau, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29431 | $71,920 | $105,300 | $161,800 | $250,300 | $396,380 |
Source: Ownwell
Property Tax Bills Across Bonneau, South Carolina
In Bonneau, Berkeley County, SC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the property's market value. Homeowners in Bonneau face property tax bills that vary widely, reflecting the diversity in property values and tax rates within the area. For instance, the tax bill at the 25th percentile is $597, while at the 75th percentile, it rises to $1,552. The 90th percentile tax bill can reach up to $2,775. The median home price in Bonneau is $161,800, and the median property tax bill is $897, which is lower than the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable for residents. However, the variability in tax bills means that homeowners with higher-valued properties may still face significant annual expenses. Understanding these factors can help residents better anticipate their financial obligations and plan accordingly.
Average Bonneau Tax Bill
$897
Average Berkeley County Tax Bill
$1,364
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Bonneau, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29431 | $424 | $597 | $897 | $1,552 | $2,775 |
Source: Ownwell