Blacksburg, South Carolina Property Taxes
The median property tax rate in Blacksburg, SC is 0.43%, significantly lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Blacksburg, the typical annual property tax bill amounts to $268, well below the national median of $2,690. Property taxes in Blacksburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Blacksburg'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 Blacksburg or another part of Cherokee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Blacksburg, 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 Blacksburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blacksburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blacksburg 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 Blacksburg, South Carolina
Property taxes in Blacksburg, 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 Blacksburg is 0.43%, which is significantly lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Blacksburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blacksburg 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 Blacksburg's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29702 has both the highest and lowest median property tax rate of 0.43%. Understanding how these areas compare with Blacksburg provides valuable insights into the varying tax landscape across Cherokee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blacksburg Tax Rate
0.43%
Average Cherokee County Tax Rate
0.43%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blacksburg, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29702 | 0.13% | 0.29% | 0.43% | 0.83% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Blacksburg, South Carolina
In Blacksburg, 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 Cherokee 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 Blacksburg, 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 Blacksburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 29702 has both the highest and lowest median tax bills, averaging $268.
Property Tax Assessment Values Across Blacksburg, South Carolina
Source: Ownwell
$54,300
$81,850
$109,400
Average Blacksburg Assessed Value
$54,300
Average Cherokee County Assessed Value
$82,600
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blacksburg, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29702 | $10,000 | $23,420 | $54,300 | $117,825 | $193,230 |
Source: Ownwell
Property Tax Bills Across Blacksburg, South Carolina
In Blacksburg, Cherokee County, SC, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The median home price in Blacksburg is $54,300, and property tax rates are applied to this assessed value to determine the final tax bill. Factors such as property location, improvements, and exemptions can influence the assessed value. For homeowners in Blacksburg, the property tax bill can vary significantly. For instance, the tax bill at the 25th percentile is $138, while at the 75th percentile, it rises to $566. At the 90th percentile, homeowners might see tax bills as high as $980. These figures illustrate the range of property tax burdens that residents might face. While the highest and lowest median tax bills in the area are both $268, this still compares favorably to the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their property tax obligations and manage their finances accordingly.
Average Blacksburg Tax Bill
$268
Average Cherokee County Tax Bill
$381
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Blacksburg, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29702 | $45 | $138 | $268 | $566 | $980 |
Source: Ownwell