Society Hill, South Carolina Property Taxes
The median property tax rate in Society Hill, SC is 0.47%, 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 Society Hill, the typical annual property tax bill is $35, far below the national median of $2,690. Property taxes in Society Hill are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Society Hill'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 Society Hill or another part of Chesterfield County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Society Hill, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$38
Ownwell’s SOCIETY HILL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SOCIETY HILL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SOCIETY HILL 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 Society Hill, South Carolina
Property taxes in Society Hill, 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 Society Hill is 0.47%, which is lower than the U.S. national median of 0.99%. Local government entities within Society Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Society Hill 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 Society Hill's effective property tax rate to other areas in Chesterfield County and the national median. For comparison, the zip code 29593 has the highest median property tax rate of 0.47%, while the same zip code also has the lowest median tax rate of 0.47%. Understanding how these areas compare with Society Hill provides valuable insights into the varying tax landscape across Chesterfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Society Hill Tax Rate
0.47%
Average Chesterfield County Tax Rate
0.41%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Society Hill, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29593 | 0.12% | 0.34% | 0.47% | 0.47% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Society Hill, South Carolina
In Society Hill, 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 Chesterfield 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. 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. For example, properties in the 25th percentile have tax bills around $24, while those in the 75th percentile see bills near $56. Properties in the 90th percentile face tax bills of approximately $90. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Society Hill Assessed Value
$8,000
Average Chesterfield County Assessed Value
$6,000
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Society Hill, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29593 | $5,000 | $5,000 | $8,000 | $18,000 | $35,140 |
Source: Ownwell
Property Tax Bills Across Society Hill, South Carolina
In Society Hill, located in Chesterfield County, 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 tax bill. Several factors influence this calculation, including the property's location, size, and condition. For homeowners in Society Hill, the tax burden can vary significantly. For instance, the 25th percentile tax bill is around $24, while the 75th percentile tax bill reaches approximately $56, and the 90th percentile tax bill can go up to $90. These figures highlight the variability in property taxes within the area, reflecting differences in property values and assessments. Compared to the national median property tax rate of 0.99%, Society Hill's property taxes are relatively modest, making it an attractive option for homeowners seeking lower tax obligations. However, it's essential for homeowners to stay informed about their property's assessed value and any changes in local tax rates to manage their financial planning effectively.
Average Society Hill Tax Bill
$35
Average Chesterfield County Tax Bill
$26
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Society Hill, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29593 | $22 | $24 | $35 | $56 | $90 |
Source: Ownwell