Dillon, South Carolina Property Taxes
The median property tax rate in Dillon, SC is 2.15%, considerably higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Dillon at $28,850, the typical annual property tax bill reaches $545, which is below the national median of $2,690. Property taxes in Dillon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Dillon'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 Dillon 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
Dillon, 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 Dillon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dillon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dillon 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 Dillon, South Carolina
Property taxes in Dillon, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dillon is 2.15%, significantly higher than the U.S. national median of 0.99%. Local government entities within Dillon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dillon 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. Understanding how Dillon's effective property tax rate compares to other areas provides valuable insights into the varying tax landscape across Dillon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dillon Tax Rate
2.15%
Average Dillon County Tax Rate
2.15%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dillon, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29536 | 1.74% | 1.82% | 2.15% | 2.16% | 3.48% |
Source: Ownwell
Property Tax Assessment Values Across Dillon, South Carolina
In Dillon, 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 Dillon 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 Dillon, 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 Dillon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 29536, with a median bill of $545.00, which is also the lowest median tax bill in the area.
Average Dillon Assessed Value
$28,850
Average Dillon County Assessed Value
$19,512
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dillon, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29536 | $3,957 | $8,004 | $28,850 | $54,198 | $78,782 |
Source: Ownwell
Property Tax Bills Across Dillon, South Carolina
In Dillon, SC, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Various factors influence the assessed value, including property size, location, and market conditions. Homeowners in Dillon face a range of tax bills, with the 25th percentile paying around $191 and the 75th percentile paying approximately $1,071 annually. For those in the 90th percentile, tax bills can reach up to $1,632. The median home price in Dillon is $28,850, significantly lower than many other areas, which can result in relatively lower property tax bills. However, even within Dillon, there is variation, with the highest median tax bill recorded at $545 in the zip code 29536. These taxes fund essential local services such as schools, roads, and emergency services, directly impacting the community's quality of life.
Average Dillon Tax Bill
$545
Average Dillon County Tax Bill
$372
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Dillon, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29536 | $101 | $191 | $545 | $1,071 | $1,632 |
Source: Ownwell