Fork, South Carolina Property Taxes
The median property tax rate in Fork, South Carolina is 1.82%, 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 Fork, the typical annual property tax bill reaches $152, exceeding the national median of $2,690. Property taxes in Fork 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 Fork'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 Fork or another part of Dillon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fork, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.82%
Estimate Property Tax Bill
$152
Ownwell’s Fork Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fork with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fork 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 Fork, South Carolina
Property taxes in Fork, South Carolina, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Fork is 1.82%, significantly higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Fork set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fork 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 Fork's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29543 zip code has the highest median property tax rate of 1.82%, while the same zip code also has the lowest median tax rate of 1.82%. Understanding how these cities compare with Fork 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 Fork Tax Rate
1.82%
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 Fork, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29543 | 1.79% | 1.80% | 1.82% | 1.94% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Fork, South Carolina
In Fork, 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 Fork, 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 Fork helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fork is $8,334, with annual tax bills ranging from $148 at the 25th percentile to $1,029 at the 90th percentile. The highest and lowest median tax bills, both at $152, are found in the 29543 zip code.
Average Fork Assessed Value
$8,334
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 Fork, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29543 | $8,136 | $8,210 | $8,334 | $34,567 | $50,307 |
Source: Ownwell
Property Tax Bills Across Fork, South Carolina
In Fork, located in Dillon County, SC, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor who evaluates the property's market value and then applies an assessment ratio. This ratio is a percentage of the market value, which varies depending on the type of property. The local tax rate, also known as the millage rate, is then applied to the assessed value to determine the annual tax bill. Various factors influence the property tax bill, including property improvements, market conditions, and any applicable exemptions or deductions. For homeowners in Fork, the tax bill can vary significantly. For example, the 25th percentile tax bill is $148, while the 75th percentile reaches $700, and the 90th percentile can go up to $1029. These figures highlight the range of property tax burdens that homeowners might face, which is relatively low compared to the national median property tax rate of 0.99%. Understanding these elements helps homeowners anticipate their tax obligations and manage their finances better.
Average Fork Tax Bill
$152
Average Dillon County Tax Bill
$372
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Fork, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29543 | $146 | $148 | $152 | $700 | $1,029 |
Source: Ownwell