Little Rock, South Carolina Property Taxes
The median property tax rate in Little Rock, South Carolina is 2.27%, significantly higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Little Rock, the typical annual property tax bill reaches $326, which is well below the national median of $2,690. Property taxes in Little Rock 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 Little Rock's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Little Rock 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
Little Rock, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.27%
Estimate Property Tax Bill
$327
Ownwell’s LITTLE ROCK Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LITTLE ROCK with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LITTLE ROCK 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 Little Rock, South Carolina
Property taxes in Little Rock, 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 Little Rock is 2.27%, significantly higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Little Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Little Rock 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 Little Rock's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29567 has the highest median property tax rate of 2.27%, while the same zip code also has the lowest median tax rate of 2.27%. Understanding how these areas compare with Little Rock 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 Little Rock Tax Rate
2.27%
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 Little Rock, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29567 | 1.76% | 1.85% | 2.27% | 3.18% | 3.70% |
Source: Ownwell
Property Tax Assessment Values Across Little Rock, South Carolina
In Little Rock, 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 Appraisal District 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 Little Rock, 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. The highest median tax bill in Little Rock is $326 in the 29567 zip code, while the lowest median tax bill is also $326 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Little Rock, South Carolina
Source: Ownwell
$2,107
$15,479
$28,850
Average Little Rock Assessed Value
$14,393
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 Little Rock, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29567 | $5,000 | $6,240 | $14,393 | $32,962 | $36,936 |
Source: Ownwell
Property Tax Bills Across Little Rock, South Carolina
In Little Rock, Dillon County, SC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Factors such as the property's location, size, and condition are considered in determining its market value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Little Rock, the tax bills can vary significantly. The median home price in the area is $14,393, resulting in a wide range of tax bills. The 25th percentile tax bill is $169, while the 75th percentile tax bill reaches $754, and the 90th percentile tax bill is $839. This variation shows how different factors can influence the final tax amount. Compared to the national median property tax rate of 0.99%, Little Rock's tax bills reflect the local economic conditions and property values, impacting homeowners' annual financial obligations.
Average Little Rock Tax Bill
$326
Average Dillon County Tax Bill
$372
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Little Rock, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29567 | $88 | $169 | $326 | $754 | $839 |
Source: Ownwell