Modoc, South Carolina Property Taxes
The median property tax rate in Modoc, South Carolina is 0.49%, considerably lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Modoc, the typical annual property tax bill reaches $428, significantly below the national median of $2,690. Property taxes in Modoc 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 Modoc'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 Modoc 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
Modoc, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$401
Ownwell’s Modoc Property Tax Bill Calculator is an invaluable tool for any homeowner, real estate investor, or potential buyer looking to estimate their annual property taxes in Modoc. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Modoc to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, making it easier to plan and budget. For those interested in more granular details, neighborhood-level trends and information are available by scrolling down. Your property’s assessed value, determined by the county, includes any applicable exemptions, ensuring a precise calculation for property tax purposes.
Property Tax Rates Across Modoc, South Carolina
Property taxes in Modoc, 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 Modoc is 0.49%, which is lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Modoc set these rates annually, and they can vary significantly across different neighborhoods. Each year, Modoc 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 Modoc's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29838 zip code has both the highest and lowest median property tax rate of 0.49%. Understanding how these cities compare with Modoc provides valuable insights into the varying tax landscape across Edgefield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Modoc Tax Rate
0.49%
Average Edgefield County Tax Rate
0.56%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Modoc, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29838 | 0.18% | 0.33% | 0.49% | 0.68% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Modoc, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Modoc, South Carolina. 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 Edgefield 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. 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 Modoc helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 29838 in Modoc has a median tax bill of $428.
Average Modoc Assessed Value
$81,856
Average Edgefield County Assessed Value
$82,866
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Modoc, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29838 | $9,195 | $29,361 | $81,856 | $152,706 | $323,176 |
Source: Ownwell
Property Tax Bills Across Modoc, South Carolina
In Modoc, Edgefield County, SC, property tax bills are determined based on the assessed value of the property, which is a percentage of its market value. For homeowners, the median home price is $81,856. The local tax rate is applied to this assessed value to calculate the annual tax bill. Various factors, such as property improvements, location, and market trends, influence the assessed value. Homeowners in Modoc can expect their tax bills to vary significantly. At the 25th percentile, the tax bill is around $260, while at the 75th percentile, it's approximately $746. For those at the 90th percentile, the bill can reach up to $1,366. Comparatively, the highest and lowest median tax bills in the area are both $428, indicating some consistency within certain zip codes. Understanding these factors helps homeowners anticipate their financial obligations and manage their budgets effectively. This local rate contrasts with the national median property tax rate of 0.99%, highlighting regional differences in property tax burdens.
Average Modoc Tax Bill
$428
Average Edgefield County Tax Bill
$555
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Modoc, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29838 | $101 | $260 | $428 | $746 | $1,366 |
Source: Ownwell