Gray Court, South Carolina Property Taxes
The median property tax rate in Gray Court, SC is 0.66%, lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Gray Court at $222,340, the typical annual property tax bill is $1,077, significantly below the national median of $2,690. Property taxes in Gray Court are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Gray Court'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 Gray Court or another part of Greenville County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gray Court, 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 Gray Court Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a straightforward way to estimate their annual property taxes in Gray Court. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Gray Court to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities with ease. For those interested in more granular insights, you can explore trends at a neighborhood level by scrolling down for localized information. Your property’s assessed value is determined by Greenville County for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Gray Court, South Carolina
Property taxes in Gray Court, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gray Court is 0.66%, significantly lower than the U.S. national median of 0.99%. Local government entities within Gray Court set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gray Court 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 Gray Court's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29645 zip code has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Gray Court provides valuable insights into the varying tax landscape across Greenville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gray Court Tax Rate
0.66%
Average Greenville County Tax Rate
0.80%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gray Court, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29645 | 0.51% | 0.60% | 0.66% | 0.67% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Gray Court, South Carolina
In Gray Court, 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 Greenville 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 Gray Court, 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 median home price in Gray Court is $222,340, with median tax bills ranging from $931 at the 25th percentile to $2,217 at the 90th percentile. 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 Gray Court, South Carolina
Source: Ownwell
$55,400
$147,390
$239,380
Average Gray Court Assessed Value
$222,340
Average Greenville County Assessed Value
$178,730
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gray Court, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29645 | $61,460 | $133,100 | $222,340 | $296,765 | $359,950 |
Source: Ownwell
Property Tax Bills Across Gray Court, South Carolina
In Gray Court, located in Greenville County, SC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value of the property. Once the assessed value is established, the local tax rate, or millage rate, is applied to calculate the property tax bill. Homeowners in Gray Court can expect their tax bills to vary significantly. For instance, the median home price in the area is $222,340. Tax bills at the 25th percentile are around $931, while those at the 75th percentile are approximately $1,505. For the highest 10% of property values, tax bills can reach up to $2,217. These taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, the tax rates in Gray Court can be considered relatively moderate, providing a balance between necessary public funding and homeowner affordability.
Average Gray Court Tax Bill
$1,077
Average Greenville County Tax Bill
$1,574
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Gray Court, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29645 | $823 | $931 | $1,077 | $1,505 | $2,217 |
Source: Ownwell