Yemassee, South Carolina Property Taxes
The median property tax rate in Yemassee, SC is 1.19%, higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Yemassee, the typical annual property tax bill reaches $536, which is significantly lower than the national median of $2,690. Property taxes in Yemassee are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Yemassee'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 Yemassee 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
Yemassee, 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 Yemassee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yemassee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yemassee 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 Yemassee, South Carolina
Property taxes in Yemassee, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yemassee is 1.19%, higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Yemassee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yemassee 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 Yemassee's effective property tax rate to other areas in South Carolina and the national median. For comparison, the 29945 zip code has the highest median property tax rate of 1.19%, while the same zip code also has the lowest median tax rate of 1.19%. Understanding how these areas compare with Yemassee provides valuable insights into the varying tax landscape across Hampton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yemassee Tax Rate
1.19%
Average Hampton County Tax Rate
1.01%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yemassee, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29945 | 0.49% | 0.97% | 1.19% | 3.00% | 3.33% |
Source: Ownwell
Property Tax Assessment Values Across Yemassee, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Yemassee, 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 Hampton County Assessor 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 Yemassee, 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 Yemassee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 29945 has the highest and lowest median tax bill at $536, reflecting the uniformity in assessed values across the region.
Average Yemassee Assessed Value
$19,700
Average Hampton County Assessed Value
$23,800
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yemassee, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29945 | $2,100 | $6,400 | $19,700 | $69,150 | $122,080 |
Source: Ownwell
Property Tax Bills Across Yemassee, South Carolina
In Yemassee, located in Hampton County, SC, property tax bills are calculated based on the assessed value of a property. The assessed value is a percentage of the market value, which is determined by the county assessor. Various factors, including property size, location, and improvements, influence this assessed value. Homeowners in Yemassee can expect their property tax bills to vary significantly, with the 25th percentile at $201 and the 75th percentile reaching $1260. For those in the 90th percentile, tax bills can go up to $2089. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services. With a median home price of $19,700, Yemassee's property tax rate remains competitive when compared to the national median property tax rate of 0.99%. Homeowners should stay informed about their property's assessed value and any potential exemptions or appeals to ensure they are not overpaying on their tax bills.
Average Yemassee Tax Bill
$536
Average Hampton County Tax Bill
$543
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Yemassee, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29945 | $89 | $201 | $536 | $1,260 | $2,089 |
Source: Ownwell