Green Sea, South Carolina Property Taxes
The median property tax rate in Green Sea, SC is 0.46%, significantly lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Green Sea at $77,000, the typical annual property tax bill is $371, well below the national median of $2,690. Property taxes in Green Sea 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 Green Sea'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 Green Sea or another part of Horry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Green Sea, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$354
Ownwell’s Green Sea Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Green Sea with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Green Sea 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 Green Sea, South Carolina
Property taxes in Green Sea, 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 Green Sea is 0.46%, which is below the U.S. national median of 0.99%. Local government entities within Green Sea set these rates annually, and they can vary significantly across different neighborhoods. Each year, Green Sea 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 Green Sea's effective property tax rate to other areas in Horry County and the national median. For comparison, the 29545 zip code has the highest median property tax rate of 0.46%, while the same zip code also has the lowest median tax rate of 0.46%. Understanding how these areas compare with Green Sea provides valuable insights into the varying tax landscape across Horry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Green Sea Tax Rate
0.46%
Average Horry County Tax Rate
0.81%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Green Sea, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29545 | 0.13% | 0.26% | 0.46% | 1.15% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Green Sea, South Carolina
In Green Sea, 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 Horry 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 Green Sea, 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 Green Sea is $77,000, with tax bills ranging from $186 at the 25th percentile to $1,146 at the 90th percentile. The zip code with the highest and lowest median tax bill is 29545, both at $371. Being aware of these valuation processes in Green Sea helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Green Sea, South Carolina
Source: Ownwell
$5,650
$209,880
$414,110
Average Green Sea Assessed Value
$77,000
Average Horry County Assessed Value
$160,000
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Green Sea, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29545 | $11,206 | $35,270 | $77,000 | $157,050 | $260,776 |
Source: Ownwell
Property Tax Bills Across Green Sea, South Carolina
In Green Sea, SC, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. For instance, if the median home price is $77,000, the assessed value is determined by the county's assessment ratio. The local tax rate is then applied to this assessed value to generate the tax bill. Several factors influence the final tax bill, including the property's location within Horry County and any applicable exemptions or deductions. For homeowners in Green Sea, tax bills can vary significantly. The 25th percentile tax bill is around $186, while the 75th percentile reaches $703, and the 90th percentile can go up to $1,146. Compared to the national median property tax rate of 0.99%, Green Sea's property taxes can be relatively affordable, particularly for those at the lower end of the tax spectrum. This variability affects homeowners differently, with some benefiting from lower taxes while others may face higher financial responsibilities.
Average Green Sea Tax Bill
$371
Average Horry County Tax Bill
$1,084
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Green Sea, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29545 | $82 | $186 | $371 | $703 | $1,146 |
Source: Ownwell