Garnett, South Carolina Property Taxes
The median property tax rate in Garnett, South Carolina is 0.69%, which is lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With a median home value of $17,300 in Garnett, the typical annual property tax bill amounts to $190, significantly below the national median of $2,690. Property taxes in Garnett are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Garnett'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 Garnett or another part of Jasper County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Garnett, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$119
Ownwell’s Garnett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garnett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garnett 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 Garnett, South Carolina
Property taxes in Garnett, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Garnett is 0.56%, which is lower than both the South Carolina state median of 0.57% and the U.S. national median of 0.99%. Local government entities within Garnett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garnett 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 Garnett's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29922 zip code has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with Garnett provides valuable insights into the varying tax landscape across Jasper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Garnett Tax Rate
0.69%
Average Jasper County Tax Rate
0.79%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garnett, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29922 | 0.32% | 0.57% | 0.69% | 1.95% | 1.95% |
Source: Ownwell
Property Tax Assessment Values Across Garnett, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Garnett, 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 Jasper 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 Garnett, 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. For instance, the highest median tax bill in the area is $190 in the 29922 zip code, while the lowest is also $190 in the same zip code. Being aware of these valuation processes in Garnett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Garnett Assessed Value
$17,300
Average Jasper County Assessed Value
$92,100
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Garnett, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29922 | $2,080 | $6,800 | $17,300 | $80,650 | $160,900 |
Source: Ownwell
Property Tax Bills Across Garnett, South Carolina
In Garnett, located in Jasper County, SC, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value of the property, which in Garnett is influenced by various factors including the median home price of $17,300. Local tax rates are then applied to this assessed value to determine the annual tax bill. Homeowners in Garnett can expect a wide range in their tax bills. For instance, the 25th percentile tax bill is $58, while the 75th percentile tax bill reaches $693. At the higher end, the 90th percentile tax bill can be as high as $1,559. This variability means that while some homeowners may find their property taxes manageable, others might face significantly higher bills. Comparatively, the highest and lowest median tax bills in the area are both recorded at $190, which is considerably lower than the national median property tax rate of 0.99%. This lower tax burden can make Garnett an attractive place for homeowners seeking affordability.
Average Garnett Tax Bill
$190
Average Jasper County Tax Bill
$815
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Garnett, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29922 | $27 | $58 | $190 | $693 | $1,559 |
Source: Ownwell