Okatie, South Carolina Property Taxes
The median property tax rate in Okatie, SC is 0.76%, which is lower than the national median of 0.99% but slightly higher than the South Carolina state median of 0.72%. With a median home value of $357,100 in Okatie, the typical annual property tax bill amounts to $2,826, surpassing the national median of $2,690. Property taxes in Okatie are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Okatie'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 Okatie 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
Okatie, 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 Okatie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Okatie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Okatie 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 Jasper County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Okatie, South Carolina
Property taxes in Okatie, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Okatie is 0.76%, lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Okatie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Okatie 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 Okatie's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29909 ZIP code has the highest median property tax rate of 0.76%, while the same ZIP code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Okatie 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 Okatie Tax Rate
0.76%
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 Okatie, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29909 | 0.71% | 0.73% | 0.76% | 0.81% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Okatie, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Okatie, 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 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 Okatie, 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 Okatie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Okatie is $357,100, with the 25th percentile tax bill at $2,261 and the 75th percentile at $3,555. The highest and lowest median tax bill is $2,826 in zip code 29909.
Average Okatie Assessed Value
$357,100
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 Okatie, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29909 | $250,000 | $297,900 | $357,100 | $425,025 | $487,340 |
Source: Ownwell
Property Tax Bills Across Okatie, South Carolina
In Okatie, located in Jasper County, SC, property tax bills are calculated based on the assessed value of a homeowner’s property. The assessed value is a percentage of the market value, which is determined by the county assessor. Once the assessed value is established, various local tax rates are applied to calculate the final tax bill. These rates can include county, school district, and other municipal taxes. Several factors influence the final tax bill, including the property's location, the local tax rate, and any applicable exemptions or deductions. For example, the median home price in Okatie is $357,100. Homeowners in the 25th percentile can expect a tax bill around $2,261, while those in the 75th percentile might see bills closer to $3,555. The 90th percentile tax bill can reach up to $4,311. These property taxes significantly impact homeowners by affecting their annual housing costs. Understanding how these taxes are calculated can help homeowners better manage their finances and anticipate future expenses.
Average Okatie Tax Bill
$2,826
Average Jasper County Tax Bill
$815
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Okatie, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29909 | $1,853 | $2,261 | $2,826 | $3,555 | $4,311 |
Source: Ownwell