Heath Springs, South Carolina Property Taxes
The median property tax rate in Heath Springs, SC is 0.61%, notably lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Heath Springs at $67,500, the typical annual property tax bill is $518, significantly below the national median of $2,690. Property taxes in Heath Springs 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 Heath Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Heath Springs 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
Heath Springs, 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 Heath Springs Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Heath Springs with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Heath Springs to project your property tax bill. This valuable tool helps you comprehend potential tax obligations. For those interested in observing trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, incorporating any applicable exemptions.
Property Tax Rates Across Heath Springs, South Carolina
Property taxes in Heath Springs, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Heath Springs is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Heath Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Heath Springs 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 Heath Springs' effective property tax rate to other areas in Lancaster County and the national median. For comparison, the zip code 29058 has both the highest and lowest median property tax rate of 0.61%. Understanding how these areas compare with Heath Springs provides valuable insights into the varying tax landscape across Lancaster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Heath Springs Tax Rate
0.61%
Average Lancaster County Tax Rate
0.65%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Heath Springs, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29058 | 0.27% | 0.56% | 0.61% | 1.98% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Heath Springs, South Carolina
In Heath Springs, 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 Lancaster 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 Heath Springs, 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. For instance, the median home price in Heath Springs is $67,500, with tax bills ranging from $232 at the 25th percentile to $1,562 at the 90th percentile. The zip code 29058 has both the highest and lowest median tax bill, valued at $518. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Heath Springs, South Carolina
Source: Ownwell
$15,800
$170,700
$325,600
Average Heath Springs Assessed Value
$67,500
Average Lancaster County Assessed Value
$164,500
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Heath Springs, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29058 | $11,800 | $31,500 | $67,500 | $124,100 | $205,683 |
Source: Ownwell
Property Tax Bills Across Heath Springs, South Carolina
In Heath Springs, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Lancaster County. The assessed value is a percentage of the property's market value, reflecting its worth on the open market. For homeowners in Heath Springs, the median home price is $67,500. Property tax bills can vary significantly, with the 25th percentile paying around $232 annually and the 75th percentile paying about $1,045. At the 90th percentile, the tax bill can reach up to $1,562. These taxes fund essential public services such as schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, the tax rate in Heath Springs offers a relatively affordable option for homeowners. However, the exact amount each homeowner pays can differ based on their property's assessed value and any applicable exemptions. Understanding how these factors interplay is crucial for homeowners to manage their financial planning effectively.
Average Heath Springs Tax Bill
$518
Average Lancaster County Tax Bill
$1,306
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Heath Springs, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29058 | $104 | $232 | $518 | $1,045 | $1,562 |
Source: Ownwell