Jefferson, South Carolina Property Taxes
The median property tax rate in Jefferson, SC is 0.66%, 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 Jefferson at $65,750, the typical annual property tax bill is $458, well below the national median of $2,690. Property taxes in Jefferson are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Jefferson'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 Jefferson 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
Jefferson, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$434
Ownwell’s Jefferson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jefferson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jefferson 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 Jefferson, South Carolina
Property taxes in Jefferson, 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 Jefferson is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Jefferson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jefferson 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 Jefferson's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29718 zip code has the highest median property tax rate of 0.66%, while also having the lowest median tax rate of 0.66%. Understanding how these cities compare with Jefferson 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 Jefferson Tax Rate
0.66%
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 Jefferson, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29718 | 0.30% | 0.51% | 0.66% | 1.98% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Jefferson, South Carolina
In Jefferson, 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 local 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 Jefferson, 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 Jefferson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Jefferson is $458 in zip code 29718, which is also the lowest median tax bill in the area.
Property Tax Assessment Values Across Jefferson, South Carolina
Source: Ownwell
$15,800
$170,700
$325,600
Average Jefferson Assessed Value
$65,750
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 Jefferson, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29718 | $9,440 | $21,950 | $65,750 | $114,925 | $165,090 |
Source: Ownwell
Property Tax Bills Across Jefferson, South Carolina
In Jefferson, SC, property tax bills are calculated based on the assessed value of a home, which is determined by local county assessors. The assessed value is typically a percentage of the market value of the property. Homeowners in Jefferson can expect their tax bills to vary significantly based on the assessed value of their homes. For instance, the median home price in Jefferson is $65,750. The tax bill for homes at the 25th percentile is around $191, while those at the 75th percentile face tax bills of approximately $865. At the 90th percentile, homeowners might see tax bills as high as $1,308. These tax rates are influenced by local government budgets and the need to fund public services such as schools, infrastructure, and emergency services. Homeowners in Jefferson should be aware that even slight changes in their home's assessed value can significantly impact their annual tax bill. Compared to the national median property tax rate of 0.99%, Jefferson's property tax rates can offer some relief to homeowners, depending on their property's assessed value.
Average Jefferson Tax Bill
$458
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 Jefferson, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29718 | $121 | $191 | $458 | $865 | $1,308 |
Source: Ownwell