Bennettsville, South Carolina Property Taxes
The median property tax rate in Bennettsville, SC is 0.71%, slightly below the South Carolina state median of 0.72% and considerably lower than the national median of 0.99%. With a median home value of $38,615 in Bennettsville, the typical annual property tax bill is $288, significantly less than the national median of $2,690. Property taxes in Bennettsville 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 Bennettsville'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 Bennettsville 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
Bennettsville, 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 Bennettsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bennettsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bennettsville 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 Bennettsville, South Carolina
Property taxes in Bennettsville, 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 Bennettsville is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Bennettsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bennettsville 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 Bennettsville's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29512 has both the highest and lowest median property tax rate of 0.71%. Understanding how these cities compare with Bennettsville provides valuable insights into the varying tax landscape across Marlboro County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bennettsville Tax Rate
0.71%
Average Marlboro County Tax Rate
0.75%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bennettsville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29512 | 0.29% | 0.48% | 0.71% | 1.89% | 4.14% |
Source: Ownwell
Property Tax Assessment Values Across Bennettsville, South Carolina
In Bennettsville, 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 Marlboro 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 Bennettsville, 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. The median home price in Bennettsville is $38,615, with tax bills ranging from $170 at the 25th percentile to $810 at the 90th percentile. The zip code 29512 has the highest and lowest median tax bill of $288. By understanding 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 Bennettsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bennettsville, South Carolina
Source: Ownwell
$20,660
$36,422
$52,183
Average Bennettsville Assessed Value
$38,615
Average Marlboro County Assessed Value
$33,059
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bennettsville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29512 | $3,928 | $9,659 | $38,615 | $76,043 | $118,965 |
Source: Ownwell
Property Tax Bills Across Bennettsville, South Carolina
In Bennettsville, property tax bills are determined based on the assessed value of your home and the local tax rate. The median home price in Bennettsville is $38,615, and the property tax rate in Marlboro County is applied to this assessed value to calculate your tax bill. Several factors influence the final amount, including the home's market value, any applicable exemptions, and the specific tax rate set by local authorities. For homeowners in Bennettsville, the 25th percentile tax bill is around $170, while the 75th percentile reaches $508. At the 90th percentile, property taxes can go up to $810. The highest median tax bill in the area is $288, which is significantly lower than the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable, but it also means fewer resources for public services funded by property taxes. Understanding these factors helps homeowners anticipate their annual property tax liabilities.
Average Bennettsville Tax Bill
$288
Average Marlboro County Tax Bill
$278
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Bennettsville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29512 | $36 | $170 | $288 | $508 | $810 |
Source: Ownwell