Chappells, South Carolina Property Taxes
The median property tax rate in Chappells, SC is 0.74%, slightly above the South Carolina state median of 0.72% but still below the national median of 0.99%. With a median home value of $116,600 in Chappells, the typical annual property tax bill amounts to $922, which is significantly lower than the national median of $2,690. Property taxes in Chappells are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Chappells' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Chappells or another part of Newberry County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chappells, 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 Chappells Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chappells with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chappells 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 Chappells, South Carolina
Property taxes in Chappells, South Carolina, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Chappells is 0.74%, slightly lower than the U.S. national median of 0.99%. Local government entities within Chappells set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chappells 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 Chappells' effective property tax rate to other areas in South Carolina and the national median. For comparison, the zip code 29037 has both the highest and lowest median property tax rate of 0.74%. Understanding how these figures compare with Chappells provides valuable insights into the varying tax landscape across Newberry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chappells Tax Rate
0.74%
Average Newberry County Tax Rate
0.76%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chappells, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29037 | 0.39% | 0.58% | 0.74% | 1.69% | 2.20% |
Source: Ownwell
Property Tax Assessment Values Across Chappells, South Carolina
In Chappells, 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 Newberry 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 Chappells, 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 Chappells helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Chappells is $116,600, with median tax bills ranging from $340 at the 25th percentile to $3,244 at the 90th percentile. Interestingly, the zip code with both the highest and lowest median tax bill is 29037, at $922.
Property Tax Assessment Values Across Chappells, South Carolina
Source: Ownwell
$33,700
$211,000
$388,300
Average Chappells Assessed Value
$116,600
Average Newberry County Assessed Value
$69,300
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chappells, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29037 | $12,320 | $40,400 | $116,600 | $212,200 | $325,300 |
Source: Ownwell
Property Tax Bills Across Chappells, South Carolina
In Chappells, located in Newberry County, SC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor's office, which evaluates the market value of the property and applies an assessment ratio. For residential properties, this ratio is typically 4% of the market value. Once the assessed value is established, the local tax rate, also known as the millage rate, is applied. Homeowners in Chappells see a range of tax bills, with the median tax bill being $922. Lower-end tax bills, at the 25th percentile, are around $340, while higher-end tax bills, at the 75th percentile, can reach up to $1,862. The top 10% of tax bills can go as high as $3,244. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding these factors helps in anticipating annual property tax obligations and planning their finances accordingly.
Average Chappells Tax Bill
$922
Average Newberry County Tax Bill
$768
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Chappells, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29037 | $120 | $340 | $922 | $1,862 | $3,244 |
Source: Ownwell