Swansea, South Carolina Property Taxes
The median property tax rate in Swansea, 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 $73,225 in Swansea, the typical annual property tax bill amounts to $852, which is significantly lower than the national median of $2,690. Property taxes in Swansea are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Swansea'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 Swansea 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
Swansea, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$557
Ownwell’s Swansea Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Swansea with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Swansea 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 Swansea, South Carolina
Property taxes in Swansea, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Swansea is 0.76%, lower than both the South Carolina state median of 0.57% and the U.S. national median of 0.99%. Local government entities within Swansea set these rates annually, and they can vary significantly across different neighborhoods. Each year, Swansea 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 Swansea's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29160 zip code has the highest median property tax rate of 0.76%, while the same 29160 zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Swansea provides valuable insights into the varying tax landscape across Orangeburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Swansea Tax Rate
0.76%
Average Orangeburg County Tax Rate
0.81%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Swansea, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29160 | 0.44% | 0.76% | 0.76% | 2.03% | 2.45% |
Source: Ownwell
Property Tax Assessment Values Across Swansea, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Swansea, 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 Orangeburg 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 Swansea, 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 Swansea helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $852 in the 29160 zip code, which is also the lowest median tax bill.
Average Swansea Assessed Value
$73,225
Average Orangeburg County Assessed Value
$41,835
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Swansea, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29160 | $48,354 | $59,288 | $73,225 | $85,560 | $104,175 |
Source: Ownwell
Property Tax Bills Across Swansea, South Carolina
In Swansea, Orangeburg County, SC, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property improvements, changes in market conditions, and local government budgets can affect the assessed value and, consequently, the tax bill. Homeowners in Swansea experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $581, while at the 75th percentile, it rises to $1241. For those in the 90th percentile, the tax bill can reach up to $1594. The highest median tax bill in the area is $852, which is also the lowest median tax bill, both found in the 29160 zip code. Comparatively, the national median property tax rate is 0.99%, which can help homeowners in Swansea understand how their local tax obligations measure up against the broader national landscape. This variability in tax bills underscores the importance of understanding local property tax assessments and their impact on household finances.
Average Swansea Tax Bill
$852
Average Orangeburg County Tax Bill
$620
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Swansea, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29160 | $320 | $581 | $852 | $1,241 | $1,594 |
Source: Ownwell