Gadsden, South Carolina Property Taxes
The median property tax rate in Gadsden, SC is 2.43%, significantly higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Gadsden being $21,450, the typical annual property tax bill reaches $476, which is considerably lower than the national median of $2,690. Property taxes in Gadsden are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Gadsden'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 Gadsden 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
Gadsden, 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 Gadsden Property Tax Bill Calculator assists any homeowner, real estate investor, or potential owner in estimating their annual property taxes in Gadsden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gadsden 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 Gadsden, South Carolina
Property taxes in Gadsden, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gadsden is 2.43%, significantly higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Gadsden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gadsden 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 Gadsden's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29052 zip code has the highest median property tax rate of 2.43%, while the same zip code also has the lowest median tax rate of 2.43%. Understanding how these cities compare with Gadsden provides valuable insights into the varying tax landscape across Richland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gadsden Tax Rate
2.43%
Average Richland County Tax Rate
1.01%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gadsden, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29052 | 0.64% | 0.92% | 2.43% | 3.14% | 5.62% |
Source: Ownwell
Property Tax Assessment Values Across Gadsden, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Gadsden, 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 Richland County 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 Gadsden, 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 example, the zip code 29052 has the highest median tax bill of $476. 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 Gadsden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gadsden Assessed Value
$21,450
Average Richland County Assessed Value
$117,300
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gadsden, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29052 | $5,300 | $7,575 | $21,450 | $59,625 | $111,790 |
Source: Ownwell
Property Tax Bills Across Gadsden, South Carolina
In Gadsden, SC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Gadsden is $21,450. To determine the tax bill, the assessed value is multiplied by the local tax rate. Homeowners in Gadsden see a range of property tax bills, with the 25th percentile paying around $246 and the 75th percentile paying approximately $820. At the higher end, the 90th percentile of homeowners face tax bills up to $1,469. Several factors influence these tax bills, including property location, home value, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Gadsden's property tax rates reflect the local economic conditions and funding needs for public services. Homeowners must budget for these taxes as they can significantly impact overall housing costs, affecting affordability and financial planning. Understanding these components helps homeowners anticipate and manage their annual property tax obligations effectively.
Average Gadsden Tax Bill
$476
Average Richland County Tax Bill
$1,343
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Gadsden, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29052 | $103 | $246 | $476 | $820 | $1,469 |
Source: Ownwell