Hopkins, South Carolina Property Taxes
The median property tax rate in Hopkins, SC is 1.24%, considerably higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Hopkins, the typical annual property tax bill reaches $766, which is below the national median of $2,690. Property taxes in Hopkins are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hopkins' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hopkins 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
Hopkins, 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 Hopkins Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hopkins with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hopkins 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 Hopkins, South Carolina
Property taxes in Hopkins, 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 Hopkins is 1.24%, higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Hopkins set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hopkins 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 Hopkins's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29061 zip code has the highest median property tax rate of 1.24%, while the same zip code also has the lowest median tax rate of 1.24%. Understanding how these cities compare with Hopkins 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 Hopkins Tax Rate
1.24%
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 Hopkins, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29061 | 0.50% | 0.77% | 1.24% | 2.69% | 4.39% |
Source: Ownwell
Property Tax Assessment Values Across Hopkins, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hopkins, 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 Hopkins, 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 Hopkins is $64,900, with tax bills ranging from $368 at the 25th percentile to $2,181 at the 90th percentile. The zip code with the highest median tax bill is 29061, with a median tax bill of $766. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hopkins Assessed Value
$64,900
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 Hopkins, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29061 | $7,500 | $17,700 | $64,900 | $123,000 | $188,000 |
Source: Ownwell
Property Tax Bills Across Hopkins, South Carolina
Property tax bills in Hopkins, located in Richland County, SC, are calculated based on the assessed value of a property, which is derived from its market value. The median home price in Hopkins is $64,900. Property taxes are determined by multiplying the assessed value by the local tax rate. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value. Homeowners in Hopkins experience a range of tax bills, with the 25th percentile paying around $368 and the 75th percentile paying up to $1,377. At the 90th percentile, tax bills can reach $2,181. The highest and lowest median tax bills in the area are both $766, specifically in the 29061 zip code. These property taxes support essential local services, including schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Hopkins homeowners may find their property tax rates relatively manageable, impacting their overall cost of homeownership and community investment.
Average Hopkins Tax Bill
$766
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 Hopkins, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29061 | $161 | $368 | $766 | $1,377 | $2,181 |
Source: Ownwell