Boiling Springs, South Carolina Property Taxes
The median property tax rate in Boiling Springs, SC is 0.58%, significantly lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With a median home value of $217,600 in Boiling Springs, the typical annual property tax bill is $1,388, which is well below the national median of $2,690. Property taxes in Boiling Springs are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Boiling Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Boiling Springs or another part of Spartanburg County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Boiling Springs, 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 Boiling Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boiling Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boiling Springs 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 Boiling Springs, South Carolina
Property taxes in Boiling Springs, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Boiling Springs is 0.58%, considerably lower than the U.S. national median of 0.99%. Local government entities within Boiling Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boiling Springs 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 Boiling Springs' effective property tax rate to other areas in South Carolina and the national median. For comparison, the 29316 zip code has the same median property tax rate of 0.58%. Understanding how these areas compare with Boiling Springs provides valuable insights into the varying tax landscape across Spartanburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boiling Springs Tax Rate
0.58%
Average Spartanburg County Tax Rate
0.63%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boiling Springs, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29316 | 0.41% | 0.51% | 0.58% | 0.67% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Boiling Springs, South Carolina
In Boiling Springs, 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 Spartanburg 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 Boiling Springs, 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 Boiling Springs 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 $1,388 in the 29316 zip code, which also has the lowest median tax bill at $1,388.
Property Tax Assessment Values Across Boiling Springs, South Carolina
Source: Ownwell
$9,200
$124,850
$240,500
Average Boiling Springs Assessed Value
$217,600
Average Spartanburg County Assessed Value
$171,600
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boiling Springs, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29316 | $90,040 | $172,400 | $217,600 | $285,000 | $368,260 |
Source: Ownwell
Property Tax Bills Across Boiling Springs, South Carolina
In Boiling Springs, located in Spartanburg County, SC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessment rate in South Carolina is typically 4% of the market value for owner-occupied residences. For example, with a median home price of $217,600, the assessed value would be approximately $8,704. The local tax rate is then applied to this assessed value to determine the tax bill. In Boiling Springs, the median tax bill is $1,388, which is significantly higher than the national median property tax rate of 0.99%. Homeowners in the 25th percentile can expect a tax bill around $1,029, while those in the 75th percentile might see bills as high as $2,002. At the 90th percentile, tax bills can reach up to $3,397. These property taxes fund various local services, including schools, public safety, and infrastructure, directly impacting community quality and property values.
Average Boiling Springs Tax Bill
$1,388
Average Spartanburg County Tax Bill
$1,309
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Boiling Springs, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29316 | $707 | $1,029 | $1,388 | $2,002 | $3,397 |
Source: Ownwell