Landrum, South Carolina Property Taxes
The median property tax rate in Landrum, SC is 0.76%, slightly higher than the state median of 0.72% but below the national median of 0.99%. With a median home value of $171,100 in Landrum, the typical annual property tax bill comes to $1,469, which is significantly lower than the national median of $2,690. Property taxes in Landrum are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Landrum'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 Landrum 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
Landrum, 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 Landrum Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Landrum with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Landrum 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 Landrum, South Carolina
Property taxes in Landrum, 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 Landrum is 0.76%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Landrum set these rates annually, and they can vary significantly across different neighborhoods. Each year, Landrum 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 Landrum's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29356 has the highest median property tax rate of 0.76%, while the lowest median tax rate is also 0.76% in the same zip code. Understanding how these cities compare with Landrum 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 Landrum Tax Rate
0.76%
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 Landrum, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29356 | 0.35% | 0.54% | 0.76% | 1.11% | 2.27% |
Source: Ownwell
Property Tax Assessment Values Across Landrum, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Landrum, South Carolina. The market value represents 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 Landrum, 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. The median home price in Landrum is $171,100, with the 25th percentile tax bill at $799 and the 75th percentile tax bill at $2,478. The zip code with the highest and lowest median tax bill is 29356, both at $1,469. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Landrum Assessed Value
$171,100
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 Landrum, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29356 | $17,300 | $78,600 | $171,100 | $261,950 | $412,487 |
Source: Ownwell
Property Tax Bills Across Landrum, South Carolina
In Landrum, Spartanburg County, SC, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. The local tax rate, also known as the millage rate, is then applied to this assessed value to determine the tax bill. For instance, with a median home price of $171,100, homeowners can expect varying tax bills depending on their property's valuation and specific circumstances. Several factors influence the property tax bill, including property size, location, and any applicable exemptions. In Landrum, the 25th percentile tax bill is around $799, while the 75th percentile reaches approximately $2,478. At the higher end, the 90th percentile tax bill can climb up to $3,956. The highest median tax bill recorded in the area is $1,469, which is notably lower than the national median property tax rate of 0.99%. These property tax bills significantly impact homeowners, influencing their overall cost of living and affecting decisions related to property investment and homeownership.
Average Landrum Tax Bill
$1,469
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 Landrum, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29356 | $336 | $799 | $1,469 | $2,478 | $3,956 |
Source: Ownwell