Sumter, South Carolina Property Taxes
The median property tax rate in Sumter, SC is 0.84%, which is lower than the national median of 0.99% but higher than the South Carolina state median of 0.72%. With a median home value of $52,513 in Sumter, the typical annual property tax bill is around $467, significantly below the national median of $2,690. Property taxes in Sumter are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Sumter'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 Sumter 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
Sumter, 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 Sumter Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sumter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sumter 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 Sumter, South Carolina
Property taxes in Sumter, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sumter is 0.84%, lower than both the South Carolina state median of 0.86% and the U.S. national median of 0.99%. Local government entities within Sumter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sumter 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 Sumter's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29150 zip code has the highest median property tax rate of 1.53%, while the 29154 zip code has the lowest median tax rate of 0.73%. Understanding how these cities compare with Sumter provides valuable insights into the varying tax landscape across Sumter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sumter Tax Rate
0.84%
Average Sumter County Tax Rate
1.06%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sumter, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29150 | 0.40% | 0.70% | 1.53% | 2.28% | 2.50% |
| 29153 | 0.34% | 0.64% | 1.43% | 2.08% | 2.55% |
| 29154 | 0.42% | 0.63% | 0.73% | 1.98% | 2.58% |
Source: Ownwell
Property Tax Assessment Values Across Sumter, South Carolina
In Sumter, 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 local 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 Sumter, 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 highest median tax bill in Sumter is $610 in the 29154 zip code, while the lowest is $259 in the 29153 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sumter Assessed Value
$52,513
Average Sumter County Assessed Value
$37,792
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sumter, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29150 | $3,000 | $8,500 | $46,218 | $137,084 | $242,440 |
| 29153 | $4,086 | $7,392 | $26,283 | $100,516 | $186,400 |
| 29154 | $6,117 | $11,103 | $99,571 | $165,765 | $215,322 |
Source: Ownwell
Property Tax Bills Across Sumter, South Carolina
Property tax bills in Sumter, SC, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. For instance, in Sumter County, the median home price is $52,513. Homeowners' tax bills can vary significantly, with the 25th percentile tax bill at $137 and the 75th percentile reaching $1,122. At the higher end, the 90th percentile tax bill can go up to $1,822. Several factors influence these tax bills, including property location, home value, and local tax rates. The highest median tax bill in Sumter is $610 in the 29154 zip code, while the lowest is $259 in the 29153 zip code. These property taxes can have a substantial impact on homeowners, affecting monthly budgets and overall financial planning. Compared to the national median property tax rate of 0.99%, Sumter's rates and bills provide a unique landscape for property owners to navigate.
Average Sumter Tax Bill
$467
Average Sumter County Tax Bill
$351
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Sumter, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29150 | $57 | $123 | $501 | $1,221 | $2,063 |
| 29153 | $59 | $114 | $259 | $822 | $1,407 |
| 29154 | $72 | $168 | $610 | $1,170 | $1,729 |
Source: Ownwell