Nesmith, South Carolina Property Taxes
The median property tax rate in Nesmith, SC is 1.02%, slightly higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Nesmith, the typical annual property tax bill reaches $192, which is significantly lower than the national median of $2,690. Property taxes in Nesmith 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 Nesmith'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 Nesmith or another part of Williamsburg County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nesmith, 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 Nesmith Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nesmith with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nesmith 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 Nesmith, South Carolina
Property taxes in Nesmith, 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 Nesmith is 1.02%, higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Nesmith set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nesmith 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 Nesmith's effective property tax rate to other areas in South Carolina and the national median. For comparison, the 29580 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Nesmith provides valuable insights into the varying tax landscape across Williamsburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nesmith Tax Rate
1.02%
Average Williamsburg County Tax Rate
1.16%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nesmith, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29580 | 0.10% | 0.14% | 1.02% | 2.19% | 3.80% |
Source: Ownwell
Property Tax Assessment Values Across Nesmith, South Carolina
In Nesmith, 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 Williamsburg 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. 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 Nesmith helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Nesmith is $192.00, found in the 29580 zip code, which is also the lowest median tax bill.
Average Nesmith Assessed Value
$22,000
Average Williamsburg County Assessed Value
$21,858
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nesmith, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29580 | $4,250 | $7,518 | $22,000 | $69,331 | $156,938 |
Source: Ownwell
Property Tax Bills Across Nesmith, South Carolina
In Nesmith, property tax bills are determined based on the assessed value of a home. The median home price in Nesmith is $22,000, and the tax rate is applied to this assessed value to calculate the annual tax bill. Property taxes are influenced by several factors, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. For homeowners in Nesmith, the tax bill can vary significantly. For instance, the tax bill at the 25th percentile is $84, while at the 75th percentile, it rises to $436. At the 90th percentile, homeowners might face a tax bill as high as $1,156. The highest and lowest median tax bills in Nesmith are both $192, indicating a relatively consistent tax rate across the area. Compared to the national median property tax rate of 0.99%, Nesmith's property tax rates reflect the local economic conditions and property values, impacting homeowners differently based on their property's assessed value.
Average Nesmith Tax Bill
$192
Average Williamsburg County Tax Bill
$188
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Nesmith, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29580 | $20 | $84 | $192 | $436 | $1,156 |
Source: Ownwell