Fort Mill, South Carolina Property Taxes
The median property tax rate in Fort Mill, SC is 0.81%, which is lower than the national median of 0.99% but higher than the South Carolina state median of 0.72%. With the median home value in Fort Mill at $322,743, the typical annual property tax bill is $2,626, slightly below the national median of $2,690. Property taxes in Fort Mill are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Fort Mill'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 Fort Mill 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
Fort Mill, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$2,614
Ownwell’s Fort Mill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Mill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Mill 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 Fort Mill, South Carolina
Property taxes in Fort Mill, 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 Fort Mill is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Fort Mill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Mill 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 Fort Mill's effective property tax rate to other areas in York County and the national median. For comparison, the 29715 zip code has the highest median property tax rate of 0.85%, while the 29708 zip code has the lowest median tax rate of 0.68%. Understanding how these areas compare with Fort Mill provides valuable insights into the varying tax landscape across York County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Mill Tax Rate
0.81%
Average York County Tax Rate
0.68%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Mill, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29708 | 0.55% | 0.64% | 0.68% | 0.97% | 1.02% |
| 29715 | 0.53% | 0.64% | 0.85% | 0.96% | 2.74% |
Source: Ownwell
Property Tax Assessment Values Across Fort Mill, South Carolina
In Fort Mill, 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 York 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 Fort Mill, 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 Fort Mill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 29708 has the highest median tax bill at $2,743, while zip code 29715 has the lowest at $2,480.
Property Tax Assessment Values Across Fort Mill, South Carolina
Source: Ownwell
$27,500
$189,436
$351,372
Average Fort Mill Assessed Value
$322,743
Average York County Assessed Value
$210,005
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Mill, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29708 | $191,502 | $263,880 | $351,372 | $447,089 | $569,846 |
| 29715 | $116,538 | $183,125 | $288,484 | $405,912 | $546,225 |
Source: Ownwell
Property Tax Bills Across Fort Mill, South Carolina
In Fort Mill, York County, SC, property tax bills are calculated based on the assessed value of a home, 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, with a median home price of $322,743, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Factors such as the property's location within different ZIP codes also influence the tax bill. For example, the highest median tax bill in ZIP code 29708 is $2,743, while the lowest in ZIP code 29715 is $2,480. The tax bill can range significantly, with the 25th percentile at $1,669 and the 75th percentile at $3,880, reaching up to $5,821 at the 90th percentile. These property taxes impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, thus directly affecting community quality and property values.
Average Fort Mill Tax Bill
$2,626
Average York County Tax Bill
$1,529
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Mill, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29708 | $1,283 | $1,873 | $2,743 | $3,984 | $5,862 |
| 29715 | $838 | $1,456 | $2,480 | $3,787 | $5,766 |
Source: Ownwell