Aiken, South Carolina Property Taxes
The median property tax rate in Aiken, SC is 1.19%, notably higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With a median home value of $122,700 in Aiken, the typical annual property tax bill amounts to $1,459, surpassing the national median of $2,690. Property taxes in Aiken are based on the assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Aiken'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 Aiken or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Aiken, 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 Aiken Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Aiken with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Aiken 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 Aiken, South Carolina
Property taxes in Aiken, 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 Aiken is 1.19%, significantly higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Aiken set these rates annually, and they can vary across different neighborhoods. Each year, Aiken 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 Aiken's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29803 zip code has the highest median property tax rate of 1.19%, while the same zip code also has the lowest median tax rate of 1.19%. Understanding how these cities compare with Aiken provides valuable insights into the varying tax landscape across Beaufort County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Aiken Tax Rate
1.19%
Average Beaufort County Tax Rate
0.82%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Aiken, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29803 | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Aiken, South Carolina
In Aiken, 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 county 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 Aiken, 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 Aiken helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 29803, with a median tax bill of $1,459.
Average Aiken Assessed Value
$122,700
Average Beaufort County Assessed Value
$278,200
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Aiken, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29803 | $122,700 | $122,700 | $122,700 | $122,700 | $122,700 |
Source: Ownwell
Property Tax Bills Across Aiken, South Carolina
Property tax bills in Aiken, located in Beaufort County, SC, are determined based on the assessed value of a property, which is a percentage of its market value. The tax rate, or millage rate, is then applied to this assessed value to calculate the annual tax bill. In Aiken, the median home price is $122,700, and homeowners can expect a median tax bill of $1,459. This figure remains consistent across the 25th, 75th, and 90th percentiles, indicating a uniform tax rate application. Factors influencing the tax bill include the property's assessed value, which can fluctuate based on market conditions and property improvements. Comparing this to the national median property tax rate of 0.99%, Aiken's tax rate reflects a relatively stable and predictable tax environment for homeowners. This stability in property tax bills helps homeowners plan their finances more effectively, providing a sense of predictability despite potential changes in property values.
Average Aiken Tax Bill
$1,459
Average Beaufort County Tax Bill
$2,400
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Aiken, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29803 | $1,459 | $1,459 | $1,459 | $1,459 | $1,459 |
Source: Ownwell