Port Royal, South Carolina Property Taxes
The median property tax rate in Port Royal, SC is 1.31%, considerably higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Port Royal at $153,800, the typical annual property tax bill reaches $1,671, exceeding the national median of $2,690. Property taxes in Port Royal 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 Port Royal'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 Port Royal 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
Port Royal, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,015
Ownwell’s PORT ROYAL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PORT ROYAL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PORT ROYAL 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 Port Royal, South Carolina
Property taxes in Port Royal, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Port Royal is 1.31%, higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Port Royal set these rates annually, and they can vary significantly across different neighborhoods. Each year, Port Royal 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 Port Royal's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29935 zip code has the highest median property tax rate of 1.31%, while the same zip code also has the lowest median tax rate of 1.31%. Understanding how these cities compare with Port Royal 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 Port Royal Tax Rate
1.31%
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 Port Royal, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29935 | 0.49% | 0.72% | 1.31% | 1.89% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Port Royal, South Carolina
In Port Royal, 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 Beaufort 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. In Port Royal, 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 Port Royal helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1671, found in zip code 29935.
Property Tax Assessment Values Across Port Royal, South Carolina
Source: Ownwell
$24,200
$838,625
$1,653,050
Average Port Royal Assessed Value
$153,800
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 Port Royal, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29935 | $43,100 | $99,000 | $153,800 | $233,100 | $332,000 |
Source: Ownwell
Property Tax Bills Across Port Royal, South Carolina
In Port Royal, located in Beaufort County, SC, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Port Royal is $153,800. Homeowners in this area typically see a range of tax bills, with the 25th percentile paying around $837 and the 75th percentile facing bills up to $2,801. For those at the 90th percentile, tax bills can reach as high as $4,526. These tax bills are influenced by several factors, including the assessed value of the property, local tax rates, and any applicable exemptions. The highest and lowest median tax bills in the area both stand at $1,671, indicating a relatively uniform tax rate across different properties. Compared to the national median property tax rate of 0.99%, Port Royal's tax rates can significantly impact homeowners, depending on the assessed value and specific circumstances of their property. This structure ensures that property taxes are proportional to the value of the home, affecting homeowners' annual financial planning.
Average Port Royal Tax Bill
$1,671
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 Port Royal, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29935 | $248 | $837 | $1,671 | $2,801 | $4,526 |
Source: Ownwell