Sheldon, South Carolina Property Taxes
The median property tax rate in Sheldon, SC is 1.56%, 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 Sheldon, the typical annual property tax bill reaches $19,689, significantly exceeding the national median of $2,690. Property taxes in Sheldon 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 Sheldon'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 Sheldon 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
Sheldon, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$25,788
Ownwell’s Sheldon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sheldon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sheldon 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 Sheldon, South Carolina
Property taxes in Sheldon, South Carolina, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Sheldon is 0.52%, significantly lower than both the South Carolina state median of 0.55% and the U.S. national median of 0.99%. Local government entities within Sheldon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sheldon 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 Sheldon's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29941 zip code has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Sheldon 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 Sheldon Tax Rate
1.56%
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 Sheldon, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29941 | 0.57% | 0.64% | 1.56% | 1.79% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Sheldon, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sheldon, South Carolina. 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 Sheldon, 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 Sheldon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Sheldon, South Carolina
Source: Ownwell
$24,200
$838,625
$1,653,050
Average Sheldon Assessed Value
$1,653,050
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 Sheldon, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29941 | $972,000 | $1,249,050 | $1,653,050 | $2,049,425 | $2,419,600 |
Source: Ownwell
Property Tax Bills Across Sheldon, South Carolina
In Sheldon, 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. This assessed value is then multiplied by the local tax rate to determine the tax bill. For instance, with a median home price of $1,653,050, homeowners in Sheldon can expect a significant tax bill. The 25th percentile tax bill is around $9,970, while those in the 75th percentile face a tax bill of approximately $30,325. At the higher end, the 90th percentile tax bill reaches $37,665. These figures indicate that property taxes can vary widely depending on the value of the property. Homeowners with properties in the highest median tax bill zip code, 29941, experience a median tax bill of $19,689. These property tax rates can significantly impact homeowners, influencing their financial planning and potentially affecting property values and market dynamics in the area.
Average Sheldon Tax Bill
$19,689
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 Sheldon, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29941 | $7,240 | $9,970 | $19,689 | $30,325 | $37,665 |
Source: Ownwell