Ruby, South Carolina Property Taxes
The median property tax rate in Ruby, SC is 0.41%, significantly lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Ruby, the typical annual property tax bill is $21, far below the national median of $2,690. Property taxes in Ruby are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ruby’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 Ruby or another part of Chesterfield County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ruby, 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 Ruby Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Ruby, Chesterfield County with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Ruby to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities with ease. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Ruby, South Carolina
Property taxes in Ruby, South Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Ruby is 0.41%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Ruby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ruby 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 Ruby's effective property tax rate to other areas within Chesterfield County and the national median. For comparison, the zip code 29741 has the highest median property tax rate of 0.41%, while the same zip code also has the lowest median tax rate of 0.41%. Understanding how these figures compare with Ruby provides valuable insights into the varying tax landscape across Chesterfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ruby Tax Rate
0.41%
Average Chesterfield County Tax Rate
0.41%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ruby, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29741 | 0.15% | 0.34% | 0.41% | 0.41% | 0.42% |
Source: Ownwell
Property Tax Assessment Values Across Ruby, South Carolina
In Ruby, 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 Chesterfield 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 Ruby, 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. For instance, homeowners in the 29741 zip code may see tax bills as low as $18, while those in higher-value areas could see bills up to $82. 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 Ruby helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ruby Assessed Value
$5,000
Average Chesterfield County Assessed Value
$6,000
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ruby, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29741 | $3,440 | $5,000 | $5,000 | $11,850 | $38,420 |
Source: Ownwell
Property Tax Bills Across Ruby, South Carolina
In Ruby, Chesterfield, SC, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. Homeowners in Ruby experience property tax bills that vary significantly depending on the value of their property. For instance, at the 25th percentile, the tax bill is around $18, while at the 75th percentile, it rises to $38. For properties in the 90th percentile, the tax bill can reach up to $82. Several factors influence these amounts, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Ruby's property tax rates are relatively modest, which can be a relief for homeowners. However, even within this small town, the variation in tax bills highlights the importance of understanding how local assessments and rates impact individual financial obligations. Homeowners should be aware of these factors to better manage their annual property tax expenses.
Average Ruby Tax Bill
$21
Average Chesterfield County Tax Bill
$26
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Ruby, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29741 | $10 | $18 | $21 | $38 | $82 |
Source: Ownwell