Georgetown, South Carolina Property Taxes
The median property tax rate in Georgetown, SC is 0.96%, slightly lower than the national median of 0.99% but higher than the South Carolina state median of 0.72%. With a median home value of $76,100 in Georgetown, the typical annual property tax bill is $673, well below the national median of $2,690. Property taxes in Georgetown are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Georgetown'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 Georgetown or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Georgetown, 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 Georgetown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Georgetown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Georgetown 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 Georgetown, South Carolina
Property taxes in Georgetown, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Georgetown is 0.96%, slightly lower than the U.S. national median of 0.99%. Local government entities within Georgetown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Georgetown 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 Georgetown's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29554 zip code has the highest median property tax rate of 1.93%, while the 29510 zip code has the lowest median tax rate of 0.45%. Understanding how these cities compare with Georgetown provides valuable insights into the varying tax landscape across Georgetown County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Georgetown Tax Rate
0.96%
Average Georgetown County Tax Rate
0.91%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Georgetown, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29440 | 0.46% | 0.62% | 0.96% | 1.92% | 2.29% |
| 29510 | 0.45% | 0.45% | 0.45% | 0.45% | 0.45% |
| 29554 | 0.44% | 1.00% | 1.93% | 2.11% | 2.22% |
| 29585 | 1.59% | 1.61% | 1.65% | 1.69% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Georgetown, South Carolina
In Georgetown, 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 Georgetown 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 Georgetown, 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, the median home price in Georgetown is $76,100, with tax bills ranging significantly. The highest median tax bill is $673 in zip code 29440, while the lowest median tax bill is $144 in zip code 29554. 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 Georgetown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Georgetown, South Carolina
Source: Ownwell
$13,100
$503,400
$993,700
Average Georgetown Assessed Value
$76,100
Average Georgetown County Assessed Value
$155,000
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Georgetown, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29440 | $6,100 | $17,700 | $76,150 | $163,900 | $310,830 |
| 29510 | $10,158 | $23,294 | $45,188 | $67,082 | $80,218 |
| 29554 | $7,660 | $9,700 | $13,100 | $20,062 | $24,240 |
| 29585 | $4,300 | $6,300 | $33,400 | $75,200 | $109,850 |
Source: Ownwell
Property Tax Bills Across Georgetown, South Carolina
In Georgetown, SC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is typically a percentage of the market value of the property. For example, with a median home price of $76,100, the tax bill can vary significantly depending on the specific assessed value and applicable tax rates. The median property tax rate in Georgetown is notably lower than the national median of 0.99%, resulting in generally lower tax bills for homeowners. Factors such as property location, improvements, and exemptions also play a crucial role in determining the final tax bill. For instance, tax bills in Georgetown can range from $196 at the 25th percentile to $3,220 at the 90th percentile. The highest median tax bill in the region is $673 in the 29440 zip code, while the lowest is $144 in the 29554 zip code. These variations highlight the importance of understanding local property tax regulations and assessments, which can significantly impact homeowners' financial responsibilities.
Average Georgetown Tax Bill
$673
Average Georgetown County Tax Bill
$1,240
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Georgetown, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29440 | $88 | $197 | $673 | $1,498 | $3,221 |
| 29510 | $398 | $398 | $398 | $398 | $398 |
| 29554 | $43 | $81 | $144 | $198 | $231 |
| 29585 | $70 | $100 | $578 | $1,288 | $1,838 |
Source: Ownwell