Early Branch, South Carolina Property Taxes
The median property tax rate in Early Branch, SC, is 0.99%, aligning with the national median of 0.99% but higher than the South Carolina state median of 0.72%. With a median home value in Early Branch of $20,600, the typical annual property tax bill amounts to $422, which is significantly lower than the national median of $2,690. Property taxes in Early Branch are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Early Branch'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 Early Branch or another part of the area, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Early Branch, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$204
Ownwell’s Early Branch Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Early Branch with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Early Branch 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 Early Branch, South Carolina
Property taxes in Early Branch, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Early Branch is 0.99%, which aligns with both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Early Branch set these rates annually, and they can vary significantly across different neighborhoods. Each year, Early Branch 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 Early Branch's effective property tax rate to other areas in Hampton County and the national median. For comparison, the zip code 29916 has both the highest and lowest median property tax rate of 0.99%. Understanding how these areas compare with Early Branch provides valuable insights into the varying tax landscape across Hampton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Early Branch Tax Rate
0.99%
Average Hampton County Tax Rate
1.01%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Early Branch, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29916 | 0.36% | 0.62% | 0.99% | 2.97% | 3.00% |
Source: Ownwell
Property Tax Assessment Values Across Early Branch, South Carolina
Understanding the difference between "market value" and "assessed value" is essential for comprehending property taxes in Early Branch, 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 Hampton 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. 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, in Early Branch, the highest median tax bill is $422 in the 29916 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Early Branch, South Carolina
Source: Ownwell
$8,500
$167,394
$326,288
Average Early Branch Assessed Value
$20,600
Average Hampton County Assessed Value
$23,800
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Early Branch, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29916 | $2,760 | $6,600 | $20,600 | $57,550 | $124,700 |
Source: Ownwell
Property Tax Bills Across Early Branch, South Carolina
In Early Branch, South Carolina, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Early Branch stands at $20,600, which is significantly lower than the national median. Property tax rates in this area are influenced by various factors, including local government budgets and public service funding needs. Homeowners in Early Branch can expect their tax bills to vary widely. For example, the tax bill at the 25th percentile is $242, while at the 75th percentile, it rises to $1,108, and at the 90th percentile, it can reach up to $1,837. The median tax bill in the highest and lowest zip codes within Hampton County is $422. These figures illustrate the range of property tax obligations homeowners may face, affecting their annual financial planning. Understanding these factors can help homeowners budget more effectively and anticipate their property tax liabilities.
Average Early Branch Tax Bill
$422
Average Hampton County Tax Bill
$543
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Early Branch, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29916 | $128 | $242 | $422 | $1,108 | $1,837 |
Source: Ownwell