Williamston, South Carolina Property Taxes
The median property tax rate in Williamston, SC is 1.06%, which is higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Williamston being $7,900, the typical annual property tax bill amounts to $84, which is significantly lower than the national median of $2,690. Property taxes in Williamston are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Williamston'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 Williamston 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
Williamston, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$84
Ownwell’s Williamston Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Williamston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Williamston 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 Williamston, South Carolina
Property taxes in Williamston, South Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Williamston is 0.67%, which is lower than the South Carolina state median of 0.76% and the U.S. national median of 0.99%. Local government entities within Williamston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Williamston 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 Williamston's effective property tax rate to other counties in South Carolina and the national median. For comparison, the highest median property tax rate in the county is 0.76%, while the lowest median tax rate is 0.67%. Understanding how these cities compare with Williamston provides valuable insights into the varying tax landscape across Anderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Williamston Tax Rate
1.06%
Average Horry County Tax Rate
0.81%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Williamston, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Williamston, South Carolina
In Williamston, 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 Horry County Assessor's Office 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 Williamston, 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 Williamston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Williamston, South Carolina
Source: Ownwell
$5,650
$209,880
$414,110
Average Williamston Assessed Value
$7,900
Average Horry County Assessed Value
$160,000
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Williamston, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Williamston, South Carolina
In Williamston, SC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value, and in South Carolina, this rate is typically 4% for owner-occupied residences. The tax rate, or millage rate, is then applied to the assessed value to calculate the tax bill. For example, with a median home price of $7,900 in Williamston, the assessed value would be $316. The millage rate, which varies by county and city, is then used to determine the final tax bill. In Horry County, where Williamston is located, the tax bills are relatively low, with the 25th, 75th, and 90th percentiles all at $84. These low property taxes can significantly affect homeowners by reducing the overall cost of homeownership, making it more affordable compared to the national median property tax rate of 0.99%. This affordability can be a crucial factor for potential homebuyers considering moving to Williamston.
Average Williamston Tax Bill
$84
Average Horry County Tax Bill
$1,084
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Williamston, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell