Tillman, South Carolina Property Taxes
The median property tax rate in Tillman, SC is 0.61%, considerably lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Tillman, the typical annual property tax bill reaches $299, significantly below the national median of $2,690. Property taxes in Tillman 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 Tillman'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 Tillman or another part of Jasper County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tillman, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$188
Ownwell’s Tillman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tillman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tillman 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 Tillman, South Carolina
Property taxes in Tillman, 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 Tillman is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Tillman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tillman 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 Tillman's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29943 has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with Tillman provides valuable insights into the varying tax landscape across Jasper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tillman Tax Rate
0.61%
Average Jasper County Tax Rate
0.79%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tillman, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29943 | 0.31% | 0.55% | 0.61% | 1.90% | 1.95% |
| 29945 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Tillman, South Carolina
In Tillman, 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 Jasper 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 Tillman, 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 29943 zip code see a median tax bill of $299. 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 Tillman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tillman Assessed Value
$30,750
Average Jasper County Assessed Value
$92,100
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tillman, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29943 | $2,300 | $7,000 | $31,600 | $98,300 | $169,540 |
| 29945 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Tillman, South Carolina
In Tillman, located in Jasper County, SC, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate, or millage rate, is then applied to this assessed value to determine the tax bill. Several factors influence the final tax amount, including the property's location, size, and any applicable exemptions. For homeowners in Tillman, the median home price is $30,750. Property tax bills vary significantly, with the 25th percentile at $61, the 75th percentile at $813, and the 90th percentile reaching $1,425. The highest and lowest median tax bills are both $299, indicating a relatively uniform tax rate across different properties. Compared to the national median property tax rate of 0.99%, Tillman's property taxes can be quite variable, potentially impacting homeowners' budgets considerably. Understanding these factors can help homeowners anticipate their tax liabilities and plan accordingly.
Average Tillman Tax Bill
$299
Average Jasper County Tax Bill
$815
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Tillman, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29943 | $29 | $61 | $299 | $813 | $1,425 |
| 29945 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell