Columbia, South Carolina Property Taxes
The median property tax rate in Columbia, SC is 0.61%, 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 Columbia, the typical annual property tax bill is $1,075, well below the national median of $2,690. Property taxes in Columbia 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 Columbia'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 Columbia 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
Columbia, 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 Columbia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Columbia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Columbia 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 Columbia, South Carolina
Property taxes in Columbia, 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 Columbia is 0.61%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Columbia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Columbia 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 Columbia's effective property tax rate to other areas in Lexington County and the national median. For comparison, the 29210 zip code has the highest median property tax rate of 0.61%, while the 29212 zip code has the lowest median tax rate of 0.61%. Understanding how these areas compare with Columbia provides valuable insights into the varying tax landscape across Lexington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Columbia Tax Rate
0.61%
Average Lexington County Tax Rate
0.57%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Columbia, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29210 | 0.34% | 0.41% | 0.61% | 0.61% | 2.60% |
| 29212 | 0.37% | 0.54% | 0.61% | 0.61% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across Columbia, South Carolina
In Columbia, 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 Lexington 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. 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 Columbia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill is $1,160 in the 29212 zip code, while the lowest median tax bill is $916 in the 29210 zip code.
Property Tax Assessment Values Across Columbia, South Carolina
Source: Ownwell
$24,100
$146,458
$268,816
Average Columbia Assessed Value
$162,000
Average Lexington County Assessed Value
$147,464
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Columbia, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29210 | $84,466 | $128,513 | $150,000 | $174,994 | $202,428 |
| 29212 | $103,124 | $132,000 | $173,263 | $234,047 | $332,004 |
Source: Ownwell
Property Tax Bills Across Columbia, South Carolina
In Columbia, located in Lexington County, SC, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. Homeowners in Columbia can expect their tax bills to vary significantly, influenced by factors such as property location, size, and market conditions. For instance, the median home price in Columbia is $162,000. Property tax bills in the area range widely, with the 25th percentile at $751, the 75th percentile at $1,734, and the 90th percentile reaching up to $3,476. The highest median tax bill is found in the 29212 zip code at $1,160, while the lowest median tax bill is in the 29210 zip code at $916. These tax bills impact homeowners by contributing to the overall cost of owning property, influencing affordability and potentially affecting decisions related to buying or selling homes within the area. Compared to the national median property tax rate of 0.99%, Columbia's property taxes can be seen as relatively moderate.
Average Columbia Tax Bill
$1,075
Average Lexington County Tax Bill
$1,039
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Columbia, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29210 | $468 | $646 | $916 | $1,252 | $3,436 |
| 29212 | $537 | $789 | $1,160 | $1,863 | $3,510 |
Source: Ownwell