Little Mountain, South Carolina Property Taxes
The median property tax rate in Little Mountain, SC is 0.61%, significantly lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With a median home value of $80,732 in Little Mountain, the typical annual property tax bill is around $839, well below the national median of $2,690. Property taxes in Little Mountain are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Little Mountain's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Little Mountain or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Little Mountain, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$492
Ownwell’s Little Mountain Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Little Mountain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Little Mountain 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 Little Mountain, South Carolina
Property taxes in Little Mountain, 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 Little Mountain is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Little Mountain set these rates annually, and they can vary significantly across different neighborhoods. Each year, Little Mountain 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 Little Mountain's effective property tax rate to other areas in Lexington County and the national median. For comparison, the zip code 29075 has both the highest and lowest median property tax rate of 0.61%. Understanding how these areas compare with Little Mountain 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 Little Mountain 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 Little Mountain, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29075 | 0.32% | 0.60% | 0.61% | 2.58% | 2.59% |
Source: Ownwell
Property Tax Assessment Values Across Little Mountain, South Carolina
In Little Mountain, 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. In Little Mountain, 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 Little Mountain helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 29075, with a median tax bill of $839.
Property Tax Assessment Values Across Little Mountain, South Carolina
Source: Ownwell
$24,100
$146,458
$268,816
Average Little Mountain Assessed Value
$80,732
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 Little Mountain, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29075 | $16,505 | $39,630 | $80,732 | $200,430 | $337,786 |
Source: Ownwell
Property Tax Bills Across Little Mountain, South Carolina
In Little Mountain, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $80,732, the tax bill can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $395, while those in the 75th percentile might see a bill closer to $1,398. The highest tax bills, around the 90th percentile, can reach up to $2,015. Factors influencing the tax bill include the assessed value of the property, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Little Mountain's property taxes can be considered relatively moderate. These tax bills have a direct impact on homeowners, influencing their overall cost of living and potentially affecting the affordability of owning property in the area. Understanding these factors can help homeowners better anticipate their annual financial obligations.
Average Little Mountain Tax Bill
$839
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 Little Mountain, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29075 | $179 | $395 | $839 | $1,398 | $2,015 |
Source: Ownwell