Rains, South Carolina Property Taxes
The median property tax rate in Rains, South Carolina is 1.25%, significantly higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Rains, the typical annual property tax bill reaches $72, which is much lower than the national median of $2,690. Property taxes in Rains are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rains' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Rains 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
Rains, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$159
Ownwell’s Rains Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rains with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rains 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 Rains, South Carolina
Property taxes in Rains, 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 Rains is 0.85%, lower than both the South Carolina state median of 0.88% and the U.S. national median of 0.99%. Local government entities within Rains set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rains 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 Rains's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29589 zip code has the highest median property tax rate of 0.85%, while the same 29589 zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Rains provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rains Tax Rate
1.25%
Average Marion County Tax Rate
1.68%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rains, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29589 | 0.53% | 0.80% | 1.25% | 1.70% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Rains, South Carolina
In Rains, 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 Marion 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 Rains, 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. For example, in Rains, the 25th percentile tax bill is $68, while the 75th percentile tax bill is $76. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rains Assessed Value
$12,750
Average Marion County Assessed Value
$10,000
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rains, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29589 | $4,950 | $7,875 | $12,750 | $17,625 | $20,550 |
Source: Ownwell
Property Tax Bills Across Rains, South Carolina
In Rains, located in Marion County, SC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the market value of the property. For instance, if the median home price is $12,750, the assessed value will be a percentage of this amount. The local tax rate is then applied to the assessed value to determine the annual tax bill. Several factors influence the assessed value, including property size, location, and any improvements made to the home. The tax bill can vary significantly within the city. For example, homeowners at the 25th percentile pay around $68 annually, while those at the 75th percentile pay approximately $76. At the 90th percentile, the tax bill reaches about $78. Compared to the national median property tax rate of 0.99%, Rains offers a relatively low property tax burden, which can be advantageous for homeowners, making it a more affordable place to live.
Average Rains Tax Bill
$72
Average Marion County Tax Bill
$142
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Rains, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29589 | $66 | $68 | $72 | $76 | $78 |
Source: Ownwell