Sellers, South Carolina Property Taxes
The median property tax rate in Sellers, South Carolina is 1.78%, considerably higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Sellers, the typical annual property tax bill reaches $143, which is significantly lower than the national median of $2,690. Property taxes in Sellers 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 Sellers' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Sellers or another part of Marion County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sellers, 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 Sellers Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sellers with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sellers 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 Sellers, South Carolina
Property taxes in Sellers, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sellers is 1.78%, significantly higher than the U.S. national median of 0.99%. Local government entities within Sellers set these rates annually, and they can vary across different neighborhoods. Each year, Sellers 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 Sellers' effective property tax rate to other areas in South Carolina and the national median. For comparison, the 29592 zip code has both the highest and lowest median property tax rate of 1.78%. Understanding how these areas compare with Sellers 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 Sellers Tax Rate
1.78%
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 Sellers, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29592 | 0.35% | 0.90% | 1.78% | 2.95% | 3.48% |
Source: Ownwell
Property Tax Assessment Values Across Sellers, South Carolina
In Sellers, 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 Sellers, 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, the highest median tax bill in Sellers is $143 in the 29592 zip code, while the lowest median tax bill is also $143 in the same zip code. 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 Sellers helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sellers Assessed Value
$9,000
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 Sellers, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29592 | $3,000 | $5,000 | $9,000 | $20,000 | $35,505 |
Source: Ownwell
Property Tax Bills Across Sellers, South Carolina
In Sellers, located in Marion County, SC, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The tax rate is applied to this assessed value to determine the annual property tax bill. Factors influencing the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions or deductions. Homeowners in Sellers experience a range of property tax bills. For instance, the 25th percentile tax bill is around $95, while the 75th percentile reaches $218. At the higher end, the 90th percentile tax bill rises to $424. These figures reflect how property taxes can vary significantly within the community. Compared to the national median property tax rate of 0.99%, Sellers offers relatively lower tax burdens, making it an attractive location for homeowners seeking affordability. Understanding these factors can help homeowners better anticipate their annual property tax obligations and manage their finances accordingly.
Average Sellers Tax Bill
$143
Average Marion County Tax Bill
$142
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Sellers, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29592 | $50 | $95 | $143 | $218 | $424 |
Source: Ownwell