Cross Hill, South Carolina Property Taxes
The median property tax rate in Cross Hill, SC is 0.74%, slightly higher than the state median of 0.72% but lower than the national median of 0.99%. With a median home value of $388,300 in Cross Hill, the typical annual property tax bill reaches $2,758, just under the national median of $2,690. Property taxes in Cross Hill are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Cross Hill'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 Cross Hill or another part of Newberry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cross Hill, 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 CROSS HILL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CROSS HILL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CROSS HILL 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 Cross Hill, South Carolina
Property taxes in Cross Hill, 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 Cross Hill is 0.55%, which is lower than both the South Carolina state median of 0.56% and the U.S. national median of 0.99%. Local government entities within Cross Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cross Hill 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 Cross Hill's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29037 zip code has the highest median property tax rate of 0.55%, while the 29037 zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Cross Hill provides valuable insights into the varying tax landscape across Laurens County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cross Hill Tax Rate
0.74%
Average Newberry County Tax Rate
0.76%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cross Hill, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29332 | 0.60% | 0.64% | 0.74% | 0.74% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across Cross Hill, South Carolina
In Cross Hill, 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 Newberry County Assessor 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 Cross Hill, 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 Cross Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Cross Hill is $2,758 in ZIP code 29332, while the lowest is also $2,758 in the same ZIP code.
Property Tax Assessment Values Across Cross Hill, South Carolina
Source: Ownwell
$33,700
$211,000
$388,300
Average Cross Hill Assessed Value
$388,300
Average Newberry County Assessed Value
$69,300
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cross Hill, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29332 | $249,460 | $323,200 | $388,300 | $467,500 | $558,000 |
Source: Ownwell
Property Tax Bills Across Cross Hill, South Carolina
In Cross Hill, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. The median home price in Cross Hill is $388,300, which can give homeowners an idea of their potential tax burden. Several factors influence the final tax bill, including property location, size, and improvements. In Newberry County, the tax bill at the 25th percentile is $2,113, while at the 75th percentile, it rises to $3,696. The tax bill at the 90th percentile can be as high as $5,550. These figures show a range of possible tax obligations, highlighting the importance of understanding one's property assessment and local tax rates. Compared to the national median property tax rate of 0.99%, homeowners in Cross Hill may experience varying levels of tax pressure based on their specific property assessments and applicable rates.
Average Cross Hill Tax Bill
$2,758
Average Newberry County Tax Bill
$768
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Cross Hill, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29332 | $1,552 | $2,113 | $2,758 | $3,696 | $5,550 |
Source: Ownwell