Springfield, South Carolina Property Taxes
The median property tax rate in Springfield, SC is 1.00%, slightly higher than the national median of 0.99% and significantly above the South Carolina state median of 0.72%. With the median home value in Springfield, the typical annual property tax bill amounts to $385, well below the national median of $2,690. Property taxes in Springfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Springfield'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 Springfield or another part of Orangeburg County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Springfield, 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 Springfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Springfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Springfield 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 Springfield, South Carolina
Property taxes in Springfield, 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 Springfield is 1.00%, slightly above the U.S. national median of 0.99%. Local government entities within Springfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Springfield 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 Springfield's effective property tax rate to other areas in South Carolina and the national median. For comparison, the 29146 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these areas compare with Springfield provides valuable insights into the varying tax landscape across Orangeburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Springfield Tax Rate
1.00%
Average Orangeburg County Tax Rate
0.81%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Springfield, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29146 | 0.33% | 0.75% | 1.00% | 2.46% | 2.80% |
Source: Ownwell
Property Tax Assessment Values Across Springfield, South Carolina
In Springfield, 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 Orangeburg County Assessor's Office 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 Springfield, 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 instance, the zip code 29146 has the highest median tax bill at $385, while the lowest also sits at $385. Being aware of these valuation processes in Springfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Springfield, South Carolina
Source: Ownwell
$22,130
$128,775
$235,420
Average Springfield Assessed Value
$25,600
Average Orangeburg County Assessed Value
$41,835
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Springfield, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29146 | $2,600 | $5,902 | $25,600 | $68,158 | $132,581 |
Source: Ownwell
Property Tax Bills Across Springfield, South Carolina
In Springfield, Orangeburg County, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is typically a percentage of the market value, which is determined by the county assessor. Once the assessed value is established, it is multiplied by the local tax rate to determine your tax bill. Homeowners in Springfield can expect a range of tax bills depending on their property's value. For instance, the 25th percentile tax bill is around $141, while the 75th percentile reaches up to $929. The 90th percentile tax bill can go as high as $1,406. The highest median tax bill in the area is $385, which is notably lower than the national median property tax rate of 0.99%. These property taxes fund local services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Lower tax bills can be beneficial for homeowners, making home ownership more affordable in Springfield.
Average Springfield Tax Bill
$385
Average Orangeburg County Tax Bill
$620
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Springfield, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29146 | $78 | $141 | $385 | $929 | $1,406 |
Source: Ownwell