Columbia, South Carolina Property Taxes
The median property tax rate in Columbia, SC is 1.04%, slightly higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Columbia at $116,550, the typical annual property tax bill reaches $1,316, which is below the national median of $2,690. Property taxes in Columbia are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Columbia'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 Columbia 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
Columbia, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,212
Ownwell’s Columbia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Columbia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Columbia 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 Columbia, South Carolina
Property taxes in Columbia, 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 Columbia is 1.04%, higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Columbia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Columbia 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 Columbia's effective property tax rate to other areas in Richland County and the national median. For comparison, the 29201 zip code has the highest median property tax rate of 2.22%, while the 29205 zip code has the lowest median tax rate of 0.70%. Understanding how these areas compare with Columbia provides valuable insights into the varying tax landscape across Richland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Columbia Tax Rate
1.04%
Average Richland County Tax Rate
1.01%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Columbia, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29201 | 0.53% | 0.70% | 2.22% | 2.87% | 3.54% |
| 29203 | N/A | N/A | N/A | N/A | N/A |
| 29204 | N/A | N/A | N/A | N/A | N/A |
| 29205 | 0.48% | 0.67% | 0.70% | 2.79% | 2.87% |
| 29206 | 0.52% | 0.68% | 0.77% | 1.04% | 2.90% |
| 29209 | 0.45% | 0.69% | 0.86% | 2.63% | 3.22% |
| 29210 | 0.62% | 0.70% | 1.09% | 2.95% | 3.48% |
| 29212 | 0.48% | 0.70% | 0.72% | 1.22% | 3.12% |
| 29223 | 0.55% | 0.84% | 1.11% | 2.85% | 3.81% |
| 29229 | 0.33% | 0.94% | 1.06% | 1.55% | 3.63% |
Source: Ownwell
Property Tax Assessment Values Across Columbia, South Carolina
In Columbia, 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 Richland 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 Columbia, 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 Columbia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Columbia is $2,041 in the 29206 zip code, while the lowest is $967 in the 29210 zip code.
Property Tax Assessment Values Across Columbia, South Carolina
Source: Ownwell
$13,900
$136,250
$258,600
Average Columbia Assessed Value
$116,550
Average Richland County Assessed Value
$117,300
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Columbia, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29201 | $7,000 | $68,000 | $135,000 | $194,000 | $281,760 |
| 29203 | N/A | N/A | N/A | N/A | N/A |
| 29204 | N/A | N/A | N/A | N/A | N/A |
| 29205 | $46,800 | $104,700 | $185,800 | $299,900 | $437,490 |
| 29206 | $93,800 | $164,200 | $225,900 | $344,100 | $538,500 |
| 29209 | $31,700 | $71,100 | $118,600 | $170,000 | $284,100 |
| 29210 | $20,000 | $63,100 | $85,600 | $105,900 | $131,820 |
| 29212 | $77,100 | $94,000 | $132,700 | $175,500 | $224,880 |
| 29223 | $41,200 | $71,550 | $112,100 | $170,000 | $274,140 |
| 29229 | $79,100 | $110,600 | $147,200 | $189,900 | $244,100 |
Source: Ownwell
Property Tax Bills Across Columbia, South Carolina
In Columbia, located in Richland County, SC, property tax bills are calculated based on the assessed value of a home, not its market value. The assessed value is typically a percentage of the market value, determined by the local tax assessor. Various factors such as property size, location, and improvements are considered when determining this value. Homeowners in Columbia can expect a range of property tax bills. For instance, the 25th percentile tax bill is around $637, while the 75th percentile tax bill reaches $2,323. Those in the 90th percentile might see tax bills as high as $4,206. The highest median tax bill in the area is $2,041 in the 29206 zip code, whereas the lowest is $967 in the 29210 zip code. Comparing these figures to the national median property tax rate of 0.99%, Columbia's property taxes can significantly impact homeowners, making it crucial for them to understand their tax obligations and potential savings opportunities.
Average Columbia Tax Bill
$1,316
Average Richland County Tax Bill
$1,343
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Columbia, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29201 | $94 | $766 | $1,584 | $3,516 | $5,633 |
| 29203 | N/A | N/A | N/A | N/A | N/A |
| 29204 | N/A | N/A | N/A | N/A | N/A |
| 29205 | $314 | $1,025 | $1,973 | $3,514 | $5,924 |
| 29206 | $656 | $1,321 | $2,041 | $3,504 | $5,645 |
| 29209 | $201 | $634 | $1,130 | $2,046 | $3,812 |
| 29210 | $201 | $605 | $967 | $1,803 | $3,024 |
| 29212 | $368 | $839 | $1,207 | $1,861 | $3,328 |
| 29223 | $368 | $794 | $1,456 | $2,553 | $4,200 |
| 29229 | $368 | $1,134 | $1,616 | $2,414 | $4,707 |
Source: Ownwell