Ridgeway, South Carolina Property Taxes
The median property tax rate in Ridgeway, SC is 0.97%, slightly below the national median of 0.99% but significantly higher than the South Carolina state median of 0.72%. With the median home value in Ridgeway at $210,600, the typical annual property tax bill amounts to $1,870, which is lower than the national median of $2,690. Property taxes in Ridgeway 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 Ridgeway'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 Ridgeway 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
Ridgeway, 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 Ridgeway Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ridgeway with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ridgeway 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 Ridgeway, South Carolina
Property taxes in Ridgeway, 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 Ridgeway is 0.97%, which is slightly below the U.S. national median of 0.99%. Local government entities within Ridgeway set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ridgeway 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 Ridgeway's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29130 zip code has the highest median property tax rate of 0.97%, while the 29130 zip code also has the lowest median tax rate of 0.97%. Understanding how these cities compare with Ridgeway 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 Ridgeway Tax Rate
0.97%
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 Ridgeway, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29130 | 0.15% | 0.67% | 0.97% | 1.38% | 3.31% |
Source: Ownwell
Property Tax Assessment Values Across Ridgeway, South Carolina
In Ridgeway, 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'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 Ridgeway, 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 Ridgeway helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 29130, with a median tax bill of $1,870.
Property Tax Assessment Values Across Ridgeway, South Carolina
Source: Ownwell
$13,900
$136,250
$258,600
Average Ridgeway Assessed Value
$210,600
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 Ridgeway, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29130 | $19,820 | $70,950 | $210,600 | $302,250 | $395,200 |
Source: Ownwell
Property Tax Bills Across Ridgeway, South Carolina
In Ridgeway, located in Richland County, SC, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Ridgeway is $210,600. The assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as property improvements, neighborhood developments, and changes in the housing market can influence the assessed value. For homeowners in Ridgeway, the property tax bill can vary significantly. At the 25th percentile, the tax bill is $947, while at the 75th percentile, it rises to $2731. For those in the 90th percentile, it can go up to $4148. These variations highlight the impact of property assessments on tax bills. Compared to the national median property tax rate of 0.99%, Ridgeway's residents experience a range of tax burdens depending on their property's assessed value. This system ensures that property taxes are proportionate to the value of the property owned, affecting homeowners differently based on their individual property assessments.
Average Ridgeway Tax Bill
$1,870
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 Ridgeway, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29130 | $368 | $947 | $1,870 | $2,731 | $4,148 |
Source: Ownwell