Winnsboro, South Carolina Property Taxes
The median property tax rate in Winnsboro, SC is 1.06%, which is higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Winnsboro at $48,450, the typical annual property tax bill amounts to $830, surpassing the national median of $2,690. Property taxes in Winnsboro are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Winnsboro'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 Winnsboro 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
Winnsboro, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$514
Ownwell’s Winnsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winnsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winnsboro 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 Winnsboro, South Carolina
Property taxes in Winnsboro, South Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Winnsboro is 0.56%, higher than the South Carolina state median of 0.5% but significantly lower than the U.S. national median of 0.99%. Local government entities within Winnsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winnsboro 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 Winnsboro's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29180 zip code has the highest median property tax rate of 0.56%, while the lowest median tax rate is also 0.56% in the same zip code. Understanding how these cities compare with Winnsboro provides valuable insights into the varying tax landscape across Fairfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Winnsboro Tax Rate
1.06%
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 Winnsboro, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29180 | 0.24% | 0.64% | 1.06% | 2.68% | 3.56% |
Source: Ownwell
Property Tax Assessment Values Across Winnsboro, South Carolina
In Winnsboro, 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 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 Winnsboro, 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 Winnsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 29180 in Richland County has a median tax bill of $830.
Property Tax Assessment Values Across Winnsboro, South Carolina
Source: Ownwell
$13,900
$136,250
$258,600
Average Winnsboro Assessed Value
$48,450
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 Winnsboro, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29180 | $5,830 | $22,100 | $48,450 | $171,575 | $460,800 |
Source: Ownwell
Property Tax Bills Across Winnsboro, South Carolina
In Winnsboro, South Carolina, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Winnsboro, several factors come into play, including the property's location within Richland County and any applicable exemptions or deductions. The median home price in Winnsboro is $48,450, which serves as a baseline for tax calculations. Homeowners can expect their tax bills to vary significantly; for instance, the 25th percentile tax bill is $368, while those in the 75th percentile face bills around $1,390. At the higher end, the 90th percentile tax bill reaches $2,496. Comparatively, Winnsboro's median tax bill of $830 is below the national median property tax rate of 0.99%, which can provide some relief for homeowners. However, understanding these variables is crucial for homeowners to anticipate their financial obligations accurately.
Average Winnsboro Tax Bill
$830
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 Winnsboro, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29180 | $63 | $368 | $830 | $1,390 | $2,496 |
Source: Ownwell