Fingerville, South Carolina Property Taxes
The median property tax rate in Fingerville, SC is 1.56%, considerably higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Fingerville, the typical annual property tax bill reaches $688, which is significantly lower than the national median of $2,690. Property taxes in Fingerville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fingerville'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 Fingerville 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
Fingerville, 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 Fingerville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fingerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fingerville 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 Fingerville, South Carolina
Property taxes in Fingerville, 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 Fingerville is 0.56%, significantly lower than both the South Carolina state median of 0.56% and the U.S. national median of 0.99%. Local government entities within Fingerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fingerville 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 Fingerville's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29338 has the highest median property tax rate of 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these areas compare with Fingerville provides valuable insights into the varying tax landscape across Spartanburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fingerville Tax Rate
1.56%
Average Spartanburg County Tax Rate
0.63%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fingerville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29338 | 0.52% | 0.89% | 1.56% | 1.86% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Fingerville, South Carolina
In Fingerville, 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 Spartanburg 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. 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 Fingerville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Fingerville are both $688.00, found in zip code 29338.
Property Tax Assessment Values Across Fingerville, South Carolina
Source: Ownwell
$9,200
$124,850
$240,500
Average Fingerville Assessed Value
$48,650
Average Spartanburg County Assessed Value
$171,600
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fingerville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29338 | $12,280 | $37,225 | $48,650 | $67,650 | $81,890 |
Source: Ownwell
Property Tax Bills Across Fingerville, South Carolina
Property tax bills in Fingerville, Spartanburg County, SC, are determined based on the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. This value is then multiplied by the local tax rate to calculate the annual tax bill. Fingerville's property tax rate is relatively low compared to the national median property tax rate of 0.99%. For instance, with a median home price of $48,650, homeowners in Fingerville can expect to pay between $353 and $970 annually, depending on the assessed value and any applicable exemptions. The highest median tax bill in the area is $688, which is modest compared to other regions. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Therefore, understanding how property taxes are calculated can help homeowners better manage their expenses and plan for the future.
Average Fingerville Tax Bill
$688
Average Spartanburg County Tax Bill
$1,309
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Fingerville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29338 | $150 | $353 | $688 | $970 | $1,322 |
Source: Ownwell