Reidville, South Carolina Property Taxes
The median property tax rate in Reidville, SC is 1.19%, 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 Reidville, the typical annual property tax bill reaches $1,415, which is below the national median of $2,690. Property taxes in Reidville 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 Reidville'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 Reidville 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
Reidville, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$1,280
Ownwell’s Reidville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reidville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reidville 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 Reidville, South Carolina
Property taxes in Reidville, 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 Reidville is 0.56%, which is lower than both the South Carolina state median of 0.57% and the U.S. national median of 0.99%. Local government entities within Reidville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reidville 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 Reidville's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29375 zip code 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 cities compare with Reidville 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 Reidville Tax Rate
1.19%
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 Reidville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29375 | 0.39% | 0.56% | 1.19% | 2.22% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Reidville, South Carolina
In Reidville, 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. In Reidville, 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. For instance, the median home price in Reidville is $107,600, with tax bills ranging from $504 at the 25th percentile to $6,713 at the 90th percentile. The zip code 29375 has both the highest and lowest median tax bill at $1,415. 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 Reidville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Reidville, South Carolina
Source: Ownwell
$9,200
$124,850
$240,500
Average Reidville Assessed Value
$107,600
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 Reidville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29375 | $1,050 | $22,550 | $107,600 | $275,525 | $324,800 |
Source: Ownwell
Property Tax Bills Across Reidville, South Carolina
In Reidville, located in Spartanburg County, SC, property tax bills are primarily determined by the assessed value of a home, which is a percentage of its market value. With a median home price of $107,600, local tax authorities calculate the assessed value and apply the relevant tax rate to determine the annual tax bill. Various factors, such as property improvements and neighborhood valuations, influence this assessed value. Homeowners in Reidville experience a range of tax bills. For instance, those in the 25th percentile pay around $504 annually, while those in the 75th percentile see bills closer to $4,711. At the 90th percentile, tax bills can reach up to $6,713. These figures highlight the variability in property taxes, which can significantly impact household budgets. Comparatively, the national median property tax rate stands at 0.99%, making it essential for Reidville homeowners to understand their local rates and assessments to manage their finances effectively.
Average Reidville Tax Bill
$1,415
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 Reidville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29375 | $178 | $504 | $1,415 | $4,711 | $6,713 |
Source: Ownwell