Mayesville, South Carolina Property Taxes
The median property tax rate in Mayesville, SC is 2.07%, 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 Mayesville, the typical annual property tax bill reaches $148, which is significantly lower than the national median of $2,690. Property taxes in Mayesville 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 Mayesville'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 Mayesville 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
Mayesville, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.07%
Estimate Property Tax Bill
$217
Ownwell’s Mayesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mayesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mayesville 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 Mayesville, South Carolina
Property taxes in Mayesville, 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 Mayesville is 0.57%, 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 Mayesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mayesville 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 Mayesville's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29104 zip code has both the highest and lowest median property tax rate of 0.57%. Understanding how these cities compare with Mayesville provides valuable insights into the varying tax landscape across 45085, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mayesville Tax Rate
2.07%
Average Sumter County Tax Rate
1.06%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mayesville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29104 | 0.29% | 0.68% | 2.07% | 2.11% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Mayesville, South Carolina
In Mayesville, 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 Sumter 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 Mayesville, 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 Mayesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Mayesville, South Carolina
Source: Ownwell
$5,824
$53,262
$100,700
Average Mayesville Assessed Value
$10,500
Average Sumter County Assessed Value
$37,792
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mayesville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29104 | $3,000 | $5,000 | $10,500 | $51,616 | $116,333 |
Source: Ownwell
Property Tax Bills Across Mayesville, South Carolina
In Mayesville, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in Mayesville is $10,500, and property taxes are determined by applying the local tax rate to the assessed value. Factors such as property improvements, location, and market conditions can influence the assessed value. Homeowners in Mayesville can expect varying tax bills, with the 25th percentile paying around $84 annually, while those in the 75th percentile pay approximately $474. At the higher end, the 90th percentile sees tax bills reaching up to $1,102. The highest median tax bill in the area is $148, consistent across all zip codes within Sumter County. Compared to the national median property tax rate of 0.99%, Mayesville's property tax rates can be considerably lower, providing some relief to homeowners. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Mayesville Tax Bill
$148
Average Sumter County Tax Bill
$351
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Mayesville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29104 | $53 | $84 | $148 | $474 | $1,102 |
Source: Ownwell