Honea Path, South Carolina Property Taxes
The median property tax rate in Honea Path, SC is 0.71%, slightly lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Honea Path at $30,500, the typical annual property tax bill is $252, significantly below the national median of $2,690. Property taxes in Honea Path 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 Honea Path'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 Honea Path 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
Honea Path, 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 Honea Path Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Honea Path with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Honea Path 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 Honea Path, South Carolina
Property taxes in Honea Path, 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 Honea Path 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 Honea Path set these rates annually, and they can vary significantly across different neighborhoods. Each year, Honea Path 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 Honea Path's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29654 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 Honea Path provides valuable insights into the varying tax landscape across Abbeville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Honea Path Tax Rate
0.71%
Average Abbeville County Tax Rate
0.76%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Honea Path, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29654 | 0.24% | 0.45% | 0.71% | 1.58% | 2.14% |
Source: Ownwell
Property Tax Assessment Values Across Honea Path, South Carolina
In Honea Path, 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 Abbeville 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 Honea Path, 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 Honea Path helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 29654 at $252, which is notably lower than the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Honea Path, South Carolina
Source: Ownwell
$17,850
$93,350
$168,850
Average Honea Path Assessed Value
$30,500
Average Abbeville County Assessed Value
$33,600
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Honea Path, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29654 | $10,000 | $15,000 | $30,500 | $102,050 | $241,250 |
Source: Ownwell
Property Tax Bills Across Honea Path, South Carolina
In Honea Path, located in Abbeville County, SC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value of the property. For instance, if the median home price in Honea Path is $30,500, the assessed value would be a fraction of this amount. The property tax rate, which in this region can vary, is then applied to the assessed value to determine the tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For homeowners in Honea Path, the tax bill can range significantly. At the 25th percentile, the tax bill is around $147, while at the 75th percentile, it rises to $518. For those at the 90th percentile, it can reach up to $1,259. These variations highlight how property taxes can impact homeowners differently, with some paying significantly more than others depending on their property's assessed value and applicable tax rate.
Average Honea Path Tax Bill
$252
Average Abbeville County Tax Bill
$277
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Honea Path, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29654 | $100 | $147 | $252 | $518 | $1,259 |
Source: Ownwell