Beech Island, South Carolina Property Taxes
The median property tax rate in Beech Island, SC is 1.00%, slightly higher than the national median of 0.99% and significantly above the South Carolina state median of 0.72%. With a median home value of $30,000 in Beech Island, the typical annual property tax bill is $231, which is considerably lower than the national median of $2,690. Property taxes in Beech Island are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Beech Island's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Beech Island or another part of Aiken County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Beech Island, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$300
$278
Ownwell’s Beech Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beech Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beech Island 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 Beech Island, South Carolina
Property taxes in Beech Island, 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 Beech Island is 0.50%, significantly lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Beech Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beech Island 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 Beech Island's effective property tax rate to other areas in South Carolina and the national median. For comparison, the zip code 29842 has the highest median property tax rate of 1.00%, while zip code 29841 has the lowest median tax rate of 0.50%. Understanding how these areas compare with Beech Island provides valuable insights into the varying tax landscape across Aiken County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beech Island Tax Rate
1.00%
Average Aiken County Tax Rate
0.59%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beech Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29841 | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
| 29842 | 0.32% | 0.47% | 1.00% | 1.51% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Beech Island, South Carolina
In Beech Island, 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 Aiken 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 Beech Island, 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 Beech Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Beech Island is $231 in the 29842 zip code, while the lowest is $152 in the 29841 zip code.
Property Tax Assessment Values Across Beech Island, South Carolina
Source: Ownwell
$3,504
$96,907
$190,310
Average Beech Island Assessed Value
$30,000
Average Aiken County Assessed Value
$71,607
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beech Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29841 | $30,644 | $30,644 | $30,644 | $30,644 | $30,644 |
| 29842 | $4,814 | $10,000 | $30,000 | $86,103 | $190,309 |
Source: Ownwell
Property Tax Bills Across Beech Island, South Carolina
In Beech Island, SC, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, if a home's market value is $30,000, its assessed value would be determined by the local assessment rate. The tax rate is then applied to this assessed value to determine the annual property tax bill. Factors such as location within Aiken County, property type, and any applicable exemptions or deductions play a crucial role in determining the final amount. Homeowners in Beech Island experience a range of property tax bills. At the 25th percentile, the tax bill is approximately $102, while at the 75th percentile, it rises to around $597. The 90th percentile sees tax bills reaching up to $1,145. The highest median tax bill in the area is $231 in zip code 29842, whereas the lowest is $152 in zip code 29841. These variations can significantly impact homeowners, influencing their monthly expenses and overall financial planning. Compared to the national median property tax rate of 0.99%, Beech Island's property taxes can be relatively modest or substantial, depending on specific circumstances.
Average Beech Island Tax Bill
$231
Average Aiken County Tax Bill
$442
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Beech Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29841 | $152 | $152 | $152 | $152 | $152 |
| 29842 | $58 | $102 | $231 | $597 | $1,145 |
Source: Ownwell