Monetta, South Carolina Property Taxes
The median property tax rate in Monetta, 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 Monetta, the typical annual property tax bill reaches $167, which is significantly lower than the national median of $2,690. Property taxes in Monetta 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 Monetta'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 Monetta 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
Monetta, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$197
Ownwell’s Monetta Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Monetta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monetta 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 Monetta, South Carolina
Property taxes in Monetta, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Monetta is 1.19%, higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Monetta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Monetta 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 Monetta's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29105 has both the highest and lowest median property tax rate of 1.19%. Understanding how these areas compare with Monetta 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 Monetta Tax Rate
1.19%
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 Monetta, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29105 | 0.33% | 0.52% | 1.19% | 1.72% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across Monetta, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Monetta, South Carolina. The market value represents 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 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 Monetta, 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 Monetta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Monetta are both $167.00, found in the zip code 29105.
Average Monetta Assessed Value
$16,560
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 Monetta, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29105 | $3,072 | $5,730 | $16,560 | $51,090 | $122,677 |
Source: Ownwell
Property Tax Bills Across Monetta, South Carolina
In Monetta, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Monetta is $16,560, and this valuation plays a crucial role in determining the annual tax bill for homeowners. The tax rate in Aiken County, where Monetta is located, is applied to this assessed value to calculate the property tax bill. Factors such as the property's location, size, and any applicable exemptions or deductions also influence the final tax amount. In Monetta, the 25th percentile tax bill is $89, while the 75th percentile reaches $385, and the 90th percentile can go as high as $853. Comparatively, the highest and lowest median tax bills are both $167 in the zip code 29105. These property taxes impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, ensuring a well-maintained community. Understanding how these taxes are calculated helps homeowners manage their finances more effectively.
Average Monetta Tax Bill
$167
Average Aiken County Tax Bill
$442
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Monetta, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29105 | $56 | $89 | $167 | $385 | $853 |
Source: Ownwell