Montmorenci, South Carolina Property Taxes
The median property tax rate in Montmorenci, SC is 1.90%, significantly higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Montmorenci, the typical annual property tax bill amounts to $91, which is notably lower than the national median of $2,690. Property taxes in Montmorenci are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Montmorenci'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 Montmorenci or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montmorenci, 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 Montmorenci Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montmorenci with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montmorenci 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 Aiken County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Montmorenci, South Carolina
Property taxes in Montmorenci, 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 Montmorenci is 1.90%, significantly higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Montmorenci set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montmorenci 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 Montmorenci's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29839 zip code has the highest median property tax rate of 1.90%, while the same zip code also has the lowest median tax rate of 1.90%. Understanding how these cities compare with Montmorenci 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 Montmorenci Tax Rate
1.90%
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 Montmorenci, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29839 | 1.90% | 1.90% | 1.90% | 1.90% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Montmorenci, South Carolina
In Montmorenci, 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 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 Montmorenci, 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 Montmorenci helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Montmorenci is $4,814, with the 25th, 75th, and 90th percentile tax bills all standing at $91.
Property Tax Assessment Values Across Montmorenci, South Carolina
Source: Ownwell
$3,504
$96,907
$190,310
Average Montmorenci Assessed Value
$4,814
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 Montmorenci, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29839 | $4,814 | $4,814 | $4,814 | $4,814 | $4,814 |
Source: Ownwell
Property Tax Bills Across Montmorenci, South Carolina
In Montmorenci, located in Aiken County, SC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and represents a percentage of the property's market value. Factors that influence this assessed value include the property's location, size, and condition. The median home price in Montmorenci is $4,814, which is significantly lower than the national median. Consequently, the property tax bills in this area reflect these lower property values. For instance, the tax bill at the 25th, 75th, and 90th percentiles are all $91, showcasing a relatively consistent and low property tax burden across different property values. This low tax rate can be a financial relief for homeowners, making it easier to manage their annual budgets. However, it also means that local services funded by property taxes may receive less revenue, potentially impacting public amenities and infrastructure.
Average Montmorenci Tax Bill
$91
Average Aiken County Tax Bill
$442
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Montmorenci, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29839 | $91 | $91 | $91 | $91 | $91 |
Source: Ownwell