Barnwell, South Carolina Property Taxes
The median property tax rate in Barnwell, SC is 0.84%, slightly lower than the national median of 0.99% but higher than the South Carolina state median of 0.72%. With a median home value of $53,850 in Barnwell, the typical annual property tax bill amounts to $323, which is significantly below the national median of $2,690. Property taxes in Barnwell are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. By understanding Barnwell's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Barnwell or another part of the city, a thorough grasp of the local property tax system is essential for maximizing financial benefits.
Last Updated June 14, 2024
Barnwell, 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 Barnwell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barnwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barnwell 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 Barnwell, South Carolina
Property taxes in Barnwell, 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 Barnwell is 0.55%, which is significantly lower than both the South Carolina state median of 0.56% and the U.S. national median of 0.99%. Local government entities within Barnwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barnwell 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 Barnwell's effective property tax rate to other counties in South Carolina and the national median. For comparison, the highest median property tax rate in the region is 0.56%, while the lowest median tax rate is 0.55%. Understanding how these cities compare with Barnwell provides valuable insights into the varying tax landscape across Barnwell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barnwell Tax Rate
0.84%
Average Allendale County Tax Rate
1.10%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barnwell, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29812 | 0.38% | 0.70% | 0.84% | 0.92% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Barnwell, South Carolina
In Barnwell, 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 local 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 Barnwell, 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 Barnwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 29812 has the highest and lowest median tax bill at $323.
Average Barnwell Assessed Value
$53,850
Average Allendale County Assessed Value
$19,600
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barnwell, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29812 | $3,740 | $18,500 | $53,850 | $94,125 | $139,020 |
Source: Ownwell
Property Tax Bills Across Barnwell, South Carolina
In Barnwell, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value, which in Barnwell can vary but is typically lower than the national median home price. Once the assessed value is determined, the local tax rate is applied to calculate the tax bill. Homeowners in Barnwell experience a range of property tax bills. For instance, tax bills at the 25th percentile are around $173, while those at the 75th percentile reach up to $872. At the 90th percentile, the tax bill can be as high as $1,213. These property taxes are essential for funding local services such as schools, public safety, and infrastructure. For homeowners, understanding how these bills are calculated helps in financial planning and ensuring that they are not overpaying. The highest and lowest median tax bills in Barnwell are both $323, indicating a relatively stable property tax environment within the city.
Average Barnwell Tax Bill
$323
Average Allendale County Tax Bill
$221
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Barnwell, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29812 | $22 | $173 | $323 | $872 | $1,213 |
Source: Ownwell