Fairfax, South Carolina Property Taxes
The median property tax rate in Fairfax, SC is 0.89%, slightly lower than the national median of 0.99% but higher than the South Carolina state median of 0.72%. With the median home value in Fairfax at $20,700, the typical annual property tax bill is $228, well below the national median of $2,690. Property taxes in Fairfax 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 Fairfax'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 Fairfax 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
Fairfax, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$184
$171
Ownwell’s Fairfax Property Tax Bill Calculator offers a simple yet powerful way for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fairfax. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Fairfax to provide an accurate property tax bill estimate. This valuable tool helps you anticipate potential tax liabilities with ease. For those interested in more detailed trends at the neighborhood level, further localized information is available below. Your property’s assessed value, determined by the county, serves as the basis for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Fairfax, South Carolina
Property taxes in Fairfax, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairfax is 0.89%, which is lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Fairfax set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairfax 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 Fairfax's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29827 has both the highest and the lowest median property tax rate of 0.89%. Understanding how these cities compare with Fairfax provides valuable insights into the varying tax landscape across Allendale County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairfax Tax Rate
0.89%
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 Fairfax, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29827 | 0.44% | 0.81% | 0.89% | 2.87% | 2.91% |
Source: Ownwell
Property Tax Assessment Values Across Fairfax, South Carolina
In Fairfax, 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 Allendale 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 Fairfax, 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. The highest median tax bill in Fairfax is $228 in the zip code 29827, while the lowest median tax bill is also $228 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fairfax Assessed Value
$20,700
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 Fairfax, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29827 | $3,000 | $5,800 | $20,700 | $39,700 | $61,500 |
Source: Ownwell
Property Tax Bills Across Fairfax, South Carolina
In Fairfax, located in Allendale 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 a percentage of the property's market value. Once the assessed value is established, a tax rate, often referred to as a millage rate, is applied to calculate the annual tax bill. Homeowners in Fairfax can expect a wide range of property tax bills. For instance, the 25th percentile tax bill is around $81, while the 75th percentile tax bill reaches $526. At the higher end, the 90th percentile tax bill is approximately $915. The highest median tax bill in the area is $228, which is significantly lower than the national median property tax rate of 0.99%. These property tax bills directly impact homeowners by influencing their annual housing costs. Lower property tax bills can make homeownership more affordable, but they also reflect the local government's revenue for public services, which can vary in quality and availability.
Average Fairfax Tax Bill
$228
Average Allendale County Tax Bill
$221
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairfax, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29827 | $33 | $81 | $228 | $526 | $915 |
Source: Ownwell