Martin, South Carolina Property Taxes
The median property tax rate in Martin, SC is 2.74%, 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 Martin, the typical annual property tax bill reaches $173, which is well below the national median of $2,690. Property taxes in Martin 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 Martin'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 Martin 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
Martin, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.74%
Estimate Property Tax Bill
$293
$272
Ownwell’s Martin Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Martin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Martin to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and plan accordingly. For those interested in more granular data, trends at the neighborhood level are also available. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Martin, South Carolina
Property taxes in Martin, South Carolina, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Martin is 2.74%, significantly higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Martin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Martin 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 Martin's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29836 zip code has the highest median property tax rate of 2.74%, while the same zip code also has the lowest median tax rate of 2.74%. Understanding how these cities compare with Martin 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 Martin Tax Rate
2.74%
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 Martin, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29836 | 0.73% | 0.82% | 2.74% | 2.90% | 4.18% |
Source: Ownwell
Property Tax Assessment Values Across Martin, South Carolina
In Martin, 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 Martin, 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. Martin's property tax bills vary, with the highest median tax bill being $173 in the 29836 zip code. Being aware of these valuation processes in Martin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Martin Assessed Value
$10,700
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 Martin, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29836 | $1,800 | $3,500 | $10,700 | $27,100 | $49,280 |
Source: Ownwell
Property Tax Bills Across Martin, South Carolina
In Martin, located in Allendale County, SC, property tax bills are calculated based on the assessed value of the property. The assessed value is typically a percentage of the market value, which is determined by the county assessor. Various factors such as the size of the property, location, and any improvements made can influence this assessed value. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. In Martin, the median home price is $10,700, and the tax bills can vary significantly. For instance, the 25th percentile tax bill is $53, while the 75th percentile tax bill is $551. At the 90th percentile, homeowners could see tax bills as high as $1,336. These property taxes are crucial for funding local services such as schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, homeowners in Martin experience relatively lower property tax bills, potentially easing the financial burden on residents.
Average Martin Tax Bill
$173
Average Allendale County Tax Bill
$221
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Martin, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29836 | $25 | $53 | $173 | $551 | $1,336 |
Source: Ownwell