Fair Play, South Carolina Property Taxes
The median property tax rate in Fair Play, SC is 0.69%, which is notably lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Fair Play at $253,550, the typical annual property tax bill amounts to $2,058, falling below the national median of $2,690. Property taxes in Fair Play are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Fair Play'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 Fair Play or another part of Anderson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fair Play, 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 Fair Play Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fair Play with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fair Play 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 Fair Play, South Carolina
Property taxes in Fair Play, 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 Fair Play is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Fair Play set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fair Play 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 Fair Play's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29643 has both the highest and lowest median property tax rate of 0.69%. Understanding how these areas compare with Fair Play provides valuable insights into the varying tax landscape across Anderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fair Play Tax Rate
0.69%
Average Anderson County Tax Rate
0.55%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fair Play, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29643 | 0.37% | 0.49% | 0.69% | 1.87% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Fair Play, South Carolina
In Fair Play, 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 Anderson 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 Fair Play, 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 Fair Play helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fair Play is $253,550, with the median tax bill being $2,058. The zip code 29643 has both the highest and lowest median tax bills at $2,058.
Property Tax Assessment Values Across Fair Play, South Carolina
Source: Ownwell
$39,580
$147,245
$254,910
Average Fair Play Assessed Value
$253,550
Average Anderson County Assessed Value
$138,430
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fair Play, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29643 | $35,706 | $118,430 | $253,550 | $401,480 | $613,712 |
Source: Ownwell
Property Tax Bills Across Fair Play, South Carolina
In Fair Play, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Anderson County, where Fair Play is located, can expect their property tax rates to reflect local government budgets and funding needs for public services such as schools and infrastructure. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For instance, the median home price in Fair Play is $253,550. Property tax bills in this area can vary widely, with the 25th percentile tax bill at $930 and the 75th percentile reaching $3,889. At the 90th percentile, homeowners might see tax bills as high as $6,719. While the national median property tax rate is 0.99%, Fair Play's rates can differ, impacting homeowners' annual financial planning. Understanding these factors helps residents anticipate their property tax obligations more accurately.
Average Fair Play Tax Bill
$2,058
Average Anderson County Tax Bill
$929
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Fair Play, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29643 | $259 | $930 | $2,058 | $3,889 | $6,719 |
Source: Ownwell