Honea Path, South Carolina Property Taxes
The median property tax rate in Honea Path, SC is 0.74%, slightly higher than the state median of 0.72% but below the national median of 0.99%. With the median home value in Honea Path at $97,740, the typical annual property tax bill is $811, which is significantly lower than the national median of $2,690. Property taxes in Honea Path are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Honea Path'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 Honea Path 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
Honea Path, 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 Honea Path Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Honea Path with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Honea Path 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 Anderson County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Honea Path, South Carolina
Property taxes in Honea Path, 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 Honea Path is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Honea Path set these rates annually, and they can vary significantly across different neighborhoods. Each year, Honea Path 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 Honea Path's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29654 has both the highest and lowest median property tax rate of 0.74%. Understanding how these areas compare with Honea Path 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 Honea Path Tax Rate
0.74%
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 Honea Path, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29654 | 0.20% | 0.41% | 0.74% | 1.84% | 2.97% |
Source: Ownwell
Property Tax Assessment Values Across Honea Path, South Carolina
In Honea Path, 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'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 Honea Path, 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 Honea Path helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 29654 has the highest and lowest median tax bill, both at $811.
Property Tax Assessment Values Across Honea Path, South Carolina
Source: Ownwell
$39,580
$147,245
$254,910
Average Honea Path Assessed Value
$97,740
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 Honea Path, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29654 | $16,201 | $41,050 | $97,740 | $172,220 | $267,110 |
Source: Ownwell
Property Tax Bills Across Honea Path, South Carolina
In Honea Path, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value of your property. Once the assessed value is established, local tax rates are applied to calculate your annual property tax bill. Several factors influence your property tax bill, including the median home price, which in Honea Path is $97,740. For homeowners, tax bills can vary significantly. For instance, the 25th percentile tax bill is $372, while the 75th percentile tax bill is $1,350. Those in the 90th percentile can expect to pay around $2,074 annually. Comparatively, the median property tax bill in Honea Path is $811, which is below the national median property tax rate of 0.99%. This lower tax rate can be beneficial for homeowners, making property ownership more affordable in Honea Path compared to other regions.
Average Honea Path Tax Bill
$811
Average Anderson County Tax Bill
$929
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Honea Path, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29654 | $121 | $372 | $811 | $1,350 | $2,074 |
Source: Ownwell