Branchville, Bamberg County, South Carolina Property Taxes
The median property tax rate in Branchville, SC is 1.32%, considerably higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Branchville, the typical annual property tax bill reaches $409, which is significantly lower than the national median of $2,690. Property taxes in Branchville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Branchville'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 Branchville 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
Branchville, Bamberg County, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$579
$538
Ownwell’s Branchville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Branchville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Branchville 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 Branchville, Bamberg County, South Carolina
Property taxes in Branchville, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Branchville is 1.32%, significantly higher than the U.S. national median of 0.99%. Local government entities within Branchville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Branchville 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 Branchville's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29432 zip code has the highest median property tax rate of 1.32%, while the same zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Branchville provides valuable insights into the varying tax landscape across Bamberg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Branchville Tax Rate
1.32%
Average Bamberg County Tax Rate
1.40%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Branchville, Bamberg County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29432 | 0.21% | 0.49% | 1.32% | 1.69% | 3.89% |
Source: Ownwell
Property Tax Assessment Values Across Branchville, Bamberg County, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Branchville, South Carolina. 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 Bamberg 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 Branchville, 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 Branchville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Branchville, the median home price is $43,900, with property tax bills ranging from $128 at the 25th percentile to $1,573 at the 90th percentile. The zip code 29432 has both the highest and lowest median tax bill at $409.
Property Tax Assessment Values Across Branchville, Bamberg County, South Carolina
Source: Ownwell
$26,000
$34,950
$43,900
Average Branchville Assessed Value
$43,900
Average Bamberg County Assessed Value
$35,100
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Branchville, Bamberg County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29432 | $5,580 | $16,000 | $43,900 | $85,500 | $139,320 |
Source: Ownwell
Property Tax Bills Across Branchville, Bamberg County, South Carolina
In Branchville, property tax bills are calculated based on the assessed value of a home, which is determined by the Bamberg County Assessor. The assessed value is a percentage of the property's market value, and this percentage can vary depending on local regulations. For homeowners in Branchville, the median home price stands at $43,900. The property tax rate in this area can lead to a wide range of tax bills. At the 25th percentile, homeowners might expect a tax bill around $128, while those at the 75th percentile could see bills as high as $919. For the top 10% of property values, tax bills can reach up to $1,573. These tax rates and bills are influenced by various factors including property improvements, neighborhood developments, and changes in local tax policies. Homeowners in Branchville need to stay informed about these factors as they directly impact the amount they owe in property taxes each year. Compared to the national median property tax rate of 0.99%, Branchville's rates offer a unique perspective on property taxation.
Average Branchville Tax Bill
$409
Average Bamberg County Tax Bill
$391
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Branchville, Bamberg County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29432 | $70 | $128 | $409 | $919 | $1,573 |
Source: Ownwell