Barnwell, South Carolina Property Taxes
The median property tax rate in Barnwell, SC is 0.85%, 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 Barnwell, the typical annual property tax bill reaches $421, significantly below the national median of $2,690. Property taxes in Barnwell 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 Barnwell'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 Barnwell or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Barnwell, 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 Barnwell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barnwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barnwell 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 Barnwell, South Carolina
Property taxes in Barnwell, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Barnwell is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Barnwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barnwell 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 Barnwell's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29812 has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Barnwell provides valuable insights into the varying tax landscape across Barnwell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barnwell Tax Rate
0.85%
Average Barnwell County Tax Rate
0.86%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barnwell, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29812 | 0.40% | 0.71% | 0.85% | 2.47% | 2.68% |
Source: Ownwell
Property Tax Assessment Values Across Barnwell, South Carolina
In Barnwell, 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 Barnwell 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 Barnwell, 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 Barnwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 29812, with a median tax bill of $421.
Average Barnwell Assessed Value
$45,400
Average Barnwell County Assessed Value
$37,200
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barnwell, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29812 | $3,600 | $11,200 | $45,400 | $107,300 | $174,660 |
Source: Ownwell
Property Tax Bills Across Barnwell, South Carolina
In Barnwell, SC, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. For instance, with a median home price of $45,400, the assessed value is determined by local assessment ratios. The property tax rate, applied to this assessed value, ultimately determines the tax bill. In Barnwell County, property tax bills can vary significantly. Homeowners may see tax bills as low as $156 at the 25th percentile, while those at the 75th percentile might pay around $963. The highest tax bills, in the 90th percentile, can reach up to $1,599. These taxes are crucial for funding local services, including schools and public safety. Compared to the national median property tax rate of 0.99%, Barnwell’s rates can offer some relief to homeowners. However, the impact on individual homeowners depends on the specific assessed value of their property and the applicable tax rate. Understanding these factors helps homeowners anticipate their annual tax obligations more accurately.
Average Barnwell Tax Bill
$421
Average Barnwell County Tax Bill
$366
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Barnwell, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29812 | $56 | $156 | $421 | $963 | $1,599 |
Source: Ownwell