Lobeco, South Carolina Property Taxes
The median property tax rate in Lobeco, South Carolina is 1.08%, higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Lobeco, the typical annual property tax bill reaches $262, which is below the national median of $2,690. Property taxes in Lobeco are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lobeco'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 Lobeco 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
Lobeco, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$261
-$2,739
Ownwell’s Lobeco Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lobeco with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lobeco 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 Lobeco, South Carolina
Property taxes in Lobeco, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lobeco is 0.57%, lower than both the South Carolina state median of 0.57% and the U.S. national median of 0.99%. Local government entities within Lobeco set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lobeco 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 Lobeco's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29931 zip code has both the highest and lowest median property tax rate of 0.57%. Understanding how these cities compare with Lobeco provides valuable insights into the varying tax landscape across Beaufort County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lobeco Tax Rate
1.08%
Average Beaufort County Tax Rate
0.82%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lobeco, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29931 | 1.08% | 1.08% | 1.08% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Lobeco, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lobeco, 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 Beaufort County Appraisal District 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 Lobeco, 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. For instance, the highest median tax bill in the area is $262 in the 29931 zip code, which is also the lowest median 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 Lobeco helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Lobeco, South Carolina
Source: Ownwell
$24,200
$838,625
$1,653,050
Average Lobeco Assessed Value
$24,200
Average Beaufort County Assessed Value
$278,200
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lobeco, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29931 | $24,200 | $24,200 | $24,200 | $24,200 | $24,200 |
Source: Ownwell
Property Tax Bills Across Lobeco, South Carolina
In Lobeco, SC, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Lobeco is $24,200. Property taxes in this region are notably lower than the national median property tax rate of 0.99%. Homeowners in Lobeco can expect their tax bills to be relatively consistent, with the 25th, 75th, and 90th percentiles all being $262. This uniformity is reflected across the region, as the highest and lowest median tax bills are both $262, specifically in the 29931 zip code. Several factors contribute to the final tax bill, including the assessed value of the property and the local tax rate. For homeowners, this means that property taxes are predictable and manageable, making it easier to budget for annual expenses. The relatively low tax burden in Lobeco can be an attractive factor for potential homebuyers, offering affordability in property ownership.
Average Lobeco Tax Bill
$262
Average Beaufort County Tax Bill
$2,400
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Lobeco, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29931 | $262 | $262 | $262 | $262 | $262 |
Source: Ownwell