Okatie, South Carolina Property Taxes
The median property tax rate in Okatie, SC is 0.66%, which is notably lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With a median home value of $316,000 in Okatie, the typical annual property tax bill amounts to $2,495, which is below the national median of $2,690. Property taxes in Okatie are based on the assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Okatie'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 Okatie or another part of Beaufort County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Okatie, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$2,086
Ownwell's Okatie Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Okatie with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Okatie to provide an accurate estimate of your property tax bill. This tool helps you understand potential tax liabilities, making financial planning easier. For those interested in more localized insights, additional neighborhood-level information is available further down the page. Your property's assessed value, determined by Beaufort County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Okatie, South Carolina
Property taxes in Okatie, 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 Okatie is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Okatie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Okatie 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 Okatie's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29909 zip code has the highest median property tax rate of 0.66%, while the same 29909 zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Okatie 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 Okatie Tax Rate
0.66%
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 Okatie, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29909 | 0.46% | 0.53% | 0.66% | 1.33% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Okatie, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Okatie, 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 Assessor for tax purposes. On the other hand, 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 Okatie, 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. For instance, the zip code 29909 has the highest and lowest median tax bill, both at $2,495. Being aware of these valuation processes in Okatie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Okatie, South Carolina
Source: Ownwell
$24,200
$838,625
$1,653,050
Average Okatie Assessed Value
$316,000
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 Okatie, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29909 | $185,000 | $242,975 | $316,000 | $472,950 | $838,160 |
Source: Ownwell
Property Tax Bills Across Okatie, South Carolina
In Okatie, located in Beaufort County, SC, property tax bills are calculated based on the property's assessed value and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. For instance, with a median home price of $316,000, the assessed value is a key factor in calculating the final tax bill. Homeowners in Okatie can expect their tax bills to vary widely, with the 25th percentile tax bill at approximately $1,565 and the 75th percentile reaching up to $4,477. The 90th percentile tax bill can even go as high as $7,824, indicating significant variability based on property values and applicable exemptions. Comparatively, Beaufort County's highest median tax bill stands at $2,495, which is substantially above the national median property tax rate of 0.99%. This variability in tax bills affects homeowners by influencing their annual financial planning and potentially impacting their decision to buy or sell property in the area.
Average Okatie Tax Bill
$2,495
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 Okatie, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29909 | $1,023 | $1,565 | $2,495 | $4,477 | $7,824 |
Source: Ownwell