Moncks Corner, South Carolina Property Taxes
The median property tax rate in Moncks Corner, SC is 0.54%, significantly lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Moncks Corner at $225,900, the typical annual property tax bill amounts to $1,281, well below the national median of $2,690. Property taxes in Moncks Corner are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Moncks Corner'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 Moncks Corner or another part of Berkeley County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Moncks Corner, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$1,220
Ownwell’s Moncks Corner Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moncks Corner with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moncks Corner 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 Moncks Corner, South Carolina
Property taxes in Moncks Corner, 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 Moncks Corner is 0.54%, which is lower than the U.S. national median of 0.99%. Local government entities within Moncks Corner set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moncks Corner 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 Moncks Corner's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29461 zip code has the highest median property tax rate of 0.54%, while the same zip code also has the lowest median tax rate of 0.54%. Understanding how these cities compare with Moncks Corner provides valuable insights into the varying tax landscape across Berkeley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moncks Corner Tax Rate
0.54%
Average Berkeley County Tax Rate
0.55%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moncks Corner, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29461 | 0.37% | 0.43% | 0.54% | 1.13% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Moncks Corner, South Carolina
In Moncks Corner, 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 Berkeley 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 Moncks Corner, 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 Moncks Corner helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $225,900, with median tax bills ranging from $884 at the 25th percentile to $3,731 at the 90th percentile. The zip code 29461 has both the highest and lowest median tax bill at $1,281.
Property Tax Assessment Values Across Moncks Corner, South Carolina
Source: Ownwell
$96,200
$2,413,900
$4,731,600
Average Moncks Corner Assessed Value
$225,900
Average Berkeley County Assessed Value
$231,300
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Moncks Corner, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29461 | $103,300 | $160,400 | $225,900 | $290,500 | $363,000 |
Source: Ownwell
Property Tax Bills Across Moncks Corner, South Carolina
In Moncks Corner, located in Berkeley County, 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 Moncks Corner is $225,900. Homeowners in this region can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $884 and the 90th percentile reaching $3,731. To determine the tax bill, local tax authorities first assess the property's value. This assessed value is then multiplied by the local tax rate, which is influenced by county and municipal budgets, school funding, and other public services. Homeowners in Moncks Corner face a median property tax bill of $1,281, which is relatively lower compared to the national median property tax rate of 0.99%. These property taxes play a crucial role in funding essential services such as education, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding how these taxes are calculated helps homeowners better manage their finances and anticipate annual expenses.
Average Moncks Corner Tax Bill
$1,281
Average Berkeley County Tax Bill
$1,364
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Moncks Corner, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29461 | $570 | $884 | $1,281 | $1,971 | $3,731 |
Source: Ownwell