Swansea, South Carolina Property Taxes
The median property tax rate in Swansea, SC is 0.49%, considerably lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Swansea, the typical annual property tax bill reaches $330, significantly below the national median of $2,690. Property taxes in Swansea 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 Swansea'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 Swansea 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
Swansea, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$288
Ownwell’s Swansea Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Swansea with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Swansea 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 Swansea, South Carolina
Property taxes in Swansea, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Swansea is 0.49%, which is lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Swansea set these rates annually, and they can vary significantly across different neighborhoods. Each year, Swansea 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 Swansea's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29160 has the highest median property tax rate of 0.49%, while the same zip code also has the lowest median tax rate of 0.49%. Understanding how these areas compare with Swansea provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Swansea Tax Rate
0.49%
Average Calhoun County Tax Rate
0.54%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Swansea, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29160 | 0.16% | 0.36% | 0.49% | 1.23% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Swansea, South Carolina
In Swansea, 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 Calhoun 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. 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 Swansea helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 29160 has the highest and lowest median tax bills at $330.
Average Swansea Assessed Value
$58,850
Average Calhoun County Assessed Value
$64,700
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Swansea, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29160 | $6,880 | $21,300 | $58,850 | $168,692 | $272,285 |
Source: Ownwell
Property Tax Bills Across Swansea, South Carolina
In Swansea, Calhoun County, SC, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. This assessed value is a percentage of the property's market value. The local tax rate, or millage rate, is then applied to this assessed value to calculate the annual property tax bill. Various factors, such as property improvements, neighborhood developments, and local government budgets, influence this tax rate. For homeowners in Swansea, the median home price is $58,850. Property tax bills can vary significantly, with the 25th percentile paying around $123 and the 75th percentile paying up to $788 annually. At the higher end, the 90th percentile sees tax bills as much as $1,292. These variations can impact household budgets, particularly when compared to the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their annual expenses and plan accordingly.
Average Swansea Tax Bill
$330
Average Calhoun County Tax Bill
$366
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Swansea, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29160 | $42 | $123 | $330 | $788 | $1,292 |
Source: Ownwell