Chesterfield, South Carolina Property Taxes
The median property tax rate in Chesterfield, SC is 0.84%, 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 Chesterfield, the typical annual property tax bill reaches $83, which is significantly lower than the national median of $2,690. Property taxes in Chesterfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Chesterfield'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 Chesterfield 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
Chesterfield, 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 Chesterfield Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating annual property taxes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chesterfield to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Chesterfield, South Carolina
Property taxes in Chesterfield, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chesterfield is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Chesterfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chesterfield 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 Chesterfield's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29709 zip code has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Chesterfield provides valuable insights into the varying tax landscape across Chesterfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chesterfield Tax Rate
0.84%
Average Chesterfield County Tax Rate
0.41%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chesterfield, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29709 | 0.32% | 0.41% | 0.84% | 1.71% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Chesterfield, South Carolina
In Chesterfield, 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 Chesterfield County Assessor's Office 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 Chesterfield, 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 median home price in Chesterfield is $5,100, with tax bills ranging from $37 at the 25th percentile to $118 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chesterfield Assessed Value
$5,100
Average Chesterfield County Assessed Value
$6,000
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chesterfield, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29709 | $5,000 | $5,000 | $5,100 | $11,000 | $22,320 |
Source: Ownwell
Property Tax Bills Across Chesterfield, South Carolina
In Chesterfield, SC, property tax bills are determined by assessing the value of a home and applying the local tax rate to this value. The assessed value is a percentage of the market value of the property, which is determined by the county assessor. In Chesterfield, the median home price is $5,100, significantly lower than the national median. This lower property value leads to relatively modest tax bills compared to other regions. Several factors influence the final tax bill: the assessed value of the property, the local tax rate, and any applicable exemptions or deductions. For instance, homeowners in the 25th percentile pay around $37 in property taxes, while those in the 75th percentile pay about $88. At the 90th percentile, the tax bill can reach up to $118. These figures illustrate the range of property tax burdens within the community. For homeowners, understanding these factors is crucial, as property taxes directly impact annual expenses and long-term financial planning. Lower property values in Chesterfield result in more affordable tax bills, offering some financial relief to homeowners.
Average Chesterfield Tax Bill
$83
Average Chesterfield County Tax Bill
$26
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Chesterfield, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29709 | $21 | $37 | $83 | $88 | $118 |
Source: Ownwell