Mc Bee, South Carolina Property Taxes
The median property tax rate in McBee, SC is 0.47%, 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 McBee, the typical annual property tax bill reaches $24, significantly below the national median of $2,690. Property taxes in McBee 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 McBee'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 McBee or another part of Chesterfield County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mc Bee, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$23
$22
Ownwell’s MC BEE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC BEE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC BEE 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 Chesterfield County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Mc Bee, South Carolina
Property taxes in McBee, South Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in McBee is 0.47%, significantly lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within McBee set these rates annually, and they can vary across different neighborhoods. Each year, McBee 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 McBee's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29101 has both the highest and lowest median property tax rate of 0.47%. Understanding how these cities compare with McBee 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 Mc Bee Tax Rate
0.47%
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 Mc Bee, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29101 | 0.23% | 0.42% | 0.47% | 0.47% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Mc Bee, South Carolina
In MC BEE, 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 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 MC BEE, 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 MC BEE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The 25th percentile tax bill is $21, while the 75th percentile tax bill is $32, and the 90th percentile tax bill is $55.
Average Mc Bee Assessed Value
$5,000
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 Mc Bee, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29101 | $4,000 | $5,000 | $5,000 | $6,500 | $12,000 |
Source: Ownwell
Property Tax Bills Across Mc Bee, South Carolina
In MC BEE, Chesterfield County, SC, property tax bills are determined by assessing the value of a property and applying the local tax rate. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $5,000, homeowners can expect varying tax bills depending on their property's specific assessed value and the applicable tax rate. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. In Chesterfield County, the 25th percentile of tax bills is around $21, while the 75th percentile reaches approximately $32. For higher-valued properties, the tax bill can go up to $55 at the 90th percentile. Comparing these figures to the national median property tax rate of 0.99%, homeowners in MC BEE might find their property tax bills relatively manageable, but it's crucial to stay informed about local assessments and rates to anticipate any changes.
Average Mc Bee Tax Bill
$24
Average Chesterfield County Tax Bill
$26
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Bee, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29101 | $13 | $21 | $24 | $32 | $55 |
Source: Ownwell