New Zion, South Carolina Property Taxes
The median property tax rate in New Zion, SC, is 1.70%, significantly higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With a median home value of $23,200 in New Zion, the typical annual property tax bill is $275, which is notably lower than the national median of $2,690. Property taxes in New Zion are calculated based on the tax assessed value, which is often below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding New Zion'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 New Zion 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
New Zion, 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 New Zion Property Tax Bill Calculator assists homeowners, real estate investors, and potential owners in estimating their annual property taxes in New Zion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Zion 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 New Zion, South Carolina
Property taxes in New Zion, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Zion is 1.70%, significantly higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within New Zion set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Zion 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 New Zion's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29111 has the highest median property tax rate of 1.70%, while the same zip code also has the lowest median tax rate of 1.70%. Understanding how these cities compare with New Zion provides valuable insights into the varying tax landscape across Clarendon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Zion Tax Rate
1.70%
Average Clarendon County Tax Rate
1.84%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Zion, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29111 | 0.61% | 0.75% | 1.70% | 2.33% | 2.97% |
Source: Ownwell
Property Tax Assessment Values Across New Zion, South Carolina
In New Zion, 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 Clarendon County Assessor 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 New Zion, 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 New Zion is $23,200, with tax bills ranging from $153 at the 25th percentile to $1,390 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 29111, at $275. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average New Zion Assessed Value
$23,200
Average Clarendon County Assessed Value
$32,100
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Zion, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29111 | $5,520 | $10,000 | $23,200 | $52,900 | $88,217 |
Source: Ownwell
Property Tax Bills Across New Zion, South Carolina
In New Zion, Clarendon County, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For homeowners in New Zion, the median home price is $23,200. Property tax rates in this region can vary, with the 25th percentile tax bill at $153 and the 75th percentile at $550. For those at the higher end, the 90th percentile tax bill can reach up to $1,390. To determine the exact tax bill, the assessed value is multiplied by the local property tax rate. This rate is influenced by various factors, including local government budgets and public service funding needs. Compared to the national median property tax rate of 0.99%, New Zion’s property tax bills reflect the local economic conditions and public service requirements. Homeowners need to be aware of these calculations as they directly impact annual expenses and overall affordability of homeownership in the area.
Average New Zion Tax Bill
$275
Average Clarendon County Tax Bill
$360
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across New Zion, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29111 | $109 | $153 | $275 | $550 | $1,390 |
Source: Ownwell