Summerton, South Carolina Property Taxes
The median property tax rate in Summerton, SC is 1.87%, significantly higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Summerton at $36,200, the typical annual property tax bill reaches $467, which is below the national median of $2,690. Property taxes in Summerton are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Summerton'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 Summerton 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
Summerton, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.87%
Estimate Property Tax Bill
$677
Ownwell’s Summerton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Summerton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Summerton 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 Summerton, South Carolina
Property taxes in Summerton, South Carolina, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Summerton is 1.87%, significantly higher than the U.S. national median of 0.99%. Local government entities within Summerton set these rates annually, and they can vary across different neighborhoods. Each year, Summerton 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. Comparing Summerton's effective property tax rate to other regions can provide 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 Summerton Tax Rate
1.87%
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 Summerton, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29148 | 0.54% | 0.87% | 1.87% | 2.46% | 2.87% |
Source: Ownwell
Property Tax Assessment Values Across Summerton, South Carolina
In Summerton, 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 Summerton, 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. For example, the median home price in Summerton is $36,200, with tax bills ranging from $224 at the 25th percentile to $2,267 at the 90th percentile. The zip code 29148 has both the highest and lowest median tax bill at $467. By understanding 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 Summerton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Summerton Assessed Value
$36,200
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 Summerton, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29148 | $6,300 | $13,900 | $36,200 | $75,350 | $152,300 |
Source: Ownwell
Property Tax Bills Across Summerton, South Carolina
In Summerton, located in Clarendon County, SC, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor's office. The assessed value is a percentage of the property's market value. The local tax rate is then applied to this assessed value to calculate the tax bill. For homeowners in Summerton, the median home price is $36,200. Property tax bills can vary significantly, with the 25th percentile tax bill at $224 and the 75th percentile reaching $965. The 90th percentile tax bill can go up to $2,267, indicating that higher-valued properties incur substantially higher taxes. The highest and lowest median tax bills are both $467, as seen in the zip code 29148. Compared to the national median property tax rate of 0.99%, Summerton's rates reflect the local market and assessment practices. These property taxes are crucial for funding public services, impacting homeowners by contributing to community resources while also representing a financial obligation.
Average Summerton Tax Bill
$467
Average Clarendon County Tax Bill
$360
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Summerton, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29148 | $135 | $224 | $467 | $965 | $2,267 |
Source: Ownwell