Timmonsville, South Carolina Property Taxes
The median property tax rate in Timmonsville, SC is 1.00%, slightly higher than the national median of 0.99% and significantly above the South Carolina state median of 0.72%. With a median home value of $53,400 in Timmonsville, the typical annual property tax bill amounts to $474, which is considerably lower than the national median of $2,690. Property taxes in Timmonsville are determined based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Gaining a thorough understanding of Timmonsville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to notable annual savings. Whether you're in the heart of Timmonsville 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
Timmonsville, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$534
Ownwell’s Timmonsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Timmonsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Timmonsville 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 Timmonsville, South Carolina
Property taxes in Timmonsville, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Timmonsville is 1.00%, slightly higher than the U.S. national median of 0.99%. Local government entities within Timmonsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Timmonsville 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 Timmonsville's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29161 zip code has the highest median property tax rate of 1.00%, while the same zip code also has the lowest median tax rate of 1.00%. Understanding how these cities compare with Timmonsville provides valuable insights into the varying tax landscape across Darlington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Timmonsville Tax Rate
1.00%
Average Darlington County Tax Rate
1.00%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Timmonsville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29161 | 0.87% | 1.00% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Timmonsville, South Carolina
In Timmonsville, 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 Darlington 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 Timmonsville, 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 Timmonsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Timmonsville is $53,400, with tax bills ranging from the 25th percentile at $134 to the 90th percentile at $1,788. The zip code with the highest median tax bill is 29161, at $474.
Property Tax Assessment Values Across Timmonsville, South Carolina
Source: Ownwell
$34,400
$150,300
$266,200
Average Timmonsville Assessed Value
$53,400
Average Darlington County Assessed Value
$53,600
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Timmonsville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29161 | $5,600 | $14,100 | $53,400 | $112,150 | $209,100 |
Source: Ownwell
Property Tax Bills Across Timmonsville, South Carolina
Property tax bills in Timmonsville, located in Darlington County, SC, are primarily determined by the assessed value of a property and the local tax rate. The assessed value is a percentage of the market value of the home, which in Timmonsville has a median home price of $53,400. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the final tax bill, including property improvements, neighborhood changes, and local budget requirements. In Timmonsville, the tax bills vary significantly, with the 25th percentile at $134 and the 75th percentile at $998. The highest median tax bill in the area is $474, which is relatively low compared to the national median property tax rate of 0.99%. For homeowners, understanding these factors is crucial as it impacts their annual financial planning. Lower property taxes can make homeownership more affordable but may also reflect on the public services funded by these taxes.
Average Timmonsville Tax Bill
$474
Average Darlington County Tax Bill
$513
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Timmonsville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29161 | $56 | $134 | $474 | $998 | $1,788 |
Source: Ownwell