Edgefield, South Carolina Property Taxes
The median property tax rate in Edgefield, SC is 0.56%, significantly lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With a median home value in Edgefield of $78,177, the typical annual property tax bill is $497, well below the national median of $2,690. Property taxes in Edgefield are based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Edgefield'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 Edgefield 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
Edgefield, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$438
Ownwell’s Edgefield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edgefield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edgefield 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 Edgefield, South Carolina
Property taxes in Edgefield, South Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Edgefield is 0.56%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Edgefield set these rates annually, and they can vary across different neighborhoods. Each year, Edgefield 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 Edgefield's effective property tax rate to the national median. For comparison, the zip code 29824 has both the highest and lowest median property tax rate in the county at 0.56%. Understanding how these areas compare with Edgefield provides valuable insights into the varying tax landscape across Edgefield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edgefield Tax Rate
0.56%
Average Edgefield County Tax Rate
0.56%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edgefield, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29824 | 0.30% | 0.45% | 0.56% | 0.78% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Edgefield, South Carolina
In Edgefield, 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 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 Edgefield, 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 Edgefield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Edgefield both stand at $497, with the zip code 29824 reflecting this value.
Average Edgefield Assessed Value
$78,177
Average Edgefield County Assessed Value
$82,866
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edgefield, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29824 | $8,000 | $28,173 | $78,177 | $161,275 | $256,329 |
Source: Ownwell
Property Tax Bills Across Edgefield, South Carolina
In Edgefield, SC, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Edgefield can expect a range of property tax bills. For instance, the 25th percentile tax bill is around $235, while the 75th percentile reaches up to $845. The top 10% of tax bills can be as high as $1,236. The median home price in Edgefield is $78,177, which provides context for these tax amounts. Comparing this to the national median property tax rate of 0.99%, homeowners in Edgefield may find their property taxes relatively manageable. These taxes are crucial for funding local services and infrastructure, directly impacting the community's quality of life.
Average Edgefield Tax Bill
$497
Average Edgefield County Tax Bill
$555
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Edgefield, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29824 | $100 | $235 | $497 | $845 | $1,236 |
Source: Ownwell