Plum Branch, South Carolina Property Taxes
The median property tax rate in Plum Branch, SC is 0.60%, significantly lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Plum Branch at $41,136, the typical annual property tax bill is $281, far below the national median of $2,690. Property taxes in Plum Branch are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Plum Branch'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 Plum Branch 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
Plum Branch, 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 Plum Branch Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plum Branch with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plum Branch 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 Plum Branch, South Carolina
Property taxes in Plum Branch, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plum Branch is 0.60%, lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Plum Branch set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plum Branch 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 Plum Branch's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29845 has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Plum Branch 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 Plum Branch Tax Rate
0.60%
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 Plum Branch, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29845 | 0.30% | 0.40% | 0.60% | 0.82% | 2.72% |
Source: Ownwell
Property Tax Assessment Values Across Plum Branch, South Carolina
In Plum Branch, 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 Edgefield 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 Plum Branch, 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 Plum Branch helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $281 in zip code 29845, while the lowest median tax bill is also $281 in the same zip code.
Property Tax Assessment Values Across Plum Branch, South Carolina
Source: Ownwell
$6,902
$79,521
$152,140
Average Plum Branch Assessed Value
$41,136
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 Plum Branch, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29845 | $7,109 | $19,344 | $41,136 | $66,811 | $108,791 |
Source: Ownwell
Property Tax Bills Across Plum Branch, South Carolina
In Plum Branch, located in Edgefield County, SC, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Plum Branch is $41,136. Property taxes are determined by multiplying the assessed value by the local tax rate. For example, homeowners in the 25th percentile pay around $122 in property taxes, while those in the 75th percentile pay about $396, and those in the 90th percentile pay up to $669. Factors influencing the tax bill include the market value of the property, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Plum Branch homeowners generally experience lower property tax bills, which can be a financial relief. This relatively lower property tax burden can make homeownership more affordable and attractive in this region, impacting decisions on purchasing and maintaining property.
Average Plum Branch Tax Bill
$281
Average Edgefield County Tax Bill
$555
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Plum Branch, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29845 | $100 | $122 | $281 | $396 | $669 |
Source: Ownwell