Ridge Spring, South Carolina Property Taxes
The median property tax rate in Ridge Spring, SC is 0.52%, significantly lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With a median home value of $130,844 in Ridge Spring, the typical annual property tax bill is around $622, well below the national median of $2,690. Property taxes in Ridge Spring are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Ridge Spring'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 Ridge Spring or another part of Edgefield County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ridge Spring, 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 Ridge Spring Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ridge Spring with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ridge Spring 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 Ridge Spring, South Carolina
Property taxes in Ridge Spring, South Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Ridge Spring is 0.52%, which is lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Ridge Spring set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ridge Spring 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 Ridge Spring's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29129 has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Ridge Spring 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 Ridge Spring Tax Rate
0.52%
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 Ridge Spring, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29129 | 0.23% | 0.34% | 0.52% | 0.65% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Ridge Spring, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ridge Spring, South Carolina. 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 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 Ridge Spring, 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 Ridge Spring helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $622.00 in the 29129 zip code.
Property Tax Assessment Values Across Ridge Spring, South Carolina
Source: Ownwell
$6,902
$79,521
$152,140
Average Ridge Spring Assessed Value
$130,844
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 Ridge Spring, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29129 | $23,748 | $49,508 | $130,844 | $216,998 | $262,521 |
Source: Ownwell
Property Tax Bills Across Ridge Spring, South Carolina
In Ridge Spring, property tax bills are calculated based on the assessed value of the home, which is derived from the market value. The assessed value is multiplied by the local tax rate set by Edgefield County to determine the tax bill. For example, with a median home price of $130,844, homeowners can expect varying tax bills depending on specific factors such as property improvements and local levies. Tax bills in Ridge Spring range significantly, with the 25th percentile at $166 and the 75th percentile at $858, indicating a wide disparity based on property values and other contributing factors. The 90th percentile tax bill reaches up to $1,192, reflecting higher-valued properties or additional assessments. These property taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life for residents. Comparing this to the national median property tax rate of 0.99%, Ridge Spring's property taxes are relatively moderate, making it a potentially attractive location for homeowners seeking affordability and essential community services.
Average Ridge Spring Tax Bill
$622
Average Edgefield County Tax Bill
$555
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Ridge Spring, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29129 | $100 | $166 | $622 | $858 | $1,192 |
Source: Ownwell