Florence County Property Taxes
The median property tax rate in Florence County is 0.45%, which is 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 Florence County, the typical annual property tax bill is $515, far below the national median of $2,690. Property taxes in Florence County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Florence County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Florence or another part of Florence County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Florence County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$120
Ownwell’s Florence County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Florence County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Florence County to estimate your property tax bill. This insight helps you understand potential tax liabilities. To see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Florence County, South Carolina
Property taxes in Florence County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Florence County is 0.45%, which is lower than the U.S. national median of 0.99%. Local government entities within Florence County set these rates annually, and they can vary significantly between different areas within the county. Each year, Florence County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Florence County's effective property tax rate with other counties in South Carolina and the national median. For comparison, the city of Lake City has one of the higher property tax rates in South Carolina at 0.63%, while the city of Timmonsville boasts one of the lowest at 0.42%. Analyzing how Florence County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Florence County Tax Rate
0.45%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Florence County, South Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Coward | 0.16% | 0.31% | 0.31% | 1.92% | 1.93% |
| Effingham | 0.23% | 0.43% | 0.45% | 0.94% | 2.04% |
| Florence | 0.29% | 0.45% | 0.45% | 2.03% | 2.12% |
| Hemingway | 0.33% | 0.37% | 0.42% | 2.27% | 2.27% |
| Johnsonville | 0.18% | 0.36% | 0.37% | 2.24% | 2.27% |
| Lake City | 0.21% | 0.31% | 0.63% | 2.61% | 2.62% |
| Olanta | 0.14% | 0.31% | 0.31% | 1.93% | 1.94% |
| Owatonna | N/A | N/A | N/A | N/A | N/A |
| Pamplico | 0.19% | 0.42% | 0.43% | 2.12% | 2.15% |
| Scranton | 0.17% | 0.31% | 0.37% | 1.89% | 2.02% |
| Timmonsville | 0.14% | 0.26% | 0.42% | 1.75% | 2.03% |
Source: Ownwell
Property Tax Assessment Values Across Florence County, South Carolina
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Florence County, SC. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Florence County Appraisal District. The assessed value, however, 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. Assessment notices in Florence County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Florence has the highest median tax bill at $694, while Coward has the lowest at $210. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Florence County, South Carolina
Source: Ownwell
$12,935
$64,188
$115,440
Average Florence County Assessed Value
$26,678
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Florence County, South Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Coward | $3,236 | $9,155 | $28,134 | $76,968 | $128,198 |
| Effingham | $4,856 | $14,790 | $49,908 | $124,634 | $190,186 |
| Florence | $6,000 | $23,165 | $88,444 | $163,540 | $261,270 |
| Hemingway | $3,070 | $6,986 | $26,773 | $62,262 | $122,101 |
| Johnsonville | $4,435 | $12,854 | $39,545 | $81,421 | $142,484 |
| Lake City | $4,080 | $14,087 | $40,276 | $73,591 | $129,045 |
| Olanta | $6,548 | $18,830 | $48,900 | $78,410 | $127,714 |
| Owatonna | N/A | N/A | N/A | N/A | N/A |
| Pamplico | $4,400 | $13,960 | $43,912 | $83,656 | $139,352 |
| Scranton | $3,901 | $10,253 | $31,492 | $72,156 | $126,475 |
| Timmonsville | $3,697 | $11,642 | $36,602 | $86,836 | $161,627 |
Source: Ownwell
Property Tax Bills Across Florence County, South Carolina
In Florence County, SC, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is applied to this assessed value to determine the tax bill. Several factors influence the final amount, including property location, exemptions, and the local millage rate set by taxing authorities. Homeowners in Florence County experience a range of property tax bills. The 25th percentile tax bill is $198, while the 75th percentile tax bill reaches $1009. At the 90th percentile, homeowners can expect to pay up to $1758. The highest median tax bill in the county is $694 in Florence city, whereas Coward city has the lowest median tax bill at $210. These tax bills can significantly impact homeowners, influencing their financial planning and overall cost of homeownership. Compared to the national median property tax rate of 0.99%, Florence County's tax rates provide a diverse range of financial obligations for its residents.
Average Florence County Tax Bill
$515
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Florence County, South Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Coward | $33 | $81 | $210 | $479 | $1,178 |
| Effingham | $69 | $191 | $444 | $814 | $1,321 |
| Florence | $163 | $386 | $694 | $1,257 | $2,120 |
| Hemingway | $51 | $103 | $308 | $696 | $1,245 |
| Johnsonville | $47 | $124 | $293 | $661 | $1,218 |
| Lake City | $60 | $154 | $401 | $868 | $1,510 |
| Olanta | $46 | $117 | $238 | $545 | $1,176 |
| Owatonna | N/A | N/A | N/A | N/A | N/A |
| Pamplico | $49 | $134 | $308 | $633 | $1,145 |
| Scranton | $34 | $94 | $236 | $555 | $1,167 |
| Timmonsville | $37 | $107 | $269 | $655 | $1,230 |
Source: Ownwell
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