Effingham, South Carolina Property Taxes
The median property tax rate in Effingham, SC is 0.45%, 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 Effingham, the typical annual property tax bill reaches $444, well below the national median of $2,690. Property taxes in Effingham are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Effingham'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 Effingham 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
Effingham, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$225
$208
Ownwell’s Effingham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Effingham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Effingham 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 Effingham, South Carolina
Property taxes in Effingham, South Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Effingham is 0.45%, significantly lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Effingham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Effingham 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 Effingham's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29541 zip code has both the highest and lowest median property tax rate of 0.45%. Understanding how these cities compare with Effingham provides valuable insights into the varying tax landscape across Florence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Effingham Tax Rate
0.45%
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 Effingham, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29541 | 0.23% | 0.43% | 0.45% | 0.94% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Effingham, South Carolina
In Effingham, 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 Florence 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 Effingham, 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 Effingham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $444.00, found in zip code 29541.
Property Tax Assessment Values Across Effingham, South Carolina
Source: Ownwell
$12,935
$64,188
$115,440
Average Effingham Assessed Value
$49,908
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 Effingham, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29541 | $4,856 | $14,790 | $49,908 | $124,634 | $190,186 |
Source: Ownwell
Property Tax Bills Across Effingham, South Carolina
In Effingham, located in Florence County, SC, property tax bills are calculated based on the assessed value of a property. The assessed value is a percentage of the market value of the home, which is determined by local tax assessors. Once the assessed value is established, the local tax rate, or millage rate, is applied. This rate is set by various taxing entities, including the county, school districts, and other local authorities. For example, with a median home price of $49,908, property owners can expect a range of tax bills. The 25th percentile tax bill is around $191, while the 75th percentile tax bill is approximately $814. At the 90th percentile, the tax bill can reach up to $1321. The highest and lowest median tax bills in Effingham are both $444, indicating a consistent rate across the area. These tax bills directly impact homeowners by influencing their annual expenses. Lower property taxes can make homeownership more affordable, while higher taxes can increase the cost of maintaining a property. Understanding these factors is crucial for homeowners to manage their finances effectively.
Average Effingham Tax Bill
$444
Average Florence County Tax Bill
$515
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Effingham, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29541 | $69 | $191 | $444 | $814 | $1,321 |
Source: Ownwell