Garden City, South Carolina Property Taxes
The median property tax rate in Garden City, SC is 1.52%, considerably higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Garden City at $993,700, the typical annual property tax bill reaches $15,062, far exceeding the national median of $2,690. Property taxes in Garden City 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 Garden City'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 Garden City 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
Garden City, 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 Garden City Property Tax Bill Calculator allows any homeowner, real estate investor, or prospective buyer to estimate their annual property taxes in Garden City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garden City 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 Garden City, South Carolina
Property taxes in Garden City, 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 Garden City is 1.52%, significantly higher than the U.S. national median of 0.99%. Local government entities within Garden City set these rates annually, and they can vary across different neighborhoods. Each year, Garden City 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 Garden City's effective property tax rate to other areas in South Carolina and the national median. For comparison, the zip code 29576 within Garden City has the highest median property tax rate of 1.52%, which is also the lowest rate in the area, indicating a uniform tax rate across this region. Understanding how Garden City's tax rate compares with other areas in Georgetown County provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Garden City Tax Rate
1.52%
Average Georgetown County Tax Rate
0.91%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garden City, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29576 | 1.51% | 1.51% | 1.52% | 1.52% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Garden City, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Garden City, 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 Georgetown 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 Garden City, 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. The median home price in Garden City is $993,700, with the 25th percentile tax bill at $13,052 and the 75th percentile at $16,963. The highest and lowest median tax bills, both at $15,062, are found in the 29576 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Garden City, South Carolina
Source: Ownwell
$13,100
$503,400
$993,700
Average Garden City Assessed Value
$993,700
Average Georgetown County Assessed Value
$155,000
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Garden City, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29576 | $566,400 | $860,250 | $993,700 | $1,120,100 | $1,235,000 |
Source: Ownwell
Property Tax Bills Across Garden City, South Carolina
In Garden City, Georgetown County, SC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners in this area face a median property tax rate that is significantly influenced by local policies and the need to fund public services such as schools and infrastructure. To determine the tax bill, the assessed value is multiplied by the local tax rate. For instance, with a median home price of $993,700, the tax bills range widely. At the 25th percentile, homeowners see bills around $13,052, while those at the 75th percentile face bills closer to $16,963. The 90th percentile tax bill can reach up to $18,694. These tax bills impact homeowners by contributing to their overall housing costs, which can influence decisions on property investments and homeownership affordability. Given the national median property tax rate of 0.99%, Garden City's rates reflect the specific economic and social priorities of the local community.
Average Garden City Tax Bill
$15,062
Average Georgetown County Tax Bill
$1,240
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Garden City, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29576 | $8,625 | $13,052 | $15,062 | $16,963 | $18,694 |
Source: Ownwell