Landrum, South Carolina Property Taxes
The median property tax rate in Landrum, SC is 0.69%, which is lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Landrum at $197,860, the typical annual property tax bill is $1,713, falling below the national median of $2,690. Property taxes in Landrum are calculated based on the tax assessed value, which often falls below market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Landrum'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 Landrum 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
Landrum, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$1,365
Ownwell’s Landrum Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Landrum with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Landrum to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed trends at a neighborhood level, additional localized information is available further down the page. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Landrum, South Carolina
Property taxes in Landrum, 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 Landrum is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Landrum set these rates annually, and they can vary significantly across different neighborhoods. Each year, Landrum 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 Landrum's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29356 zip code has the highest median property tax rate of 0.69%, while the 29356 zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Landrum provides valuable insights into the varying tax landscape across Greenville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Landrum Tax Rate
0.69%
Average Greenville County Tax Rate
0.80%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Landrum, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29356 | 0.40% | 0.59% | 0.69% | 1.91% | 2.32% |
Source: Ownwell
Property Tax Assessment Values Across Landrum, South Carolina
In Landrum, 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 Greenville 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 Landrum, 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 Landrum helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 29356, with a median bill of $1,713, while the lowest is also 29356, reflecting the same amount.
Average Landrum Assessed Value
$197,860
Average Greenville County Assessed Value
$178,730
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Landrum, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29356 | $33,154 | $84,155 | $197,860 | $426,080 | $730,146 |
Source: Ownwell
Property Tax Bills Across Landrum, South Carolina
In Landrum, located in Greenville County, SC, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The tax rate is then applied to this assessed value to determine the tax bill. Factors such as property location, size, and improvements can influence the assessed value. In Greenville County, the median home price is $197,860, and tax bills can vary widely. For instance, the 25th percentile tax bill is $718, while the 75th percentile tax bill rises to $3,653, and the 90th percentile tax bill reaches $6,680. These variations reflect differences in property values and applicable exemptions or deductions. Homeowners in Landrum should be aware of how these factors impact their tax obligations, as higher assessed values and tax rates can lead to significantly higher tax bills. Comparing these figures to the national median property tax rate of 0.99% helps residents understand their position relative to broader trends.
Average Landrum Tax Bill
$1,713
Average Greenville County Tax Bill
$1,574
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Landrum, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29356 | $280 | $718 | $1,713 | $3,653 | $6,680 |
Source: Ownwell