Garnett, South Carolina Property Taxes
The median property tax rate in Garnett, SC, is 1.01%, slightly above both the national median of 0.99% and the South Carolina state median of 0.72%. With a median home value in Garnett of $14,300, the typical annual property tax bill amounts to $353, which is significantly lower than the national median of $2,690. Property taxes in Garnett are determined based on the tax assessed value, which usually falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Garnett's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Garnett or another part of Hampton County, grasping the nuances of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Garnett, 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 Garnett Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Garnett with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Garnett to provide an estimate of your property tax bill. This user-friendly tool offers a clear understanding of potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Garnett, South Carolina
Property taxes in Garnett, South Carolina, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Garnett is 1.01%, higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Garnett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garnett 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 Garnett's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29922 zip code has both the highest and lowest median property tax rate of 1.01%. Understanding how these cities compare with Garnett provides valuable insights into the varying tax landscape across Hampton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Garnett Tax Rate
1.01%
Average Hampton County Tax Rate
1.01%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garnett, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29922 | 0.42% | 0.97% | 1.01% | 2.98% | 2.99% |
Source: Ownwell
Property Tax Assessment Values Across Garnett, South Carolina
In Garnett, 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 local 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 Garnett, 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. The median home price in Garnett is $14,300, with tax bills ranging from $159 at the 25th percentile to $2,106 at the 90th percentile. The highest and lowest median tax bill, both at $353, are found in the 29922 zip code. Understanding these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Garnett Assessed Value
$14,300
Average Hampton County Assessed Value
$23,800
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Garnett, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29922 | $2,300 | $6,600 | $14,300 | $42,262 | $87,000 |
Source: Ownwell
Property Tax Bills Across Garnett, South Carolina
In Garnett, 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 market value of the property. Homeowners in Garnett can expect their tax bills to vary significantly, depending on the assessed value of their property and the local tax rate. For instance, the median home price in Garnett is $14,300, which influences the amount of property tax owed. Factors such as property improvements, location, and market trends are considered when assessing property values. The tax bill for homeowners in Garnett can range widely, with the 25th percentile paying around $159, while those in the 75th percentile face bills of approximately $1,038. At the higher end, the 90th percentile sees tax bills reaching up to $2,106. These variations can significantly impact homeowners' finances, making it essential for residents to understand how their property tax bill is calculated and what factors influence it.
Average Garnett Tax Bill
$353
Average Hampton County Tax Bill
$543
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Garnett, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29922 | $74 | $159 | $353 | $1,038 | $2,106 |
Source: Ownwell