Gifford, Hampton County, South Carolina Property Taxes
The median property tax rate in Gifford, SC is 3.12%, 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 Gifford, the typical annual property tax bill reaches $115, which, while lower in dollar amount, still reflects a significant rate. Property taxes in Gifford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gifford'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 Gifford 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
Gifford, Hampton County, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.12%
Estimate Property Tax Bill
$265
$246
Ownwell’s Gifford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gifford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gifford 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 Gifford, Hampton County, South Carolina
Property taxes in Gifford, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gifford is 0.52%, significantly lower than both the South Carolina state median of 0.5% and the U.S. national median of 0.99%. Local government entities within Gifford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gifford 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 Gifford's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29923 zip code has the highest median property tax rate of 0.52%, while the same 29923 zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Gifford 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 Gifford Tax Rate
3.12%
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 Gifford, Hampton County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29923 | 0.52% | 1.04% | 3.12% | 3.15% | 3.15% |
Source: Ownwell
Property Tax Assessment Values Across Gifford, Hampton County, South Carolina
In Gifford, 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 Hampton 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 Gifford, 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 Gifford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Gifford is $8,500, with tax bills ranging from $82 at the 25th percentile to $889 at the 90th percentile. The zip code 29923 has both the highest and lowest median tax bill of $115.
Property Tax Assessment Values Across Gifford, Hampton County, South Carolina
Source: Ownwell
$8,500
$28,900
$49,300
Average Gifford Assessed Value
$8,500
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 Gifford, Hampton County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29923 | $2,000 | $3,000 | $8,500 | $29,400 | $48,860 |
Source: Ownwell
Property Tax Bills Across Gifford, Hampton County, South Carolina
In Gifford, SC, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Gifford is $8,500, and local tax rates are applied to this assessed value to determine the annual property tax bill. Factors such as property location, improvements, and exemptions can influence the final amount. For instance, tax bills in the 25th percentile are around $82, whereas those in the 75th percentile reach approximately $379, and the 90th percentile can see bills as high as $889. Compared to the national median property tax rate of 0.99%, Gifford's property taxes are relatively modest. The highest and lowest median tax bills in the area are both $115, indicating a consistent rate across different properties. These property taxes fund essential community services like schools, emergency services, and infrastructure, directly impacting the quality of life for homeowners in Gifford. Understanding these factors helps residents anticipate their financial obligations and plan accordingly.
Average Gifford Tax Bill
$115
Average Hampton County Tax Bill
$543
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Gifford, Hampton County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29923 | $31 | $82 | $115 | $379 | $889 |
Source: Ownwell