Varnville, South Carolina Property Taxes
The median property tax rate in Varnville, SC is 0.99%, aligning with the national median but significantly higher than the South Carolina state median of 0.72%. With the median home value in Varnville at $21,300, the typical annual property tax bill is $522, which is substantially lower than the national median of $2,690. Property taxes in Varnville are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Varnville'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 Varnville 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
Varnville, 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 Varnville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Varnville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Varnville 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 Varnville, South Carolina
Property taxes in Varnville, 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 Varnville is 0.99%, aligning with both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Varnville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Varnville 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 Varnville's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29944 zip code has both the highest and lowest median property tax rate of 0.99%. Understanding how these areas compare with Varnville 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 Varnville Tax Rate
0.99%
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 Varnville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29944 | 0.38% | 0.72% | 0.99% | 2.98% | 3.08% |
Source: Ownwell
Property Tax Assessment Values Across Varnville, South Carolina
In Varnville, 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 Assessor's Office 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 Varnville, 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 Varnville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $522 in the 29944 zip code, while the lowest median tax bill is also $522 in the same zip code.
Property Tax Assessment Values Across Varnville, South Carolina
Source: Ownwell
$8,500
$167,394
$326,288
Average Varnville Assessed Value
$21,300
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 Varnville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29944 | $3,400 | $7,000 | $21,300 | $71,100 | $124,575 |
Source: Ownwell
Property Tax Bills Across Varnville, South Carolina
In Varnville, located in Hampton County, SC, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Varnville stands at $21,300. Once the assessed value is determined, local tax rates are applied to calculate the annual property tax bill. The tax bills in Varnville can vary significantly. For instance, homeowners in the 25th percentile pay around $196 annually, while those in the 75th percentile face bills of approximately $1,108. At the higher end, the 90th percentile tax bill can reach up to $1,868. These tax bills directly impact homeowners by influencing their overall housing costs. Compared to the national median property tax rate of 0.99%, the property tax rates in Varnville can be relatively manageable, but the variation in tax bills highlights the importance of understanding one's specific tax obligations. Homeowners should be aware of these factors to budget effectively and explore potential exemptions or appeals if necessary.
Average Varnville Tax Bill
$522
Average Hampton County Tax Bill
$543
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Varnville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29944 | $91 | $196 | $522 | $1,108 | $1,868 |
Source: Ownwell