Dillon, South Carolina Property Taxes
The median property tax rate in Dillon, SC is 0.44%, significantly lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Dillon at $135,000, the typical annual property tax bill amounts to $600, well below the national median of $2,690. Property taxes in Dillon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Dillon'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 Dillon 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
Dillon, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$594
$551
Ownwell’s Dillon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dillon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dillon 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 Dillon, South Carolina
Property taxes in Dillon, 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 Dillon is 0.44%, significantly lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Dillon set these rates annually, and they can vary across different neighborhoods. Each year, Dillon 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 Dillon's effective property tax rate to other areas in South Carolina and the national median. For comparison, the 29536 zip code has the highest median property tax rate of 0.44%, while the same zip code also has the lowest median tax rate of 0.44%. Understanding how these areas compare with Dillon provides valuable insights into the varying tax landscape across Horry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dillon Tax Rate
0.44%
Average Horry County Tax Rate
0.81%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dillon, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29536 | 0.44% | 0.44% | 0.44% | 0.44% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Dillon, South Carolina
In Dillon, 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 county 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 Dillon, 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 Dillon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Dillon is $135,000, with the median tax bill being $600 across all zip codes, including the highest and lowest tax bills found in zip code 29536.
Average Dillon Assessed Value
$135,000
Average Horry County Assessed Value
$160,000
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dillon, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29536 | $135,000 | $135,000 | $135,000 | $135,000 | $135,000 |
Source: Ownwell
Property Tax Bills Across Dillon, South Carolina
In Dillon, SC, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate, or millage rate, is applied to calculate the tax bill. The median home price in Dillon is $135,000, and property tax bills typically range around $600, regardless of the home’s value within typical ranges. This uniformity suggests a relatively stable tax rate in the area. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. For homeowners, understanding these components is crucial as property taxes can significantly impact annual expenses. Compared to the national median property tax rate of 0.99%, Dillon's property tax rate appears to be quite favorable, making it an attractive location for homeowners looking for lower property tax burdens.
Average Dillon Tax Bill
$600
Average Horry County Tax Bill
$1,084
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Dillon, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29536 | $600 | $600 | $600 | $600 | $600 |
Source: Ownwell