Garden City, South Carolina Property Taxes
The median property tax rate in Garden City, SC is 1.29%, 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 Garden City at $414,110, the typical annual property tax bill reaches $5,331, exceeding the national median of $2,690. Property taxes in Garden City are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Garden City'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 Garden City 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
Garden City, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$5,342
Ownwell’s Garden City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garden City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garden City 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 Garden City, South Carolina
Property taxes in Garden City, 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 Garden City is 1.29%, significantly higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Garden City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garden City 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 Garden City's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29576 zip code has the highest median property tax rate of 1.29%, while the same 29576 zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with Garden City 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 Garden City Tax Rate
1.29%
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 Garden City, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29576 | 0.66% | 1.05% | 1.29% | 1.54% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Garden City, South Carolina
In Garden City, 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 Horry 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 Garden City, 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 Garden City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 29576, both standing at $5,331.
Property Tax Assessment Values Across Garden City, South Carolina
Source: Ownwell
$5,650
$209,880
$414,110
Average Garden City Assessed Value
$414,110
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 Garden City, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29576 | $367,834 | $382,720 | $414,110 | $446,432 | $462,997 |
Source: Ownwell
Property Tax Bills Across Garden City, South Carolina
In Garden City, SC, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in Garden City is $414,110. The local tax rate is applied to this assessed value to calculate the annual tax bill. Factors such as property location, improvements, and exemptions can influence the assessed value. For homeowners, understanding their tax bill is crucial. In Garden City, the 25th percentile of tax bills is $4,197, while the 75th percentile reaches $6,286, indicating a range of tax responsibilities among residents. At the higher end, the 90th percentile tax bill is $7,337. Comparatively, the national median property tax rate stands at 0.99%, which can help homeowners gauge their tax burden relative to other regions. These taxes fund essential public services, impacting community quality and property values. Homeowners should stay informed about local tax policies to better manage their financial obligations and take advantage of any available exemptions.
Average Garden City Tax Bill
$5,331
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 Garden City, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29576 | $2,823 | $4,197 | $5,331 | $6,286 | $7,337 |
Source: Ownwell