Bishopville, South Carolina Property Taxes
The median property tax rate in Bishopville, SC is 0.61%, considerably lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Bishopville at $110,000, the typical annual property tax bill reaches $620, significantly below the national median of $2,690. Property taxes in Bishopville 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 Bishopville'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 Bishopville 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
Bishopville, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$671
$623
Ownwell’s Bishopville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bishopville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bishopville 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 Bishopville, South Carolina
Property taxes in Bishopville, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bishopville is 0.61%, which is lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Bishopville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bishopville 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 Bishopville's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29010 has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with Bishopville provides valuable insights into the varying tax landscape across Kershaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bishopville Tax Rate
0.61%
Average Kershaw County Tax Rate
0.66%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bishopville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29010 | 0.31% | 0.48% | 0.61% | 0.97% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Bishopville, South Carolina
In Bishopville, 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 Kershaw 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 Bishopville, 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 Bishopville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Bishopville is $110,000. The highest and lowest median tax bills are both $620, found in zip code 29010.
Property Tax Assessment Values Across Bishopville, South Carolina
Source: Ownwell
$22,500
$157,450
$292,400
Average Bishopville Assessed Value
$110,000
Average Kershaw County Assessed Value
$113,100
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bishopville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29010 | $10,660 | $44,100 | $110,000 | $170,500 | $226,640 |
Source: Ownwell
Property Tax Bills Across Bishopville, South Carolina
In Bishopville, located in Kershaw County, SC, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the market value of the home, which in Bishopville is around $110,000. Local tax authorities then apply the tax rate to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. For instance, properties in the zip code 29010 have a median tax bill of $620. Homeowners can expect to pay within a range, with the 25th percentile tax bill at $314 and the 75th percentile reaching $1,097. The 90th percentile tax bill can go up to $1,362. Understanding these calculations is crucial for homeowners as property taxes can significantly impact annual expenses. Comparatively, the national median property tax rate is 0.99%, highlighting how local variations can affect overall tax obligations.
Average Bishopville Tax Bill
$620
Average Kershaw County Tax Bill
$792
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Bishopville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29010 | $203 | $314 | $620 | $1,097 | $1,362 |
Source: Ownwell