Ridgeway, South Carolina Property Taxes
The median property tax rate in Ridgeway, SC is 0.56%, 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 Ridgeway at $215,100, the typical annual property tax bill amounts to $1,311, well below the national median of $2,690. Property taxes in Ridgeway are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ridgeway'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 Ridgeway or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ridgeway, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,205
Ownwell’s Ridgeway Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Ridgeway with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Ridgeway to project your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more granular insights, you can scroll down to explore trends at the neighborhood level. Your property’s assessed value is the figure assigned by the county for property tax purposes, factoring in any applicable exemptions.
Property Tax Rates Across Ridgeway, South Carolina
Property taxes in Ridgeway, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ridgeway is 0.56%, significantly lower than the U.S. national median of 0.99%. Local government entities within Ridgeway set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ridgeway 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 Ridgeway's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29130 zip code has the highest median property tax rate of 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Ridgeway provides valuable insights into the varying tax landscape across Fairfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ridgeway Tax Rate
0.56%
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 Ridgeway, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29130 | 0.41% | 0.47% | 0.56% | 1.69% | 2.40% |
Source: Ownwell
Property Tax Assessment Values Across Ridgeway, South Carolina
In Ridgeway, 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'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 Ridgeway, 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 Ridgeway helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Ridgeway is $215,100, with tax bills ranging from $490 at the 25th percentile to $4,322 at the 90th percentile. The highest and lowest median tax bills are both $1,311, found in the 29130 zip code.
Property Tax Assessment Values Across Ridgeway, South Carolina
Source: Ownwell
$22,500
$157,450
$292,400
Average Ridgeway Assessed Value
$215,100
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 Ridgeway, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29130 | $11,920 | $48,400 | $215,100 | $386,400 | $516,921 |
Source: Ownwell
Property Tax Bills Across Ridgeway, South Carolina
In Ridgeway, SC, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate, or millage rate, is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $215,100, homeowners in Ridgeway can expect varying tax bills. The 25th percentile tax bill is approximately $490, while the 75th percentile tax bill reaches up to $2,166. At the 90th percentile, tax bills can soar to $4,322, reflecting higher-valued properties or additional assessments. Factors influencing the tax bill include the home's market value, local tax rates, and any applicable exemptions or deductions. Homeowners in Ridgeway experience lower property tax rates compared to the national median of 0.99%. Understanding these factors is crucial for homeowners to manage their finances effectively and anticipate changes in their annual property tax obligations.
Average Ridgeway Tax Bill
$1,311
Average Kershaw County Tax Bill
$792
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Ridgeway, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29130 | $205 | $490 | $1,311 | $2,166 | $4,322 |
Source: Ownwell