Lancaster County Property Taxes
The median property tax rate in Lancaster County is 0.65%, which is 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 Lancaster County at $164,500, the typical annual property tax bill is $1,306, well below the national median of $2,690. Property taxes in Lancaster County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions, such as the primary residence and agricultural exemptions. Understanding Lancaster County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Lancaster or another part of Lancaster County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lancaster County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$1,069
$992
Ownwell’s Lancaster Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Lancaster with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Lancaster to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Lancaster County, South Carolina
Property taxes in Lancaster County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Lancaster County is 0.65%, which is lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Lancaster County set these rates annually, and they can vary significantly between different areas within the county. Each year, Lancaster County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Lancaster County's effective property tax rate with other counties in South Carolina and the national median. For comparison, the city of Pineville has one of the higher property tax rates in South Carolina at 2.49%, while the city of Heath Springs boasts one of the lowest at 0.61%. Analyzing how Lancaster County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Lancaster County Tax Rate
0.65%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lancaster County, South Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Charlotte | 0.45% | 1.03% | 1.98% | 1.98% | 1.98% |
| Fort Mill | 0.55% | 0.63% | 0.65% | 0.67% | 2.00% |
| Heath Springs | 0.27% | 0.56% | 0.61% | 1.98% | 1.98% |
| Indian Land | 0.53% | 1.43% | 1.73% | 2.00% | 2.61% |
| Jefferson | 0.30% | 0.51% | 0.66% | 1.98% | 1.98% |
| Kershaw | 0.28% | 0.55% | 0.64% | 1.98% | 1.99% |
| Lancaster | 0.36% | 0.61% | 0.64% | 1.98% | 1.99% |
| Pineville | 2.44% | 2.46% | 2.49% | 2.51% | 2.53% |
| Waxhaw | 1.98% | 1.98% | 1.98% | 1.99% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Lancaster County, South Carolina
In Lancaster County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Lancaster County Appraisal District. The assessed value, however, 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. Assessment notices in Lancaster County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Lancaster County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Fort Mill has the highest median tax bill at $2,215, while Charlotte has the lowest at $313.
Property Tax Assessment Values Across Lancaster County, South Carolina
Source: Ownwell
$15,800
$170,700
$325,600
Average Lancaster County Assessed Value
$164,500
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lancaster County, South Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Charlotte | $6,760 | $10,150 | $15,800 | $230,100 | $358,680 |
| Fort Mill | $169,600 | $248,700 | $325,600 | $413,200 | $509,800 |
| Heath Springs | $11,800 | $31,500 | $67,500 | $124,100 | $205,683 |
| Indian Land | $24,680 | $46,425 | $64,250 | $136,100 | $450,480 |
| Jefferson | $9,440 | $21,950 | $65,750 | $114,925 | $165,090 |
| Kershaw | $14,160 | $35,288 | $67,300 | $115,550 | $178,117 |
| Lancaster | $17,300 | $49,900 | $103,375 | $209,400 | $335,500 |
| Pineville | $19,440 | $20,100 | $21,200 | $22,300 | $22,960 |
| Waxhaw | $15,990 | $16,575 | $17,550 | $18,525 | $19,110 |
Source: Ownwell
Property Tax Bills Across Lancaster County, South Carolina
In Lancaster County, 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 is then applied to this assessed value to determine the annual tax bill. Factors such as property location, market conditions, and any applicable exemptions or deductions influence the final amount homeowners owe. For instance, the tax bill can vary significantly within the county; homeowners in Fort Mill face the highest median tax bill at $2,215, while those in Charlotte see the lowest at $313. The median home price in Lancaster County is $164,500, with tax bills ranging from the 25th percentile at $523 to the 75th percentile at $2,334, and reaching up to the 90th percentile at $3,290. These variations can significantly impact homeowners' financial planning, making it essential to understand how property taxes are assessed and calculated. Compared to the national median property tax rate of 0.99%, Lancaster County's rates can be seen as relatively moderate but variable depending on specific local factors.
Average Lancaster County Tax Bill
$1,306
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Lancaster County, South Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Charlotte | $134 | $201 | $313 | $317 | $320 |
| Fort Mill | $1,094 | $1,637 | $2,215 | $2,894 | $4,349 |
| Heath Springs | $104 | $232 | $518 | $1,045 | $1,562 |
| Indian Land | $280 | $685 | $849 | $1,284 | $8,976 |
| Jefferson | $121 | $191 | $458 | $865 | $1,308 |
| Kershaw | $121 | $260 | $544 | $996 | $1,603 |
| Lancaster | $153 | $390 | $857 | $1,763 | $2,960 |
| Pineville | $492 | $505 | $526 | $547 | $560 |
| Waxhaw | $318 | $329 | $348 | $367 | $378 |
Source: Ownwell
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