Sumter, South Carolina Property Taxes
The median property tax rate in Sumter, SC is 0.79%, which is lower than the national median of 0.99% but slightly higher than the South Carolina state median of 0.72%. With a median home value of $20,960 in Sumter, the typical annual property tax bill is $206, significantly below the national median of $2,690. Property taxes in Sumter are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Sumter'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 Sumter 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
Sumter, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$166
$154
Ownwell’s Sumter Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Sumter with just two data inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Sumter to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed trends on a neighborhood level, further localized information is available. Your property’s assessed value is determined by the county for property tax purposes and takes into account any applicable exemptions.
Property Tax Rates Across Sumter, South Carolina
Property taxes in Sumter, South Carolina, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Sumter is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Sumter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sumter 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 Sumter's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29153 zip code has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these cities compare with Sumter provides valuable insights into the varying tax landscape across Lee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sumter Tax Rate
0.79%
Average Lee County Tax Rate
0.82%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sumter, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29153 | 0.26% | 0.70% | 0.79% | 2.13% | 2.20% |
Source: Ownwell
Property Tax Assessment Values Across Sumter, South Carolina
In Sumter, 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 local appraisal district 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 Sumter, 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 Sumter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Sumter is $206 in the 29153 zip code, while the lowest median tax bill is also $206 in the same zip code.
Average Sumter Assessed Value
$20,960
Average Lee County Assessed Value
$18,320
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sumter, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29153 | $4,596 | $8,900 | $20,960 | $59,550 | $171,898 |
Source: Ownwell
Property Tax Bills Across Sumter, South Carolina
In Sumter, SC, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate, also known as the millage rate, is then applied to this assessed value. Homeowners in Sumter can expect a wide range of tax bills, with the 25th percentile at $78 and the 75th percentile at $607. The 90th percentile tax bill can reach up to $1,115, reflecting the variability in property values and tax rates within the area. Several factors influence the final tax bill, including the property's market value, any applicable exemptions, and the specific millage rate set by local authorities. For example, the highest median tax bill in Sumter is $206, found in the zip code 29153. This variability means that while some homeowners may find their property taxes manageable, others may face a more significant financial burden. Understanding these factors is crucial for homeowners to anticipate their tax obligations and plan accordingly.
Average Sumter Tax Bill
$206
Average Lee County Tax Bill
$174
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Sumter, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29153 | $31 | $78 | $206 | $607 | $1,115 |
Source: Ownwell