Lexington County Property Taxes
The median property tax rate in Lexington County is 0.57%, 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 Lexington County, the typical annual property tax bill reaches $1,039, which is well below the national median of $2,690. Property taxes in Lexington County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Lexington 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 Lexington or another part of Lexington County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lexington County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$841
Ownwell’s Lexington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Lexington with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Lexington 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 Lexington County, South Carolina
Property taxes in Lexington County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Lexington County is 0.57%, which is lower than the U.S. national median of 0.99%. Local government entities within Lexington County set these rates annually, and they can vary significantly between different areas within the county. Each year, Lexington 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 Lexington County's effective property tax rate with other counties in South Carolina and the national median. For comparison, the city of North has one of the higher property tax rates in South Carolina at 1.00%, while the city of Swansea boasts one of the lowest at 0.49%. Analyzing how Lexington County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Lexington County Tax Rate
0.57%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lexington County, South Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Batesburg | 0.27% | 0.60% | 0.90% | 2.63% | 3.07% |
| Cayce | 0.35% | 0.69% | 0.69% | 2.13% | 2.14% |
| Chapin | 0.45% | 0.55% | 0.61% | 0.67% | 2.59% |
| Columbia | 0.35% | 0.52% | 0.61% | 0.61% | 2.60% |
| Gaston | 0.31% | 0.31% | 0.55% | 2.69% | 2.70% |
| Gilbert | 0.29% | 0.48% | 0.57% | 0.88% | 2.95% |
| Irmo | 0.54% | 0.61% | 0.85% | 1.19% | 2.92% |
| Leesville | 0.25% | 0.49% | 0.60% | 2.61% | 2.96% |
| Lexington | 0.36% | 0.57% | 0.57% | 0.68% | 2.95% |
| Little Mountain | 0.32% | 0.60% | 0.61% | 2.58% | 2.59% |
| North | 0.31% | 0.31% | 1.00% | 2.69% | 2.71% |
| Pelion | 0.25% | 0.57% | 0.58% | 2.94% | 2.96% |
| Swansea | 0.22% | 0.31% | 0.49% | 2.69% | 2.71% |
| West Columbia | 0.31% | 0.55% | 0.57% | 1.93% | 2.22% |
Source: Ownwell
Property Tax Assessment Values Across Lexington County, South Carolina
In Lexington 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 Lexington 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 Lexington 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. For example, Chapin has the highest median tax bill at $1,860, while North has the lowest at $315. 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 Lexington County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Lexington County, South Carolina
Source: Ownwell
$24,100
$146,458
$268,816
Average Lexington County Assessed Value
$147,464
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lexington County, South Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Batesburg | $19,381 | $34,472 | $65,531 | $112,374 | $170,628 |
| Cayce | $44,548 | $70,217 | $104,899 | $146,582 | $197,191 |
| Chapin | $105,545 | $166,522 | $268,816 | $405,359 | $601,168 |
| Columbia | $98,926 | $130,966 | $162,000 | $213,788 | $299,285 |
| Gaston | $12,800 | $17,400 | $42,708 | $92,098 | $142,446 |
| Gilbert | $22,506 | $68,067 | $169,591 | $287,008 | $423,208 |
| Irmo | $85,991 | $96,975 | $125,055 | $162,216 | $202,984 |
| Leesville | $16,300 | $34,794 | $94,691 | $187,815 | $306,699 |
| Lexington | $54,103 | $125,598 | $179,406 | $259,307 | $365,970 |
| Little Mountain | $16,505 | $39,630 | $80,732 | $200,430 | $337,786 |
| North | $10,275 | $14,588 | $24,100 | $62,727 | $107,928 |
| Pelion | $13,400 | $19,600 | $46,600 | $106,675 | $169,595 |
| Swansea | $12,300 | $24,050 | $56,342 | $114,770 | $180,797 |
| West Columbia | $49,682 | $89,196 | $126,702 | $173,660 | $230,000 |
Source: Ownwell
Property Tax Bills Across Lexington County, South Carolina
In Lexington County, SC, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the home's market value, and this percentage can vary depending on the type of property. Once the assessed value is established, local tax rates, known as millage rates, are applied to determine the final tax bill. Factors such as property location, market trends, and any applicable exemptions or abatements play a significant role in calculating the tax bill. For instance, the median home price in Lexington County is $147,464. Homeowners in the 25th percentile can expect a tax bill around $609, while those in the 75th percentile might see bills as high as $1,758. At the 90th percentile, tax bills can reach $3,155. Comparatively, Chapin has the highest median tax bill at $1,860, while North has the lowest at $315. Understanding these variables can help homeowners better anticipate their property tax obligations.
Average Lexington County Tax Bill
$1,039
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Lexington County, South Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Batesburg | $163 | $390 | $796 | $1,345 | $2,178 |
| Cayce | $327 | $613 | $933 | $1,524 | $2,372 |
| Chapin | $758 | $1,155 | $1,860 | $3,034 | $4,978 |
| Columbia | $510 | $751 | $1,075 | $1,734 | $3,476 |
| Gaston | $63 | $226 | $399 | $698 | $1,379 |
| Gilbert | $213 | $535 | $1,115 | $1,998 | $3,615 |
| Irmo | $724 | $893 | $1,146 | $1,766 | $3,411 |
| Leesville | $128 | $350 | $747 | $1,399 | $2,575 |
| Lexington | $440 | $767 | $1,174 | $1,875 | $3,392 |
| Little Mountain | $179 | $395 | $839 | $1,398 | $2,015 |
| North | $42 | $152 | $315 | $456 | $681 |
| Pelion | $90 | $222 | $487 | $804 | $1,259 |
| Swansea | $67 | $201 | $404 | $720 | $1,461 |
| West Columbia | $302 | $588 | $940 | $1,493 | $2,619 |
Source: Ownwell