Pelion, South Carolina Property Taxes
The median property tax rate in Pelion, SC is 0.58%, 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 Pelion, the typical annual property tax bill reaches $487, significantly below the national median of $2,690. Property taxes in Pelion 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 Pelion'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 Pelion or another part of Lexington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pelion, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$270
$251
Ownwell’s Pelion Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pelion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pelion 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 Pelion, South Carolina
Property taxes in Pelion, South Carolina, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Pelion is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within Pelion set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pelion 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 Pelion's effective property tax rate to other areas in South Carolina and the national median. For comparison, the ZIP code 29123 has both the highest and lowest median property tax rate of 0.58%. Understanding how these cities compare with Pelion provides valuable insights into the varying tax landscape across Lexington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pelion Tax Rate
0.58%
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 Pelion, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29123 | 0.25% | 0.57% | 0.58% | 2.94% | 2.96% |
Source: Ownwell
Property Tax Assessment Values Across Pelion, South Carolina
In Pelion, 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 Lexington County 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 Pelion, 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 Pelion helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Pelion is $46,600, with the highest and lowest median tax bills both recorded at $487 in zip code 29123.
Average Pelion Assessed Value
$46,600
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 Pelion, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29123 | $13,400 | $19,600 | $46,600 | $106,675 | $169,595 |
Source: Ownwell
Property Tax Bills Across Pelion, South Carolina
In Pelion, 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. Homeowners in Pelion, located in Lexington County, SC, experience varying tax bills depending on the value of their property. For instance, the median home price in Pelion is $46,600. Tax bills in the 25th percentile are around $222, while those in the 75th percentile can reach up to $804. The 90th percentile sees tax bills as high as $1,259. These tax bills impact homeowners by influencing their annual financial planning and overall housing affordability. Compared to the national median property tax rate of 0.99%, Pelion's property tax rates can be considered relatively moderate. Understanding these factors helps homeowners anticipate their financial obligations and manage their budgets more effectively.
Average Pelion Tax Bill
$487
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 Pelion, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29123 | $90 | $222 | $487 | $804 | $1,259 |
Source: Ownwell