Gresham, South Carolina Property Taxes
The median property tax rate in Gresham, SC is 1.61%, significantly higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Gresham, the typical annual property tax bill reaches $124, which is well below the national median of $2,690. Property taxes in Gresham are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gresham'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 Gresham 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
Gresham, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$159
Ownwell’s Gresham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gresham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gresham 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 Gresham, South Carolina
Property taxes in Gresham, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gresham is 1.61%, significantly higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Gresham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gresham 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 Gresham's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29546 zip code has the highest median property tax rate of 1.61%, while the same zip code also has the lowest median tax rate of 1.61%. Understanding how these cities compare with Gresham provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gresham Tax Rate
1.61%
Average Marion County Tax Rate
1.68%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gresham, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29546 | 0.33% | 0.42% | 1.61% | 2.16% | 2.96% |
Source: Ownwell
Property Tax Assessment Values Across Gresham, South Carolina
In Gresham, 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 Marion 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 Gresham, 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 Gresham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Gresham is $124 in the 29546 zip code, while the lowest median tax bill is also $124 in the same zip code.
Average Gresham Assessed Value
$9,896
Average Marion County Assessed Value
$10,000
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gresham, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29546 | $3,070 | $5,358 | $9,896 | $22,500 | $41,105 |
Source: Ownwell
Property Tax Bills Across Gresham, South Carolina
In Gresham, Marion County, SC, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the market value of the home. For instance, the median home price in Gresham is $9,896. Property tax rates in Gresham are relatively low compared to the national median property tax rate of 0.99%. Homeowners in Gresham can expect varying tax bills depending on their property's assessed value. The 25th percentile tax bill is around $63, while the 75th percentile tax bill rises to approximately $219. For those at the 90th percentile, the tax bill can reach up to $410. This range indicates that property taxes in Gresham are generally affordable, making it an attractive location for homeowners. The highest and lowest median tax bills in the area are both $124, highlighting a degree of consistency across different properties.
Average Gresham Tax Bill
$124
Average Marion County Tax Bill
$142
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Gresham, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29546 | $35 | $63 | $124 | $219 | $410 |
Source: Ownwell