Mullins, South Carolina Property Taxes
The median property tax rate in Mullins, SC is 1.78%, 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 Mullins, the typical annual property tax bill is $142, which is notably lower than the national median of $2,690. Property taxes in Mullins are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Mullins' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mullins or another part of Marion County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mullins, South Carolina Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,440
Ownwell’s Mullins Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mullins with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mullins 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 Mullins, South Carolina
Property taxes in Mullins, South Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mullins is 1.78%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mullins set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mullins 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 Mullins' effective property tax rate to other areas and the national median. For comparison, the 29574 zip code in Mullins has the highest median property tax rate of 1.78%, while the same 29574 zip code also has the lowest median tax rate of 1.78%. Understanding how these figures compare with Mullins 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 Mullins Tax Rate
1.78%
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 Mullins, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29574 | 0.37% | 0.47% | 1.78% | 2.32% | 2.68% |
Source: Ownwell
Property Tax Assessment Values Across Mullins, South Carolina
In Mullins, 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. 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 Mullins helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 29574 in Mullins has both the highest and lowest median tax bill of $142, highlighting the uniformity in tax assessments within the area.
Average Mullins Assessed Value
$10,000
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 Mullins, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29574 | $3,500 | $6,000 | $10,000 | $27,997 | $57,906 |
Source: Ownwell
Property Tax Bills Across Mullins, South Carolina
In Mullins, property tax bills are calculated based on the assessed value of a home, which is determined by the Marion County tax assessor. The assessed value is a percentage of the market value of the property. Local tax rates are then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Mullins, the property tax burden can vary significantly. For instance, the tax bill at the 25th percentile is $70, while at the 75th percentile, it reaches $274, and at the 90th percentile, it can be as high as $756. Despite these variations, the median property tax bill stands at $142, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more affordable in Mullins, contributing to the overall appeal of the area.
Average Mullins Tax Bill
$142
Average Marion County Tax Bill
$142
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Mullins, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29574 | $34 | $70 | $142 | $274 | $756 |
Source: Ownwell