Latta, Marlboro County, South Carolina Property Taxes
The median property tax rate in Latta, SC is 0.82%, slightly lower than the national median of 0.99% but higher than the South Carolina state median of 0.72%. With a median home value of $20,660 in Latta, the typical annual property tax bill amounts to $251, which is significantly below the national median of $2,690. Property taxes in Latta are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Latta's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Latta 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
Latta, Marlboro County, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$169
$157
Ownwell’s Latta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Latta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Latta 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 Latta, Marlboro County, South Carolina
Property taxes in Latta, South Carolina, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Latta is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Latta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Latta 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 Latta's effective property tax rate to other areas in Marlboro County and the national median. For comparison, the zip code 29565 has both the highest and lowest median property tax rate of 0.82%. Understanding how these cities compare with Latta provides valuable insights into the varying tax landscape across Marlboro County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Latta Tax Rate
0.82%
Average Marlboro County Tax Rate
0.75%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Latta, Marlboro County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29565 | 0.36% | 0.51% | 0.82% | 2.71% | 11.04% |
Source: Ownwell
Property Tax Assessment Values Across Latta, Marlboro County, South Carolina
In Latta, 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 Marlboro 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 Latta, 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 Latta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 29565 has the highest and lowest median tax bill, both at $251, illustrating the uniformity in tax assessments within the area.
Property Tax Assessment Values Across Latta, Marlboro County, South Carolina
Source: Ownwell
$20,660
$36,422
$52,183
Average Latta Assessed Value
$20,660
Average Marlboro County Assessed Value
$33,059
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Latta, Marlboro County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29565 | $2,156 | $9,193 | $20,660 | $71,413 | $170,290 |
Source: Ownwell
Property Tax Bills Across Latta, Marlboro County, South Carolina
In Latta, located in Marlboro County, SC, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Latta stands at $20,660. Property tax rates in this region are influenced by local government budgets and the need to fund public services such as schools, infrastructure, and emergency services. Homeowners in Latta can expect varying property tax bills. At the 25th percentile, the tax bill is around $179, while at the 75th percentile, it reaches approximately $569. For those at the 90th percentile, the tax bill can be as high as $957. The highest and lowest median tax bills in the area both stand at $251, indicating a consistent rate across different parts of the city. Compared to the national median property tax rate of 0.99%, Latta's property tax rates may offer some relief to homeowners, though the exact rate can vary depending on specific property assessments and local fiscal policies.
Average Latta Tax Bill
$251
Average Marlboro County Tax Bill
$278
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Latta, Marlboro County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29565 | $170 | $179 | $251 | $569 | $957 |
Source: Ownwell