Mccormick County, South Carolina Property Taxes
The median property tax rate in McCormick County is 1.91%, which is 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 McCormick County, the typical annual property tax bill reaches $213, which is considerably lower than the national median of $2,690. Property taxes in McCormick 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 McCormick 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 McCormick or another part of McCormick County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mccormick County, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.91%
Estimate Property Tax Bill
$296
$275
Ownwell’s McCormick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in McCormick with just 2 data points. Enter your property's estimated assessed value, our calculator applies the median tax rate in McCormick 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 Mccormick County, South Carolina
Property taxes in McCormick County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in McCormick County is 1.91%, which is higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within McCormick County set these rates annually, and they can vary significantly between different areas within the county. Each year, McCormick 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. For comparison, the city of Mount Carmel has one of the higher property tax rates in South Carolina at 2.43%, while the city of Parksville boasts one of the lowest at 0.49%. Analyzing how McCormick County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Mccormick County Tax Rate
1.91%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mccormick County, South Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Abbeville | N/A | N/A | N/A | N/A | N/A |
| Bradley | N/A | N/A | N/A | N/A | N/A |
| Calhoun Falls | N/A | N/A | N/A | N/A | N/A |
| Clarks Hill | 0.30% | 0.81% | 1.53% | 2.31% | 3.92% |
| Mc Cormick | 0.32% | 0.70% | 1.38% | 2.55% | 4.19% |
| Modoc | 0.15% | 0.64% | 1.11% | 1.78% | 2.39% |
| Mount Carmel | 0.86% | 1.03% | 2.43% | 3.84% | 5.62% |
| Parksville | N/A | N/A | N/A | N/A | N/A |
| Plum Branch | 0.45% | 1.14% | 2.19% | 2.60% | 3.51% |
| Troy | 0.27% | 0.47% | 2.07% | 2.97% | 5.31% |
Source: Ownwell
Property Tax Assessment Values Across Mccormick County, South Carolina
In McCormick 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 McCormick 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 McCormick 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. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In McCormick County, the city of Modoc has the highest median tax bill at $564, while Calhoun Falls has the lowest at $105. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Mccormick County, South Carolina
Source: Ownwell
$6,625
$49,188
$91,750
Average Mccormick County Assessed Value
$15,500
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mccormick County, South Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Abbeville | N/A | N/A | N/A | N/A | N/A |
| Bradley | N/A | N/A | N/A | N/A | N/A |
| Calhoun Falls | N/A | N/A | N/A | N/A | N/A |
| Clarks Hill | $2,510 | $7,525 | $17,330 | $37,730 | $59,850 |
| Mc Cormick | $3,150 | $7,500 | $15,420 | $35,752 | $65,590 |
| Modoc | $13,349 | $42,500 | $91,750 | $128,520 | $172,608 |
| Mount Carmel | $1,500 | $2,500 | $6,625 | $13,275 | $43,810 |
| Parksville | N/A | N/A | N/A | N/A | N/A |
| Plum Branch | $4,000 | $7,850 | $16,400 | $28,000 | $50,012 |
| Troy | $1,688 | $3,250 | $22,000 | $27,200 | $74,580 |
Source: Ownwell
Property Tax Bills Across Mccormick County, South Carolina
In McCormick County, SC, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the market value of the home. Various factors, such as property size, location, and improvements, influence this assessed value. Homeowners in McCormick County experience a range of tax bills, with the 25th percentile at $118 and the 75th percentile at $404, while the 90th percentile reaches up to $715. Comparatively, the national median property tax rate is 0.99%, highlighting the relatively lower property tax burdens in McCormick County. The highest median tax bill in the county is seen in Modoc at $564, while Calhoun Falls has the lowest at $105. These tax bills directly impact homeowners by influencing their overall housing costs, potentially affecting affordability and long-term financial planning. Understanding these factors can help homeowners better anticipate their financial obligations related to property ownership.
Average Mccormick County Tax Bill
$213
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Mccormick County, South Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Abbeville | N/A | N/A | N/A | N/A | N/A |
| Bradley | N/A | N/A | N/A | N/A | N/A |
| Calhoun Falls | N/A | N/A | N/A | N/A | N/A |
| Clarks Hill | $80 | $110 | $185 | $408 | $763 |
| Mc Cormick | $80 | $100 | $185 | $347 | $620 |
| Modoc | $171 | $244 | $564 | $1,067 | $1,175 |
| Mount Carmel | $82 | $104 | $142 | $309 | $698 |
| Parksville | N/A | N/A | N/A | N/A | N/A |
| Plum Branch | $80 | $141 | $255 | $461 | $691 |
| Troy | $70 | $104 | $269 | $432 | $942 |
Source: Ownwell