Bradley, South Carolina Property Taxes
The median property tax rate in Bradley, SC is 1.26%, considerably higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Bradley, the typical annual property tax bill reaches $136, which is significantly lower than the national median of $2,690. Property taxes in Bradley 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 Bradley'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 Bradley 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
Bradley, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$139
$129
Ownwell’s Bradley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bradley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bradley 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 Bradley, South Carolina
Property taxes in Bradley, 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 Bradley is 1.26%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bradley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bradley 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 Bradley's effective property tax rate to other areas and the national median. For comparison, the 29819 zip code has the highest median property tax rate of 1.26%, while the same zip code also has the lowest median tax rate of 1.26%. Understanding how these areas compare with Bradley provides valuable insights into the varying tax landscape across McCormick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bradley Tax Rate
1.26%
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 Bradley, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29819 | 0.81% | 0.98% | 1.26% | 1.54% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Bradley, South Carolina
In Bradley, 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 McCormick 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 Bradley, 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 Bradley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $136, found in the zip code 29819.
Average Bradley Assessed Value
$11,000
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 Bradley, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29819 | $10,600 | $10,750 | $11,000 | $11,250 | $11,400 |
Source: Ownwell
Property Tax Bills Across Bradley, South Carolina
In Bradley, located in McCormick County, SC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is a percentage of the market value of the property. For instance, if the median home price in Bradley is $11,000, the assessed value would be a fraction of this amount, depending on local assessment ratios. Homeowners in Bradley can expect tax bills to vary significantly, with the 25th percentile tax bill being around $108, while the 75th percentile reaches $163, and the 90th percentile peaks at $180. These tax bills are influenced by various factors, including property improvements, neighborhood developments, and changes in local tax rates. In comparison to the national median property tax rate of 0.99%, Bradley's tax rates are relatively modest, reflecting the lower property values in the area. For homeowners, understanding these factors is crucial, as they directly impact annual financial planning and the overall cost of homeownership in Bradley.
Average Bradley Tax Bill
$136
Average Mccormick County Tax Bill
$213
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Bradley, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29819 | $91 | $108 | $136 | $163 | $180 |
Source: Ownwell