Calhoun Falls, South Carolina Property Taxes
The median property tax rate in Calhoun Falls, SC is 1.51%, 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 Calhoun Falls at $7,000, the typical annual property tax bill reaches $105, which is significantly lower than the national median of $2,690. Property taxes in Calhoun Falls are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Calhoun Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Calhoun Falls or another part of McCormick County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Calhoun Falls, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$106
$98
Ownwell’s Calhoun Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Calhoun Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Calhoun Falls 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 Calhoun Falls, South Carolina
Property taxes in Calhoun Falls, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Calhoun Falls is 1.51%, significantly higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Calhoun Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Calhoun Falls 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 Calhoun Falls' effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29628 has the highest median property tax rate of 1.51%, while the same zip code also has the lowest median tax rate of 1.51%. Understanding how these areas compare with Calhoun Falls 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 Calhoun Falls Tax Rate
1.51%
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 Calhoun Falls, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29628 | 1.51% | 1.51% | 1.51% | 1.51% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Calhoun Falls, South Carolina
In Calhoun Falls, 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 Assessor's Office 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 Calhoun Falls, 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 Calhoun Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 29628 has both the highest and lowest median tax bill at $105, indicating a consistent property tax landscape across the area.
Property Tax Assessment Values Across Calhoun Falls, South Carolina
Source: Ownwell
$6,625
$50,813
$95,000
Average Calhoun Falls Assessed Value
$7,000
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 Calhoun Falls, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29628 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 |
Source: Ownwell
Property Tax Bills Across Calhoun Falls, South Carolina
In Calhoun Falls, 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 Calhoun Falls is $7,000, and property taxes are levied accordingly. The tax rate in McCormick County, where Calhoun Falls is located, influences the final tax bill. For example, the tax bill at the 25th, 75th, and 90th percentiles is consistently $105, indicating a relatively uniform tax burden across different property values in this region. Factors such as property characteristics, exemptions, and local tax rates are considered when determining the tax bill. Homeowners in Calhoun Falls benefit from a lower tax burden compared to the national median property tax rate of 0.99%. This lower tax rate can make homeownership more affordable, potentially increasing property values and attracting new residents. Understanding how property taxes are calculated helps homeowners budget effectively and take advantage of any available exemptions.
Average Calhoun Falls Tax Bill
$105
Average Mccormick County Tax Bill
$213
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Calhoun Falls, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29628 | $105 | $105 | $105 | $105 | $105 |
Source: Ownwell