Clarks Hill, South Carolina Property Taxes
The median property tax rate in Clarks Hill, SC is 1.53%, 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 Clarks Hill, the typical annual property tax bill reaches $185, which is notably lower than the national median of $2,690. Property taxes in Clarks Hill are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Clarks Hill'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 Clarks Hill 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
Clarks Hill, 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 Clarks Hill Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Clarks Hill. With just two data points—your property's estimated assessed value and the local median tax rate—the calculator provides a quick and accurate estimate of your property tax bill. This essential tool helps you grasp potential tax liabilities, making financial planning easier. For those interested in more detailed trends, localized information is available below. Your property’s assessed value, determined by McCormick County, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Clarks Hill, South Carolina
Property taxes in Clarks Hill, 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 Clarks Hill is 1.53%, significantly higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Clarks Hill set these rates annually, and they can vary across different neighborhoods. Each year, Clarks Hill 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 Clarks Hill's effective property tax rate to other areas in South Carolina and the national median. For comparison, the zip code 29821 has the highest median property tax rate of 1.53%, while the same zip code also has the lowest median tax rate of 1.53%. Understanding how these figures compare with Clarks Hill 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 Clarks Hill Tax Rate
1.53%
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 Clarks Hill, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29821 | 0.30% | 0.81% | 1.53% | 2.31% | 3.92% |
Source: Ownwell
Property Tax Assessment Values Across Clarks Hill, South Carolina
In Clarks Hill, 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 Clarks Hill, 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 Clarks Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Clarks Hill are both $185.00, found in the zip code 29821.
Property Tax Assessment Values Across Clarks Hill, South Carolina
Source: Ownwell
$6,625
$50,813
$95,000
Average Clarks Hill Assessed Value
$17,330
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 Clarks Hill, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29821 | $2,510 | $7,525 | $17,330 | $37,730 | $59,850 |
Source: Ownwell
Property Tax Bills Across Clarks Hill, South Carolina
In Clarks Hill, SC, property tax bills are calculated based on the assessed value of a property, which is determined by the McCormick County Assessor's Office. The assessed value is a percentage of the property's market value. Homeowners in Clarks Hill experience a range of property tax bills, with the 25th percentile at $110 and the 75th percentile at $408. The highest median tax bill recorded in the area is $185 in zip code 29821, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's market value, local tax rates, and any applicable exemptions or deductions. For homeowners, this means that properties with higher assessed values or fewer exemptions will result in higher tax bills. Understanding these factors can help homeowners anticipate their property tax obligations and potentially seek exemptions to reduce their tax burden. The relatively low property tax rates in Clarks Hill can make homeownership more affordable compared to other regions.
Average Clarks Hill Tax Bill
$185
Average Mccormick County Tax Bill
$213
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarks Hill, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29821 | $80 | $110 | $185 | $408 | $763 |
Source: Ownwell