Whitmire, South Carolina Property Taxes
The median property tax rate in Whitmire, SC is 1.16%, higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With a median home value of $33,700 in Whitmire, the typical annual property tax bill is $431, which is below the national median of $2,690. Property taxes in Whitmire are calculated based on the assessed value, which often falls below market value due to exemptions like the primary residence and agricultural exemptions. Understanding Whitmire'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 Whitmire 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
Whitmire, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$391
Ownwell’s Whitmire Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Whitmire with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whitmire 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 Whitmire, South Carolina
Property taxes in Whitmire, 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 Whitmire is 1.16%, higher than the U.S. national median of 0.99%. Local government entities within Whitmire set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitmire 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 Whitmire's effective property tax rate to other areas and the national median. For comparison, the zip code 29178 has both the highest and lowest median property tax rate of 1.16%. Understanding how these areas compare with Whitmire provides valuable insights into the varying tax landscape across Newberry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Whitmire Tax Rate
1.16%
Average Newberry County Tax Rate
0.76%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Whitmire, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29178 | 0.33% | 0.74% | 1.16% | 2.78% | 2.82% |
Source: Ownwell
Property Tax Assessment Values Across Whitmire, South Carolina
In Whitmire, 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 Newberry County Assessor 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 Whitmire, 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 Whitmire helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Whitmire is $33,700, with median tax bills ranging from $183 at the 25th percentile to $1,130 at the 90th percentile. The highest and lowest median tax bills are both $431 in the 29178 zip code.
Property Tax Assessment Values Across Whitmire, South Carolina
Source: Ownwell
$33,700
$211,000
$388,300
Average Whitmire Assessed Value
$33,700
Average Newberry County Assessed Value
$69,300
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Whitmire, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29178 | $3,200 | $15,550 | $33,700 | $65,850 | $105,070 |
Source: Ownwell
Property Tax Bills Across Whitmire, South Carolina
In Whitmire, located in Newberry County, SC, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. With a median home price of $33,700, the property tax bill is determined by multiplying the assessed value by the local tax rate. Factors such as property location, improvements, and exemptions also influence the final tax bill. Homeowners in Whitmire experience a range of tax bills, with the 25th percentile paying around $183, while those in the 75th percentile pay approximately $735. The 90th percentile sees tax bills as high as $1,130. Compared to the national median property tax rate of 0.99%, Whitmire's property tax rates can present a significant financial consideration for homeowners. Understanding these factors helps homeowners plan and budget for their annual property tax obligations effectively.
Average Whitmire Tax Bill
$431
Average Newberry County Tax Bill
$768
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Whitmire, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29178 | $56 | $183 | $431 | $735 | $1,130 |
Source: Ownwell