Bowman, South Carolina Property Taxes
The median property tax rate in Bowman, SC is 0.92%, slightly lower than the national median of 0.99% but higher than the South Carolina state median of 0.72%. With a median home value of $27,320 in Bowman, the typical annual property tax bill amounts to $408, which is significantly below the national median of $2,690. Property taxes in Bowman are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bowman'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 Bowman or another part of Orangeburg County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bowman, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$251
$233
Ownwell’s Bowman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bowman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bowman 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 Bowman, South Carolina
Property taxes in Bowman, South Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Bowman is 0.92%, which is slightly below the U.S. national median of 0.99%. Local government entities within Bowman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bowman 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 Bowman's effective property tax rate to other areas in South Carolina and the national median. For comparison, the zip code 29018 has both the highest and lowest median property tax rate of 0.92%. Understanding how these areas compare with Bowman provides valuable insights into the varying tax landscape across Orangeburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bowman Tax Rate
0.92%
Average Orangeburg County Tax Rate
0.81%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bowman, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29018 | 0.26% | 0.56% | 0.92% | 2.45% | 3.00% |
Source: Ownwell
Property Tax Assessment Values Across Bowman, South Carolina
In Bowman, 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 Orangeburg 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. Assessment notices in Bowman 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 Bowman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Bowman is $27,320, with the highest median tax bill found in zip code 29018 at $408.00.
Average Bowman Assessed Value
$27,320
Average Orangeburg County Assessed Value
$41,835
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bowman, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29018 | $3,000 | $7,192 | $27,320 | $80,125 | $161,002 |
Source: Ownwell
Property Tax Bills Across Bowman, South Carolina
Property tax bills in Bowman, located in Orangeburg County, SC, are calculated based on the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by local assessors. For homeowners in Bowman, the median home price is $27,320. The property tax rate in Orangeburg County is applied to the assessed value to determine the annual tax bill. For example, the tax bill at the 25th percentile is $167, while at the 75th percentile, it rises to $954. At the 90th percentile, homeowners can expect to pay around $1,552. These tax bills can significantly impact homeowners, especially considering the national median property tax rate is 0.99%. Understanding how these factors contribute to the overall tax bill is crucial for homeowners in managing their finances and planning for future expenses.
Average Bowman Tax Bill
$408
Average Orangeburg County Tax Bill
$620
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Bowman, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29018 | $86 | $167 | $408 | $954 | $1,552 |
Source: Ownwell