Reevesville, South Carolina Property Taxes
The median property tax rate in Reevesville, SC is 0.72%, aligning with the South Carolina state median but lower than the national median of 0.99%. With a median home value of $108,540 in Reevesville, the typical annual property tax bill amounts to $778, which is significantly below the national median of $2,690. Property taxes in Reevesville are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural use. Understanding Reevesville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in Reevesville or another part of Orangeburg County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Reevesville, 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 Reevesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reevesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reevesville 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 Reevesville, South Carolina
Property taxes in Reevesville, 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 Reevesville is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Reevesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reevesville 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 Reevesville's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29471 has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Reevesville 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 Reevesville Tax Rate
0.72%
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 Reevesville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29471 | 0.23% | 0.41% | 0.72% | 0.76% | 2.45% |
Source: Ownwell
Property Tax Assessment Values Across Reevesville, South Carolina
In Reevesville, 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 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 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 Reevesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Reevesville is $108,540, with the highest median tax bill recorded at $778 in the 29471 zip code.
Property Tax Assessment Values Across Reevesville, South Carolina
Source: Ownwell
$22,130
$128,775
$235,420
Average Reevesville Assessed Value
$108,540
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 Reevesville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29471 | $7,612 | $63,100 | $108,540 | $140,400 | $231,502 |
Source: Ownwell
Property Tax Bills Across Reevesville, South Carolina
In Reevesville, located in Orangeburg County, SC, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $108,540, homeowners can expect varying tax bills. The 25th percentile tax bill is around $497, while the 75th percentile reaches $1,135, and the 90th percentile can be as high as $1,767. The highest and lowest median tax bills in Reevesville are both $778, which aligns with the national median property tax rate of 0.99%. These property taxes fund essential community services such as schools, public safety, and infrastructure. For homeowners, understanding these factors is crucial as property taxes can significantly impact annual housing costs and overall affordability.
Average Reevesville Tax Bill
$778
Average Orangeburg County Tax Bill
$620
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Reevesville, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29471 | $234 | $497 | $778 | $1,135 | $1,767 |
Source: Ownwell