Liberty, South Carolina Property Taxes
The median property tax rate in Liberty, SC is 0.47%, considerably lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Liberty at $118,200, the typical annual property tax bill reaches $659, well below the national median of $2,690. Property taxes in Liberty 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 Liberty'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 Liberty 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
Liberty, 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 Liberty Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Liberty with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Liberty 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 Liberty, South Carolina
Property taxes in Liberty, 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 Liberty is 0.47%, which is lower than the U.S. national median of 0.99%. Local government entities within Liberty set these rates annually, and they can vary significantly across different neighborhoods. Each year, Liberty 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 Liberty's effective property tax rate to other regions in South Carolina and the national median. For comparison, the zip code 29657 has both the highest and lowest median property tax rate in the area, at 0.47%. Understanding how these areas compare with Liberty provides valuable insights into the varying tax landscape across Pickens County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Liberty Tax Rate
0.47%
Average Pickens County Tax Rate
0.47%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Liberty, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29657 | 0.29% | 0.46% | 0.47% | 0.64% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Liberty, South Carolina
In Liberty, 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 Pickens 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 Liberty, 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 Liberty helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Liberty is $118,200, with the highest median tax bill being $659 in the 29657 zip code. The tax bill for the 25th percentile is $426, while the 75th percentile is $994 and the 90th percentile is $1,626.
Average Liberty Assessed Value
$118,200
Average Pickens County Assessed Value
$142,700
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Liberty, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29657 | $39,000 | $73,100 | $118,200 | $162,400 | $215,440 |
Source: Ownwell
Property Tax Bills Across Liberty, South Carolina
In Liberty, SC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value typically represents a percentage of the property's market value. For instance, with a median home price of $118,200, the tax bill varies significantly. Homeowners in the 25th percentile can expect to pay around $426, while those in the 75th percentile might see bills closer to $994. At the 90th percentile, tax bills can reach up to $1,626. Several factors influence these amounts, including property location, local tax rates, and any applicable exemptions. It's interesting to note that in Pickens County, where Liberty is located, the highest and lowest median tax bills both stand at $659 in the 29657 zip code, reflecting some consistency within certain areas. Compared to the national median property tax rate of 0.99%, Liberty's rates offer insight into the local economic landscape, affecting homeowners' financial planning and overall cost of living.
Average Liberty Tax Bill
$659
Average Pickens County Tax Bill
$811
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Liberty, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29657 | $231 | $426 | $659 | $994 | $1,626 |
Source: Ownwell