Edgefield, South Carolina Property Taxes
The median property tax rate in Edgefield, SC is 0.75%, which is lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Edgefield at $48,600, the typical annual property tax bill amounts to $296, significantly below the national median of $2,690. Property taxes in Edgefield 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 Edgefield'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 Edgefield 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
Edgefield, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$365
$338
Ownwell’s Edgefield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edgefield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edgefield 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 Edgefield, South Carolina
Property taxes in Edgefield, 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 Edgefield is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Edgefield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edgefield 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 Edgefield's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29824 has both the highest and lowest median property tax rates in the area, standing at 0.75%. Understanding how these cities compare with Edgefield provides valuable insights into the varying tax landscape across Saluda County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edgefield Tax Rate
0.75%
Average Saluda County Tax Rate
0.88%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edgefield, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29824 | 0.63% | 0.75% | 0.75% | 1.16% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Edgefield, South Carolina
In Edgefield, 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 county's 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 Edgefield, 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 Edgefield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $296 in the 29824 zip code, while the lowest is also $296 in the same zip code.
Property Tax Assessment Values Across Edgefield, South Carolina
Source: Ownwell
$47,650
$123,125
$198,600
Average Edgefield Assessed Value
$48,600
Average Saluda County Assessed Value
$64,000
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edgefield, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29824 | $13,860 | $24,150 | $48,600 | $50,950 | $128,430 |
Source: Ownwell
Property Tax Bills Across Edgefield, South Carolina
In Edgefield, SC, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. For example, with a median home price of $48,600, the assessed value is determined, and then the local tax rate is applied. Factors that influence the tax bill include the home's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Edgefield experience a range of property tax bills. At the 25th percentile, property tax bills are around $148, while at the 75th percentile, they rise to about $384. For those at the 90th percentile, tax bills can reach up to $1,281. The highest and lowest median tax bills in the area both stand at $296, specifically in the zip code 29824. These property tax bills impact homeowners by affecting their annual expenses. Understanding how these taxes are calculated can help homeowners anticipate their financial obligations and plan accordingly.
Average Edgefield Tax Bill
$296
Average Saluda County Tax Bill
$641
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Edgefield, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29824 | $127 | $148 | $296 | $384 | $1,281 |
Source: Ownwell