Ridge Spring, South Carolina Property Taxes
The median property tax rate in Ridge Spring, SC is 1.04%, slightly higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Ridge Spring, the typical annual property tax bill reaches $665, which is well below the national median of $2,690. Property taxes in Ridge Spring are calculated based on the tax assessed value, generally lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Ridge Spring'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 Ridge Spring or another part of Saluda County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ridge Spring, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$518
$481
Ownwell’s Ridge Spring Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ridge Spring with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ridge Spring 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 Ridge Spring, South Carolina
Property taxes in Ridge Spring, 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 Ridge Spring is 1.04%, higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Ridge Spring set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ridge Spring 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 Ridge Spring's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29129 zip code has both the highest and lowest median property tax rate of 1.04%. Understanding how these cities compare with Ridge Spring 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 Ridge Spring Tax Rate
1.04%
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 Ridge Spring, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29129 | 0.34% | 0.74% | 1.04% | 2.44% | 2.45% |
Source: Ownwell
Property Tax Assessment Values Across Ridge Spring, South Carolina
In Ridge Spring, 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 Saluda County 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. Assessment notices in Ridge Spring 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. For instance, the median home price in Ridge Spring is $49,800, with tax bills ranging from $313 at the 25th percentile to $1,917 at the 90th percentile. The zip code 29129 has both the highest and lowest median tax bill of $665. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Ridge Spring, South Carolina
Source: Ownwell
$47,650
$123,125
$198,600
Average Ridge Spring Assessed Value
$49,800
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 Ridge Spring, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29129 | $10,800 | $30,850 | $49,800 | $92,950 | $192,700 |
Source: Ownwell
Property Tax Bills Across Ridge Spring, South Carolina
In Ridge Spring, Saluda County, SC, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Ridge Spring is $49,800. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's location within the county, local tax rates, and any applicable exemptions or deductions. For homeowners in Ridge Spring, the 25th percentile of tax bills is $313, while the 75th percentile reaches $1,151. At the 90th percentile, tax bills can go up to $1,917. The highest median tax bill recorded in the area is $665, which is consistent across the zip code 29129. Comparatively, the national median property tax rate is 0.99%, making Ridge Spring's tax rates relatively moderate. This impacts homeowners by influencing their annual financial obligations and potentially affecting property values and marketability.
Average Ridge Spring Tax Bill
$665
Average Saluda County Tax Bill
$641
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Ridge Spring, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29129 | $99 | $313 | $665 | $1,151 | $1,917 |
Source: Ownwell