Arcadia, South Carolina Property Taxes
The median property tax rate in Arcadia, SC is 1.36%, significantly higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With a median home value of $52,400 in Arcadia, the typical annual property tax bill amounts to $527, which is considerably lower than the national median of $2,690. Property taxes in Arcadia are based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Arcadia's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Arcadia or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Arcadia, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$713
$661
Ownwell’s Arcadia Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers an easy way to estimate their annual property taxes in Arcadia. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Arcadia to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities, giving you a clearer financial picture. For those interested in more granular trends, you can scroll down to explore neighborhood-specific information. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions, ensuring you get the most accurate estimate possible.
Property Tax Rates Across Arcadia, South Carolina
Property taxes in Arcadia, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arcadia is 1.36%, significantly higher than the U.S. national median of 0.99%. Local government entities within Arcadia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arcadia 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 Arcadia's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29320 zip code has the highest median property tax rate of 1.36%, while the same zip code also has the lowest median tax rate of 1.36%. Understanding how these cities compare with Arcadia provides valuable insights into the varying tax landscape across Spartanburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arcadia Tax Rate
1.36%
Average Spartanburg County Tax Rate
0.63%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arcadia, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29320 | 0.22% | 0.56% | 1.36% | 1.91% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Arcadia, South Carolina
In Arcadia, 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 Spartanburg 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. In Arcadia, 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 Arcadia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Arcadia, the highest and lowest median tax bills are both $527, located in zip code 29320.
Average Arcadia Assessed Value
$52,400
Average Spartanburg County Assessed Value
$171,600
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arcadia, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29320 | $3,620 | $15,000 | $52,400 | $85,400 | $103,080 |
Source: Ownwell
Property Tax Bills Across Arcadia, South Carolina
In Arcadia, Spartanburg County, SC, property tax bills are calculated based on the assessed value of a home, which is determined by a percentage of the market value. The median home price in Arcadia is $52,400. Property tax rates and bills can vary significantly within the area. For instance, the tax bill at the 25th percentile is around $279, while at the 75th percentile, it rises to $1,081. The highest median tax bill in the region is $527, which is consistent across the zip code 29320. Several factors influence these tax bills, including the assessed property value, millage rates set by local taxing authorities, and any applicable exemptions or deductions. These taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding how these elements interact is crucial for financial planning. Compared to the national median property tax rate of 0.99%, Arcadia's tax rates and bills reflect the local economic conditions and public service needs.
Average Arcadia Tax Bill
$527
Average Spartanburg County Tax Bill
$1,309
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Arcadia, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29320 | $102 | $279 | $527 | $1,081 | $1,634 |
Source: Ownwell