Chesnee, South Carolina Property Taxes
The median property tax rate in Chesnee, SC is 0.59%, significantly lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With a median home value of $115,800 in Chesnee, the typical annual property tax bill comes to $1,022, which is below the national median of $2,690. Property taxes in Chesnee are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Chesnee'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 Chesnee or another part of Spartanburg County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chesnee, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$683
Ownwell’s Chesnee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chesnee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chesnee 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 Chesnee, South Carolina
Property taxes in Chesnee, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chesnee is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Chesnee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chesnee 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 Chesnee's effective property tax rate to other areas in Spartanburg County and the national median. For comparison, the zip code 29323 has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these areas compare with Chesnee 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 Chesnee Tax Rate
0.59%
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 Chesnee, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29323 | 0.30% | 0.46% | 0.59% | 0.96% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Chesnee, South Carolina
In Chesnee, 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 Assessor's Office 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 Chesnee, 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 Chesnee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 29323, with a median tax bill of $1,022.
Average Chesnee Assessed Value
$115,800
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 Chesnee, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29323 | $5,560 | $21,600 | $115,800 | $233,700 | $373,900 |
Source: Ownwell
Property Tax Bills Across Chesnee, South Carolina
In Chesnee, Spartanburg County, SC, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. For example, if the median home price is $115,800, the assessed value is determined by applying the local assessment ratio. This assessed value is then multiplied by the local property tax rate to calculate the tax bill. Several factors influence the final tax bill, including property location, home improvements, and exemptions. In Chesnee, the tax bills can vary significantly, with the 25th percentile tax bill at $438 and the 75th percentile at $1,755. The 90th percentile tax bill can go up to $2,835, reflecting the variation in property values and applicable exemptions. Homeowners in Chesnee should be aware that their property tax bills can significantly impact their annual expenses. Comparing these figures to the national median property tax rate of 0.99%, Chesnee's property taxes can be considered relatively moderate, although individual circumstances vary.
Average Chesnee Tax Bill
$1,022
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 Chesnee, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29323 | $151 | $438 | $1,022 | $1,755 | $2,835 |
Source: Ownwell