Converse, South Carolina Property Taxes
The median property tax rate in Converse, SC, is 0.92%, slightly below the national median of 0.99% but above the South Carolina state median of 0.72%. With a median home value of $31,800 in Converse, the typical annual property tax bill is $358, which is significantly lower than the national median of $2,690. Property taxes in Converse are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Converse's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Converse 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
Converse, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$293
$271
Ownwell’s Converse Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Converse with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Converse 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 Converse, South Carolina
Property taxes in Converse, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Converse is 0.92%, which is lower than the U.S. national median of 0.99%. Local government entities within Converse set these rates annually, and they can vary significantly across different neighborhoods. Each year, Converse 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 Converse's effective property tax rate to other regions in South Carolina and the national median. For comparison, the zip code 29329 has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these areas compare with Converse 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 Converse Tax Rate
0.92%
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 Converse, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29329 | 0.22% | 0.55% | 0.92% | 2.11% | 2.50% |
Source: Ownwell
Property Tax Assessment Values Across Converse, South Carolina
In Converse, 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 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 Converse, 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. Converse has a median home price of $31,800, with tax bills ranging from $159 at the 25th percentile to $1,390 at the 90th percentile. The zip code 29329 has the highest and lowest median tax bill at $358. 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 Converse helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Converse Assessed Value
$31,800
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 Converse, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29329 | $6,900 | $16,100 | $31,800 | $72,750 | $89,450 |
Source: Ownwell
Property Tax Bills Across Converse, South Carolina
In Converse, SC, within Spartanburg County, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessment process typically involves determining the market value of a property, which is then multiplied by an assessment ratio set by the state. For residential properties, this ratio is usually around 4%. Once the assessed value is determined, it is multiplied by the local tax rate to calculate the annual tax bill. The median home price in Converse is $31,800, and the property tax rate can significantly impact homeowners. For instance, tax bills in Converse range from the 25th percentile at $159 to the 75th percentile at $646, with the 90th percentile reaching up to $1,390. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, homeowners in Converse may find their property tax bills relatively manageable, though they can vary widely depending on the property's assessed value and specific location within the county.
Average Converse Tax Bill
$358
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 Converse, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29329 | $74 | $159 | $358 | $646 | $1,390 |
Source: Ownwell