Drayton, South Carolina Property Taxes
The median property tax rate in Drayton, SC is 1.29%, considerably higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Drayton, the typical annual property tax bill reaches $733, which is below the national median of $2,690. Property taxes in Drayton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Drayton'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 Drayton 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
Drayton, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$978
$907
Ownwell’s Drayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Drayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Drayton 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 Drayton, South Carolina
Property taxes in Drayton, 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 Drayton is 0.56%, significantly lower than the U.S. national median of 0.99%. Local government entities within Drayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Drayton 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 Drayton's effective property tax rate to other counties in South Carolina and the national median. For comparison, the highest median property tax rate in South Carolina is 0.56%, while the lowest median tax rate is also 0.56%. Understanding how these cities compare with Drayton 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 Drayton Tax Rate
1.29%
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 Drayton, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29333 | 0.22% | 0.48% | 1.29% | 2.18% | 2.36% |
Source: Ownwell
Property Tax Assessment Values Across Drayton, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Drayton, South Carolina. 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 Drayton, 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. The median home price in Drayton is $75,800, and the median tax bill ranges from $365 at the 25th percentile to $2,011 at the 90th percentile. The highest and lowest median tax bills, both $733, are found in the 29333 zip code. Being aware of these valuation processes in Drayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Drayton Assessed Value
$75,800
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 Drayton, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29333 | $17,600 | $46,875 | $75,800 | $98,425 | $118,900 |
Source: Ownwell
Property Tax Bills Across Drayton, South Carolina
In Drayton, SC, within Spartanburg County, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Drayton is $75,800. The local government applies the county's property tax rate to this assessed value to determine the annual tax bill. Factors such as property location, improvements, and exemptions can influence the assessed value and, consequently, the tax bill. For homeowners, the tax burden can vary significantly. The 25th percentile tax bill is $365, while the 75th percentile tax bill rises to $1,238, and the 90th percentile reaches $2,011. This range indicates that while some homeowners may pay relatively low property taxes, others could face much higher bills depending on their property's assessed value and eligibility for exemptions. Compared to the national median property tax rate of 0.99%, Drayton's tax bills show a wide variation, reflecting the diverse property values and tax rates within the region.
Average Drayton Tax Bill
$733
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 Drayton, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29333 | $170 | $365 | $733 | $1,238 | $2,011 |
Source: Ownwell