Pacolet, South Carolina Property Taxes
The median property tax rate in Pacolet, SC is 0.79%, which is lower than the national median of 0.99% but higher than the South Carolina state median of 0.72%. With the median home value in Pacolet at $79,150, the typical annual property tax bill is approximately $735, well below the national median of $2,690. Property taxes in Pacolet are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Pacolet'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 Pacolet 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
Pacolet, South Carolina Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,440
Ownwell’s Pacolet Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pacolet with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pacolet 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 Pacolet, South Carolina
Property taxes in Pacolet, 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 Pacolet is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Pacolet set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pacolet 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 Pacolet's effective property tax rate to other areas in South Carolina and the national median. For comparison, the zip code 29372 in Pacolet has both the highest and lowest median property tax rate of 0.79%. Understanding how these figures compare with Pacolet 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 Pacolet Tax Rate
0.79%
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 Pacolet, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29372 | 0.27% | 0.48% | 0.79% | 1.59% | 2.63% |
Source: Ownwell
Property Tax Assessment Values Across Pacolet, South Carolina
In Pacolet, 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 Pacolet, 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 Pacolet helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Pacolet are both $735.00, found in the 29372 zip code.
Average Pacolet Assessed Value
$79,150
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 Pacolet, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29372 | $9,000 | $27,900 | $79,150 | $128,000 | $193,000 |
Source: Ownwell
Property Tax Bills Across Pacolet, South Carolina
In Pacolet, located in Spartanburg County, SC, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county's assessor. For example, a median home price in Pacolet is $79,150, and the tax rate is applied to this assessed value to calculate the tax bill. Several factors influence the property tax bill, including property size, location, and any applicable exemptions. Homeowners in Pacolet experience varying tax bills, with the 25th percentile paying around $338 annually, while those in the 75th percentile pay approximately $1,303. The highest median tax bill in Pacolet, recorded in the 29372 zip code, is $735. These property taxes significantly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Pacolet's tax rates and resulting bills provide a relative sense of affordability for its residents.
Average Pacolet Tax Bill
$735
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 Pacolet, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29372 | $119 | $338 | $735 | $1,303 | $1,991 |
Source: Ownwell