Pacolet, South Carolina Property Taxes
The median property tax rate in Pacolet, SC is 0.69%, notably lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With a median home value of $33,900 in Pacolet, the typical annual property tax bill is $226, significantly below the national median of $2,690. Property taxes in Pacolet are determined based on the tax assessed value, which often falls below market value due to various exemptions like primary residence and agricultural exemptions. Understanding Pacolet'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 Pacolet 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
Pacolet, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$234
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, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pacolet is 0.69%, 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 has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with Pacolet provides valuable insights into the varying tax landscape across Union County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pacolet Tax Rate
0.69%
Average Union County Tax Rate
1.59%
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 | 0.26% | 0.52% | 0.69% | 1.91% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Pacolet, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pacolet, 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 local 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. 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. In Pacolet, the zip code 29372 has the highest median tax bill at $226 and the lowest at $226, providing a unique insight into the uniformity of property tax assessments in the area.
Average Pacolet Assessed Value
$33,900
Average Union County Assessed Value
$24,000
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 | $4,000 | $7,750 | $33,900 | $92,200 | $137,790 |
Source: Ownwell
Property Tax Bills Across Pacolet, South Carolina
In Pacolet, located in Union County, SC, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The county uses a uniform assessment ratio to determine this value. Homeowners in Pacolet can expect their property tax bills to vary significantly depending on their property's assessed value. For instance, the 25th percentile tax bill is around $92, while the 75th percentile tax bill can reach up to $596. At the 90th percentile, tax bills can be as high as $973. The median home price in Pacolet is $33,900, which is relatively low compared to national averages. This lower market value contributes to the generally lower property tax bills. However, even within Pacolet, the highest and lowest median tax bills are both $226, indicating some consistency in tax rates across different properties. These factors combined affect how much homeowners will owe in property taxes, making it crucial for them to understand how their property is assessed and taxed.
Average Pacolet Tax Bill
$226
Average Union County Tax Bill
$195
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 | $54 | $92 | $226 | $596 | $973 |
Source: Ownwell