Spartanburg, South Carolina Property Taxes
The median property tax rate in Spartanburg, SC is 1.30%, 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 Spartanburg, the typical annual property tax bill reaches $398, which is significantly lower than the national median of $2,690. Property taxes in Spartanburg 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 Spartanburg'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 Spartanburg 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
Spartanburg, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$541
Ownwell’s Spartanburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spartanburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spartanburg 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 Spartanburg, South Carolina
Property taxes in Spartanburg, 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 Spartanburg is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Spartanburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spartanburg 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 Spartanburg's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29302 has a median property tax rate of 0.72%, which is consistent across Spartanburg. Understanding how these cities compare with Spartanburg 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 Spartanburg Tax Rate
1.30%
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 Spartanburg, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29302 | 0.81% | 0.99% | 1.30% | 1.60% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Spartanburg, South Carolina
In Spartanburg, 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 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 Spartanburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $398 in the 29302 zip code, while the lowest is also $398 in the same zip code.
Property Tax Assessment Values Across Spartanburg, South Carolina
Source: Ownwell
$4,000
$29,000
$54,000
Average Spartanburg Assessed Value
$41,650
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 Spartanburg, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29302 | $23,050 | $30,025 | $41,650 | $53,275 | $60,250 |
Source: Ownwell
Property Tax Bills Across Spartanburg, South Carolina
In Spartanburg, SC, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor, who evaluates the property's market value and then applies an assessment ratio. In Spartanburg, the median home price is $41,650, and the property tax rate is applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For instance, homeowners in Spartanburg can expect tax bills ranging from $374 at the 25th percentile to $436 at the 90th percentile. The highest median tax bill in the area is $398, specifically in the 29302 zip code. Compared to the national median property tax rate of 0.99%, Spartanburg's property tax rate provides a relatively affordable option for homeowners. Understanding how these factors come together helps homeowners anticipate their annual property tax obligations and budget accordingly.
Average Spartanburg Tax Bill
$398
Average Union County Tax Bill
$195
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Spartanburg, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29302 | $360 | $374 | $398 | $422 | $436 |
Source: Ownwell