Whitmire, South Carolina Property Taxes
The median property tax rate in Whitmire, SC is 1.96%, 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 Whitmire at $11,850, the typical annual property tax bill reaches $112, which is significantly lower than the national median of $2,690. Property taxes in Whitmire 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 Whitmire'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 Whitmire 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
Whitmire, 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 Whitmire Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Whitmire with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whitmire 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 Whitmire, South Carolina
Property taxes in Whitmire, 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 Whitmire is 1.96%, significantly higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Whitmire set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitmire 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 Whitmire's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29178 has the highest median property tax rate of 1.96%, while the same zip code also has the lowest median tax rate of 1.96%. Understanding how these cities compare with Whitmire 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 Whitmire Tax Rate
1.96%
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 Whitmire, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29178 | 0.30% | 0.72% | 1.96% | 1.98% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Whitmire, South Carolina
In Whitmire, 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 Union 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 Whitmire, 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. With the median home price in Whitmire at $11,850, tax bills can vary significantly, from the 25th percentile at $79 to the 90th percentile at $531. Being aware of these valuation processes in Whitmire helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Whitmire Assessed Value
$11,850
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 Whitmire, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29178 | $3,500 | $4,500 | $11,850 | $47,950 | $80,020 |
Source: Ownwell
Property Tax Bills Across Whitmire, South Carolina
In Whitmire, Union County, SC, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Whitmire stands at $11,850. Local tax authorities apply the county's property tax rate to this assessed value to determine the amount homeowners owe annually. The property tax rate in this region is crucial in calculating the final tax bill, which can vary significantly. For instance, homeowners in Whitmire experience a range of tax bills. At the 25th percentile, the tax bill is around $79, while at the 75th percentile, it rises to $289. The 90th percentile sees tax bills as high as $531. The highest and lowest median tax bills in the area are both $112, indicating a relatively stable tax environment. These property taxes fund essential local services, impacting the overall quality of life in Whitmire. Homeowners should be aware of these factors to manage their financial planning effectively.
Average Whitmire Tax Bill
$112
Average Union County Tax Bill
$195
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Whitmire, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29178 | $53 | $79 | $112 | $289 | $531 |
Source: Ownwell