Tega Cay, South Carolina Property Taxes
The median property tax rate in Tega Cay, SC is 0.95%, which is slightly 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 Tega Cay at $275,000, the typical annual property tax bill amounts to $261, falling below the national median of $2,690. Property taxes in Tega Cay are calculated based on the tax assessed value, which often is less than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Tega Cay'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 Tega Cay 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
Tega Cay, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$261
Ownwell’s Tega Cay Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tega Cay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tega Cay 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 Tega Cay, South Carolina
Property taxes in Tega Cay, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tega Cay is 0.95%, which is lower than the U.S. national median of 0.99%. Local government entities within Tega Cay set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tega Cay 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 Tega Cay's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29708 zip code has the highest median property tax rate of 0.95%, while the same zip code also has the lowest median tax rate of 0.95%. Understanding how these cities compare with Tega Cay provides valuable insights into the varying tax landscape across York County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tega Cay Tax Rate
0.95%
Average York County Tax Rate
0.68%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tega Cay, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29708 | 0.95% | 0.95% | 0.95% | 1.90% | 3.61% |
Source: Ownwell
Property Tax Assessment Values Across Tega Cay, South Carolina
In Tega Cay, 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 York 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 Tega Cay, 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. For instance, the zip code 29708 has both the highest and lowest median tax bills at $261. Being aware of these valuation processes in Tega Cay helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Tega Cay, South Carolina
Source: Ownwell
$27,500
$189,436
$351,372
Average Tega Cay Assessed Value
$27,500
Average York County Assessed Value
$210,005
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tega Cay, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29708 | $6,350 | $15,125 | $27,500 | $37,500 | $42,000 |
Source: Ownwell
Property Tax Bills Across Tega Cay, South Carolina
In Tega Cay, located in York County, SC, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the property's market value, which is then subject to the local millage rate set by the county and other taxing authorities. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. For homeowners in Tega Cay, the property tax bill can vary significantly. The tax bill at the 25th percentile is $148, while at the 75th percentile, it rises to $356. At the 90th percentile, it can reach up to $399. Comparatively, the national median property tax rate is 0.99%, highlighting how local rates and property values in Tega Cay can differ from national figures. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Tega Cay Tax Bill
$261
Average York County Tax Bill
$1,529
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Tega Cay, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29708 | $74 | $148 | $261 | $356 | $399 |
Source: Ownwell