Example of Edgefield County Property Tax Calculation
Edgefield County calculates property taxes based on the assessed value of the property. The assessed value is determined by the county assessor's office and is equal to a percentage of the property's fair market value. For example, if the fair market value of a property is $100,000 and the assessment rate is 4%, the assessed value would be $4,000.
To calculate the property tax, the assessed value is multiplied by the millage rate. The millage rate is set by the county council and is expressed in mills, which are equal to one-tenth of a cent. For example, if the millage rate is 120 mills, the property tax would be $480 ($4,000 x 0.12).
The property tax bill is generally due in two installments, with the first half due by January 15th and the second half due by June 15th. If the taxes are not paid by the due date, penalties and interest may be added to the bill.
It is important to note that property tax rates and assessment rates can vary depending on the location and type of property. Homeowners may be eligible for certain exemptions or deductions that can reduce their property tax bill.
If you want appeal your property tax assessment - contact your local tax assessor.
Edgefield County Property Tax Rates
The Edgefield County Property Tax rates for the year 2021 are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General Fund | $0.4247 |
| County Road and Bridge Fund | $0.1278 |
| School Operations | $0.6881 |
| Debt Service | $0.0250 |
| Capital Projects Sales Tax | $0.0000 |
| Municipalities | Varies by Location |
Please note that the municipal tax rates vary depending on the location within Edgefield County. It is recommended that you check with your specific municipality for their tax rate information.
Who sets property tax rates in Edgefield County ?
Who sets property tax rates in Edgefield County?
The Edgefield County Council sets the property tax rates in Edgefield County.
When are property tax rates set in Edgefield County?
Property tax rates in Edgefield County are typically set at the annual budget meeting, which takes place in June of each year. The county council reviews the budget and determines the amount of revenue needed to fund county services and operations. They then set the property tax rates accordingly.
How are property tax rates calculated in Edgefield County?
The property tax rate in Edgefield County is calculated based on the assessed value of the property. The assessed value is determined by the Edgefield County Assessor's Office, which evaluates the property's market value and applies the appropriate assessment ratio. The property tax rate is then multiplied by the assessed value to determine the property tax bill.
It is important to note that property tax rates in Edgefield County can vary depending on the location and classification of the property. For example, residential property may be taxed at a different rate than commercial or industrial property. The Edgefield County Council is responsible for setting these rates and ensuring they are equitable and in line with state and local laws.
Homestead exemptions in Edgefield County ?
For those who reside in Edgefield County, South Carolina, the Homestead exemption and deductions may have a significant impact on their property tax bill. To ensure that you're taking advantage of all applicable exemptions and deductions, check out the table below:
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead exemption | Must be a legal resident of South Carolina, own and occupy the property as a primary residence | Up to $50,000 | Reduces the taxable value of the property |
| Tier 1 School Operating Millage | Must be 65 years or older, blind or permanently disabled, and have an annual income of $15,000 or less | Up to $50,000 | Reduces the taxable value of the property |
| Tier 2 School Operating Millage | Must be 65 years or older, blind or permanently disabled, and have an annual income of $15,000 or less | Up to $100,000 | Reduces the taxable value of the property |
| Agricultural Use | Property must be used for agriculture purposes and meet specific criteria | Varies | Reduces the taxable value of the property |
| Military Service | Must have served on active duty in the armed forces during a period of war or while engaged in hostilities | Varies | Reduces the taxable value of the property |
| Disability | Must be permanently and totally disabled | Varies | Reduces the taxable value of the property |
| Over 65/Disabled Veterans | Must be 65 years or older, or permanently and totally disabled as a result of military service | Up to $50,000 | Reduces the taxable value of the property |
It's important to note that these exemptions and deductions may change over time, so it's essential to check with the Edgefield County Auditor's Office regularly to ensure you're taking advantage of all available benefits. By doing so, you may be able to reduce your property tax bill and save money in the long run.
When is Edgefield County Property Tax due ?
Edgefield County Property Tax Due Date and Payment Methods
Property taxes in Edgefield County are typically due on January 15th of each year. However, if the 15th falls on a weekend or holiday, the due date will be the next business day. Property owners should receive their tax bill in the mail by the first week of October.
There are several payment methods available to property owners in Edgefield County. They can pay their property taxes by:
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Mail: Property owners can mail a check or money order along with the payment stub to the Edgefield County Treasurer's Office.
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In person: Property owners can make a payment in person at the Edgefield County Treasurer's Office located at 124 Courthouse Square, Edgefield, SC 29824.
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Online: Property owners can pay their property taxes online through the Edgefield County Treasurer's website using a credit card or e-check.
It's important to note that if property owners do not pay their property taxes by the due date, they will incur penalties and interest charges. Therefore, it is recommended that property owners make their payments on time to avoid any additional fees.
In summary, Edgefield County property taxes are typically due on January 15th, and property owners can pay their taxes through mail, in person, or online.
If you have more questions - contact your local tax collector.
How is Edgefield County Property Tax penalty calculated ?
Edgefield County Property Tax penalty is calculated based on a specific formula. The penalty rate is based on the total amount of tax owed and the number of days the payment is late.
The following table shows the penalty rate for the first five months after the due date:
| Timeframe | Penalty Rate |
|---|---|
| 1st month | 3% |
| 2nd month | 6% |
| 3rd month | 9% |
| 4th month | 12% |
| 5th month | 15% |
For example, if the property tax bill is $1,000 and the payment is 10 days late, the penalty for the first month would be:
$1,000 x 0.03 = $30
If the payment is 60 days late, the penalty for the second month would be:
$1,000 x 0.06 = $60
It is important to note that the penalty will continue to increase each month until it reaches the maximum of 15%. Therefore, it is crucial to make payments on time to avoid extra fees. If there are any questions about Edgefield County Property Tax penalty or payment, individuals should contact the county treasurer's office.
We recommend contacting the Edgefield County Tax Office or a local tax professional for the most up-to-date and accurate information.