Walterboro, Colleton County, South Carolina Property Taxes
Walterboro, SC's effective property tax rate stands at 1.00%, slightly lower than the national median of 1.02% and higher than the South Carolina state median of 0.66%. The median home value in Walterboro is $58,700. Homeowners in Walterboro face a median annual property tax bill of $585, significantly lower than the national median property tax bill of $2,400, with a difference of $1,815.
How are property taxes in Colleton County calculated?
Property taxes in Walterboro, SC are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Walterboro's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Walterboro, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Walterboro, Colleton County, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1%
Estimate Property Tax Bill
$587
$545
Property Tax Rates Across Walterboro, Colleton County, South Carolina
Local government entities are responsible for determining tax rates, which can significantly differ across various regions within a state. This variation is primarily due to each county's annual budget estimation to fund essential services. The budget is then divided by the total assessed value of all taxable properties within the county, resulting in the property tax rate. Although the process involves legislation and voting, this is the fundamental method used to establish tax rates each year.
In Walterboro, located in Colleton County, the effective property tax rate is comparable to other cities in South Carolina. The median property tax rate in South Carolina is slightly below the national median of 1.02%. Walterboro's rate aligns with the state's median, reflecting a consistent approach to property taxation within the state. Additionally, Colleton County has a lower tax rate compared to other counties in South Carolina, which can be an attractive factor for property owners seeking lower tax liabilities. By understanding these dynamics, property owners in Walterboro can better anticipate their tax obligations and explore opportunities for potential savings through appeals or exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Walterboro Tax Rate
1.00%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Colleton County Tax Rate
1.07%
Median Effective South Carolina Tax Rate
0.66%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Walterboro, Colleton County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29488 | 0.32% | 0.66% | 1.00% | 2.14% | 2.55% |
Source: Ownwell
Property Tax Assessment Values Across Walterboro, Colleton County, South Carolina
When examining property taxes in Walterboro, South Carolina, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Colleton County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Colleton County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Walterboro. For example, the median home price in Walterboro is $58,700, with tax bills ranging significantly across the county. Zip code 29488 has the highest median home price at $58,700.
Property Tax Assessment Values Across Walterboro, Colleton County, South Carolina
Source: Ownwell
$35,050
$235,000
$434,950
Median Walterboro Market Value
$58,700
Median Colleton County Market Value
$64,000
Median South Carolina Market Value
$188,850
Median United States Market Value
$235,294
Property Tax Assessment Values Across Walterboro, Colleton County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29488 | $10,000 | $21,000 | $58,700 | $131,200 | $226,590 |
Source: Ownwell
Property Tax Bills Across Walterboro, Colleton County, South Carolina
Property Tax Bills Across Walterboro, Colleton County, South Carolina
Source: Ownwell
$331
$3,206
$6,081
Median Walterboro Tax Bill
$585
Median Colleton County Tax Bill
$635
Median South Carolina Tax Bill
$1,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Walterboro, Colleton County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29488 | $100 | $242 | $585 | $1,275 | $2,179 |
Source: Ownwell