Lake City, Florence County, South Carolina Property Taxes
Property Taxes in Lake City, South Carolina
Median Lake City, South Carolina effective property tax rate: 0.56%, significantly lower than the national median of 1.02%, and lower than the South Carolina state median of 0.66%.
Median Lake City, South Carolina home value: $87,021
Median annual Lake City, South Carolina tax bill: $566, $1,834 lower than the national median property tax bill of $2,400.
How are property taxes in Florence calculated?
Property taxes in Lake City, South Carolina 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 Lake City's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lake City, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Lake City, Florence County, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.56%
Estimate Property Tax Bill
$487
$452
How Does the Lake City Property Tax Calculator Work?
Use this Lake City property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Lake City's median effective tax rate of 0.56% — based on actual property records in Florence County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Lake City's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Lake City: rates range from 0.56% in 29560 to 0.56% in 29560, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Lake City.
About Lake City Property Taxes
About Property Taxes in Lake City, Florence, South Carolina
Lake City's median effective property tax rate of 0.56% is lower than the South Carolina state median of 0.66% and lower than the national median of 1.02%. This rate reflects the Florence County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Lake City. Homeowners in the 29560 ZIP code carry a median effective rate of 0.56%, while those in the same ZIP also pay 0.56%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Florence County. Understanding which part of Lake City you live in can make a meaningful difference to your annual tax bill.
Lake City homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the January 15, 2027 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Lake City, Florence County, South Carolina
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Lake City’s effective property tax rate to other cities in South Carolina and the median property tax rates in South Carolina and the U.S.
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 Lake City Tax Rate
0.56%
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 Florence County Tax Rate
0.41%
Median Effective South Carolina Tax Rate
0.66%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake City, Florence County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29560 | 0.18% | 0.28% | 0.56% | 2.21% | 2.43% |
Source: Ownwell
Property Tax Assessment Values Across Lake City, Florence County, South Carolina
When examining property taxes in Lake City, 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 Florence County appraisal district 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.
Assessment notices:
In Florence County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month.
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. For example, the median home price in Lake City is $87,021, with a median tax bill of $566. The highest median home price is in 29560 at $87,021.
Property Tax Assessment Values Across Lake City, Florence County, South Carolina
Source: Ownwell
$70,804
$131,139
$191,473
Median Lake City Market Value
$87,021
Median Florence County Market Value
$117,803
Median South Carolina Market Value
$188,850
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake City, Florence County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29560 | $23,236 | $51,851 | $87,021 | $139,468 | $225,125 |
Source: Ownwell
Property Tax Bills Across Lake City, Florence County, South Carolina
Property tax bills in Lake City are based on the assessed value of a home, not its market price alone. Local taxing authorities apply the tax rate to the assessed value, which helps determine the amount a homeowner owes each year. In Florence County, the median home price is $87,021, and the median tax bill is $566, which is well below the national median property tax bill of $2,400.
Several factors affect the final bill, including the home’s assessed value, local tax rates, and any exemptions that may apply. Homes with higher assessed values generally face larger tax bills, while lower-valued homes may owe less. In Lake City, tax bills can vary widely, with the 25th percentile at $275 and the 90th percentile at $1,905.
For homeowners, this means property taxes can have a meaningful impact on annual housing costs, especially when assessments increase.
Median Lake City Tax Bill
$566
Median Florence County Tax Bill
$583
Median South Carolina Tax Bill
$1,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake City, Florence County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29560 | $128 | $275 | $566 | $1,143 | $1,905 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | January 15 |
Links | |
|---|---|
| Florence Tax Assessor | |
| Website | www.qpublic.net |