Troy, Greenwood County, South Carolina Property Taxes
Median Troy, SC effective property tax rate: 1.70%, significantly higher than the national median of 1.02%, and higher than the South Carolina state median of 0.66%.
Median Troy, SC home value: $13,500
Median annual Troy, SC tax bill: $194, $2,206 lower than the national median property tax bill of $2,400.
How are property taxes in Greenwood County calculated?
Property taxes in Troy, 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 Troy's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Troy, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Troy, Greenwood County, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.7%
Estimate Property Tax Bill
$230
$213
Property Tax Rates Across Troy, Greenwood County, South Carolina
Local government entities determine tax rates, leading to significant variations within a state. This is because each county annually estimates the budget needed to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the essence of the annual process.
In Troy, located in Greenwood County, the effective property tax rate stands at 1.70%, which is notably higher than the national median property tax rate of 1.02%. This rate is consistent with the highest and lowest median tax rates in the county, indicating uniformity across the area. When compared to other cities in South Carolina, Troy's tax rate is among the highest, reflecting the county's higher-than-average rate within the state. Despite this, property owners in Troy benefit from the services funded by these taxes, which contribute to the community's overall well-being and infrastructure development. By understanding these dynamics, property owners can better navigate their tax responsibilities and make informed decisions.
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 Troy Tax Rate
1.70%
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 Greenwood County Tax Rate
2.01%
Median Effective South Carolina Tax Rate
0.66%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Troy, Greenwood County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29848 | 0.34% | 0.66% | 1.70% | 2.28% | 3.14% |
Source: Ownwell
Property Tax Assessment Values Across Troy, Greenwood County, South Carolina
When examining property taxes in Troy, 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 Greenwood 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 Greenwood 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 Troy. For example, the median home price in Troy is $13,500, with tax bills ranging significantly across the county. Zip code 29848 has the highest median home price at $13,500.
Property Tax Assessment Values Across Troy, Greenwood County, South Carolina
Source: Ownwell
$13,500
$30,800
$48,100
Median Troy Market Value
$13,500
Median Greenwood County Market Value
$20,000
Median South Carolina Market Value
$188,850
Median United States Market Value
$235,294
Property Tax Assessment Values Across Troy, Greenwood County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29848 | $2,000 | $5,422 | $13,500 | $54,000 | $112,000 |
Source: Ownwell
Property Tax Bills Across Troy, Greenwood County, South Carolina
Median Troy Tax Bill
$194
Median Greenwood County Tax Bill
$312
Median South Carolina Tax Bill
$1,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Troy, Greenwood County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29848 | $31 | $83 | $194 | $489 | $931 |
Source: Ownwell