Wallace, Marlboro County, South Carolina Property Taxes
Median Wallace, SC effective property tax rate: 0.95%, significantly lower than the national median of 1.02%, but higher than the South Carolina state median of 0.72%.
Median Wallace, SC home value: $24,999
Median annual Wallace, SC tax bill: $272, $2,128 lower than the national median property tax bill of $2,400.
How are property taxes in Marlboro calculated?
Property taxes in Wallace, 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 Wallace’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wallace, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Wallace, Marlboro County, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.88%
Estimate Property Tax Bill
$261
$242
Property Tax Rates Across Wallace, Marlboro County, South Carolina
Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation occurs because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the core process each year.
In Wallace, located in Marlboro County, South Carolina, the effective property tax rate reflects the county's fiscal needs and property values. Compared to other cities in South Carolina, Wallace's tax rate is consistent with the median rate of 0.95% for the state. This is slightly below the national median property tax rate of 1.02%. Residents of Wallace benefit from a property tax rate that aligns closely with the state median, providing a balanced approach to funding local services without exceeding national averages. Understanding these rates helps property owners anticipate their tax obligations and plan accordingly.
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 Wallace Tax Rate
0.88%
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 Marlboro County Tax Rate
0.81%
Median Effective South Carolina Tax Rate
0.66%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Wallace, Marlboro County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29596 | 0.41% | 0.54% | 0.88% | 2.05% | 4.05% |
Source: Ownwell
Property Tax Assessment Values Across Wallace, Marlboro County, South Carolina
When examining property taxes in Wallace, SC, 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 Marlboro 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.
In Marlboro 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 Wallace. For example, the median home price in Wallace is $24,999, with tax bills ranging significantly across the county. 29596 has the highest median home price at $24,999.
Property Tax Assessment Values Across Wallace, Marlboro County, South Carolina
Source: Ownwell
$29,228
$53,834
$78,440
Median Wallace Market Value
$29,672
Median Marlboro County Market Value
$34,535
Median South Carolina Market Value
$188,850
Median United States Market Value
$235,294
Property Tax Assessment Values Across Wallace, Marlboro County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29596 | $3,322 | $8,686 | $29,672 | $67,400 | $116,460 |
Source: Ownwell
Property Tax Bills Across Wallace, Marlboro County, South Carolina
Median Wallace Tax Bill
$308
Median Marlboro County Tax Bill
$323
Median South Carolina Tax Bill
$1,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Wallace, Marlboro County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29596 | $49 | $185 | $308 | $555 | $836 |
Source: Ownwell