Lake City, Clarendon County, South Carolina Property Taxes
Median Lake City, SC effective property tax rate: 1.56%, significantly higher than the national median of 1.02%, but lower than the South Carolina state median of 0.72%. Median Lake City, SC home value: $29,750. Median annual Lake City, SC tax bill: $320, $2,080 lower than the national median property tax bill of $2,400.
How are property taxes in Clarendon calculated?
Property taxes in Lake City, 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 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 March 1, 2025
Lake City, Clarendon County, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.56%
Estimate Property Tax Bill
$464
$431
Property Tax Rates Across Lake City, Clarendon County, South Carolina
Local government entities set tax rates, which can vary widely within a state. 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.
In Lake City, located in Clarendon County, the property tax rate stands at 1.56%, which is notably higher than the national median of 1.02%. This rate reflects the county's financial requirements and the total assessed value of properties within its borders. When compared to the national median property tax bill of $2,400, the tax implications for property owners in Lake City can be significant. Understanding these rates is crucial for property owners looking to manage their tax liabilities effectively.
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
1.56%
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 Clarendon County Tax Rate
1.84%
Median Effective South Carolina Tax Rate
0.72%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake City, Clarendon County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29560 | 0.60% | 0.73% | 1.56% | 2.33% | 2.84% |
Source: Ownwell
Property Tax Assessment Values Across Lake City, Clarendon County, South Carolina
When examining property taxes in Lake City, 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 Clarendon 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 Clarendon County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Lake City.
For example, the median home price in Lake City is $29,750, with tax bills ranging significantly across the county. Zip code 29560 has the highest median home price at $29,750.
Property Tax Assessment Values Across Lake City, Clarendon County, South Carolina
Source: Ownwell
$19,450
$27,825
$36,200
Median Lake City Market Value
$29,750
Median Clarendon County Market Value
$32,100
Median South Carolina Market Value
$140,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake City, Clarendon County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29560 | $5,970 | $9,725 | $29,750 | $57,300 | $107,440 |
Source: Ownwell
Property Tax Bills Across Lake City, Clarendon County, South Carolina
Median Lake City Tax Bill
$320
Median Clarendon County Tax Bill
$360
Median South Carolina Tax Bill
$1,086
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake City, Clarendon County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29560 | $123 | $167 | $320 | $675 | $1,053 |
Source: Ownwell
