Gilbert, Lexington County, South Carolina Property Taxes
Median Gilbert, SC effective property tax rate: 0.57%, significantly lower than the national median of 1.02%, but lower than the South Carolina state median of 0.72%.
Median Gilbert, SC home value: $169,591
Median annual Gilbert, SC tax bill: $1,115, $1,285 lower than the national median property tax bill of $2,400.
How are property taxes in Lexington calculated?
Property taxes in Gilbert, 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 Gilbert’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Gilbert, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Gilbert, Lexington County, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.57%
Estimate Property Tax Bill
$967
$897
Property Tax Rates Across Gilbert, Lexington County, South Carolina
Local government entities set tax rates, which can vary widely within a state. 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.
In Gilbert, located in Lexington County, the property tax rate is quite distinct compared to other areas. With a median property tax rate of 0.57%, Gilbert stands out in South Carolina, where rates can fluctuate significantly from one city to another. This rate is notably lower than the national median property tax rate of 1.02%.
Such a favorable tax rate can make Gilbert an attractive option for property owners looking to minimize their tax burden. The lower tax rate can translate into considerable savings annually, especially when compared to more expensive regions. Understanding these differences can be crucial for potential buyers and current homeowners alike, as property taxes are a significant factor in the overall cost of homeownership.
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 Gilbert Tax Rate
0.57%
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 Lexington County Tax Rate
0.57%
Median Effective South Carolina Tax Rate
0.72%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Gilbert, Lexington County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29054 | 0.29% | 0.48% | 0.57% | 0.88% | 2.95% |
Source: Ownwell
Property Tax Assessment Values Across Gilbert, Lexington County, South Carolina
When examining property taxes in Gilbert, 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 Lexington 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 Lexington 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 Gilbert. For example, the median home price in Gilbert is $169,591, with tax bills ranging significantly across the county. The zip code 29054 has the highest median home price at $169,591.
Property Tax Assessment Values Across Gilbert, Lexington County, South Carolina
Source: Ownwell
$24,100
$146,458
$268,816
Median Gilbert Market Value
$169,591
Median Lexington County Market Value
$147,464
Median South Carolina Market Value
$140,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Gilbert, Lexington County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29054 | $22,506 | $68,067 | $169,591 | $287,008 | $423,208 |
Source: Ownwell
Property Tax Bills Across Gilbert, Lexington County, South Carolina
In Gilbert, located in Lexington County, SC, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence this calculation, including the home's location, size, and any applicable exemptions. Homeowners in Gilbert experience a range of tax bills, with the 25th percentile at $535 and the 75th percentile reaching $1,998. The highest median tax bill in the area is $1,115, which is below the national median property tax bill of $2,400.
For homeowners looking to reduce their property tax burden, Ownwell offers expert services to identify potential savings. By leveraging local knowledge and expertise, Ownwell can help homeowners in Gilbert appeal their property tax assessments and secure exemptions they may be eligible for. This tailored approach ensures homeowners pay only their fair share, potentially leading to significant savings on their annual property tax bills.
Median Gilbert Tax Bill
$1,115
Median Lexington County Tax Bill
$1,039
Median South Carolina Tax Bill
$1,086
Median United States Tax Bill
$2,400
Property Tax Bills Across Gilbert, Lexington County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29054 | $213 | $535 | $1,115 | $1,998 | $3,615 |
Source: Ownwell