29520 Property Tax Rate

Property owners in ZIP code 29520 (Cheraw, South Carolina) pay a median of $480/year in property taxes on homes valued at $98,600. This translates to an effective tax rate of 0.49%, which is 10% below the South Carolina state average of 0.54%.

The monthly property tax burden for a median-valued home in 29520 is approximately $40, which factors into escrow payments on mortgages. This ZIP code is located within Chesterfield County. This is $555 less than the South Carolina average of $1,035/year.

Compared to similar ZIP codes in South Carolina, 29520 has lower property taxes. ZIP codes with similar effective rates include 29680 (0.49%) and 29545 (0.49%).

In Cheraw, property taxes represent approximately 1.1% of the median household income of $41,786, providing context for the relative tax burden on homeowners in this area.

If you're considering purchasing a home in 29520, keep in mind that property taxes are based on the assessed value assigned by the local assessor, which may differ from the purchase price. In some states, properties are reassessed at or near the sale price upon transfer of ownership. For the most current tax information for a specific property, consult Chesterfield County's tax assessor directly.