29848 Property Tax Rate

Property owners in ZIP code 29848 (Troy, South Carolina) pay a median of $656/year in property taxes on homes valued at $161,700. This translates to an effective tax rate of 0.41%, which is 25% below the South Carolina state average of 0.54%.

The monthly property tax burden for a median-valued home in 29848 is approximately $55, which factors into escrow payments on mortgages. This ZIP code is located within McCormick County. This is $379 less than the South Carolina average of $1,035/year.

Compared to similar ZIP codes in South Carolina, 29848 has higher property taxes. ZIP codes with similar effective rates include 29643 (0.40%) and 29714 (0.40%).

In Troy, property taxes represent approximately 1.2% of the median household income of $56,250, providing context for the relative tax burden on homeowners in this area.

South Carolina has no reassessment cap; McCormick County will reassess your property at fair market value when you acquire it. McCormick County residents qualify for a $50,000 Homestead Exemption on owner-occupied primary residences — submit your application to the McCormick County Assessor right after closing to lower your taxable assessed base. Provide proof of primary occupancy with your exemption filing.