"We love Columbia because of the superb medical facilities, cultural activities, the beauty of the four seasons and the genuine friendliness of the people."Gary & Sharon Duncan, Frameworks Gifts & Interiors
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Taxes
2007 Residential Property Tax Rates:
Determination Of Taxes
The amount of real estate property taxes imposed is determined by two factors:
- the assessed value of their taxable property set by the local assessor; and
- the tax rate established by the governing bodies of local taxing entities where the property is located.
Assessed Value / 100 x Tax Rate = Tax Levied
$9,500/100 = 95.00 x $5.6600 = $537.70
Assessed Value
Assessed value is a percentage of the market value as determined by the assessor's office. In order to calculate the assessed value, multiply the market value (or appraised value) by the appropriate assessment rate for the type of property.
- Residential Property 19%
- Commercial Property 32%
- Agricultural Property 12%
Sales Tax:
Sales Tax in Columbia is 7.55% and includes the following:
- State Sales Tax: 4.225%
- County general revenue tax: 1.325%
- City general revenue tax: 2%
