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Assessment Equity Analysis · May 2026
Columbia, SC — Effective Assessment Ratios
Are all properties assessed fairly relative to market value?
Methodology: arm's-length sales 2019–2024 only · Effective ratio = County assessed value ÷ Sale price · Fair system = 1.00× across all price bands
1.12×
Median effective ratio (all)
1.14×
Owner-occupied (4% ratio)
1.08×
Non-owner-occupied (6% ratio)
9,232
Arm's-length sales analyzed
50
Census tracts with data

Legend

Over-assessed (>1.2×)
Slightly over (1.0–1.2×)
Near-fair (0.9–1.0×)
Under-assessed (<0.9×)
Insufficient data

Most Over-Assessed Tracts

TractRatioMed. PriceSales IncomeNon-white
Census Tract 51.76×$72K95$24,11695%
Census Tract 11.56×$82K118$28,75088%
Census Tract 31.48×$79K162$37,22896%
Census Tract 1061.47×$93K137$32,74594%
Census Tract 104.141.41×$128K71$37,02881%
Census Tract 21.28×$120K120$58,08385%
Census Tract 1091.28×$65K74$14,333100%
Census Tract 1101.27×$83K110$53,22992%
Census Tract 104.121.27×$154K11$38,53382%
Census Tract 112.021.26×$245K27$59,24518%

Most Under-Assessed Tracts

TractRatioMed. PriceSales IncomeNon-white
Census Tract 108.041.00×$99K28$34,48596%
Census Tract 104.131.00×$130K62$47,19768%
Census Tract 301.00×$145K255$21,25027%
Census Tract 291.00×$292K68$52,34422%
Census Tract 119.011.00×$223K280$55,36288%
Census Tract 311.00×$265K185$21,29647%
Census Tract 104.031.00×$100K103$55,41958%
Census Tract 161.01×$264K178$59,39731%
Census Tract 91.03×$100K95$20,15698%
Census Tract 117.021.04×$220K25$39,70090%

Effective ratio by sale price decile

Assessed value vs. sale price (sample 2,000 sales)

The cheapest homes (bottom price decile) have a median ratio of 1.89× vs. 1.00× for the most expensive — a classic regressive pattern.

How to read this: An effective assessment ratio of 1.0× means the county's assessed value equals what the property sold for — a perfectly fair assessment. A ratio above 1.0 means the property is over-assessed (owner is paying taxes on more value than the market says the property is worth). A ratio below 1.0 means under-assessed.

Why it matters: When lower-value homes are systematically over-assessed relative to higher-value homes, lower-income homeowners pay a higher effective tax rate on their wealth. This is a form of regressive taxation that compounds with income inequality. Cook County, Illinois is the most-studied case nationally; similar patterns have been documented in Detroit, Philadelphia, and across the South.

Data: 9,232 arm's-length residential sales, 2019–2024, Richland County SCDOT parcel data. Excludes: non-arm's-length transfers (Qual_Code ≠ Q/A), vacant land, civic/exempt parcels, sales under $10,000.