Charleston, South Carolina Property Taxes
The median property tax rate in Charleston, SC is 0.52%, considerably lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Charleston at $300,400, the typical annual property tax bill reaches $1,790, which is significantly below the national median of $2,690. Property taxes in Charleston are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Charleston's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Charleston or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Charleston, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$1,562
Ownwell’s Charleston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Charleston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Charleston to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Charleston, South Carolina
Property taxes in Charleston, South Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Charleston is 0.52%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Charleston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charleston estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Charleston's effective property tax rate to other areas in Charleston County and the national median. For comparison, the 29438 zip code has the highest median property tax rate of 4.24%, while the 29412 zip code has the lowest median tax rate of 0.49%. Understanding how these areas compare with Charleston provides valuable insights into the varying tax landscape across Charleston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charleston Tax Rate
0.52%
Average Charleston County Tax Rate
0.53%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charleston, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29401 | 0.39% | 0.47% | 0.68% | 1.65% | 1.69% |
| 29403 | 0.30% | 0.46% | 0.73% | 1.43% | 1.69% |
| 29405 | N/A | N/A | N/A | N/A | N/A |
| 29406 | 0.47% | 0.59% | 1.25% | 2.37% | 3.63% |
| 29407 | 0.32% | 0.40% | 0.52% | 1.12% | 1.69% |
| 29409 | N/A | N/A | N/A | N/A | N/A |
| 29410 | 1.33% | 1.33% | 1.33% | 1.33% | 1.33% |
| 29412 | 0.34% | 0.41% | 0.49% | 1.09% | 1.65% |
| 29414 | 0.41% | 0.47% | 0.52% | 0.70% | 1.69% |
| 29415 | 1.54% | 1.54% | 1.54% | 1.54% | 1.54% |
| 29418 | 0.57% | 0.90% | 1.64% | 1.70% | 1.74% |
| 29420 | N/A | N/A | N/A | N/A | N/A |
| 29424 | N/A | N/A | N/A | N/A | N/A |
| 29425 | N/A | N/A | N/A | N/A | N/A |
| 29438 | 4.24% | 4.24% | 4.24% | 4.24% | 4.24% |
| 29439 | 0.52% | 0.79% | 1.23% | 1.68% | 1.94% |
| 29449 | 2.69% | 2.69% | 2.69% | 2.69% | 2.69% |
| 29455 | 0.64% | 1.23% | 1.81% | 1.88% | 2.16% |
| 29456 | N/A | N/A | N/A | N/A | N/A |
| 29487 | 1.69% | 1.69% | 1.69% | 1.69% | 1.69% |
| 29492 | 0.66% | 1.25% | 1.34% | 1.47% | 1.77% |
Source: Ownwell
Property Tax Assessment Values Across Charleston, South Carolina
In Charleston, South Carolina, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Charleston has a wide range of tax bills. For instance, the highest median tax bill is $55,754 in the 29410 zip code, while the lowest median tax bill is $114 in the 29438 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Charleston, South Carolina
Source: Ownwell
$2,700
$2,101,350
$4,200,000
Average Charleston Assessed Value
$300,400
Average Charleston County Assessed Value
$305,700
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charleston, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29401 | $319,800 | $525,500 | $863,800 | $1,551,300 | $2,523,700 |
| 29403 | $222,000 | $326,729 | $458,600 | $630,200 | $828,340 |
| 29405 | N/A | N/A | N/A | N/A | N/A |
| 29406 | $3,900 | $14,600 | $130,000 | $190,000 | $233,370 |
| 29407 | $135,000 | $213,300 | $294,700 | $392,200 | $530,500 |
| 29409 | N/A | N/A | N/A | N/A | N/A |
| 29410 | $4,200,000 | $4,200,000 | $4,200,000 | $4,200,000 | $4,200,000 |
| 29412 | $158,846 | $239,400 | $323,600 | $426,000 | $580,000 |
| 29414 | $153,500 | $217,000 | $268,000 | $330,700 | $405,000 |
| 29415 | $42,600 | $42,600 | $42,600 | $42,600 | $42,600 |
| 29418 | $18,200 | $95,100 | $165,000 | $265,000 | $545,917 |
| 29420 | N/A | N/A | N/A | N/A | N/A |
| 29424 | N/A | N/A | N/A | N/A | N/A |
| 29425 | N/A | N/A | N/A | N/A | N/A |
| 29438 | $2,700 | $2,700 | $2,700 | $2,700 | $2,700 |
| 29439 | $579,300 | $585,750 | $596,500 | $607,250 | $613,700 |
| 29449 | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 |
| 29455 | $1,840 | $10,125 | $32,600 | $78,475 | $171,500 |
| 29456 | N/A | N/A | N/A | N/A | N/A |
| 29487 | $7,400 | $7,400 | $7,400 | $7,400 | $7,400 |
| 29492 | $60,800 | $80,000 | $96,700 | $101,700 | $107,400 |
Source: Ownwell
Property Tax Bills Across Charleston, South Carolina
In Charleston, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate, known as the millage rate, is then applied to this assessed value. Homeowners in Charleston see a significant range in their tax bills, influenced by their property's assessed value and the specific millage rate of their area. The median home price in Charleston is $300,400, leading to varying tax bills across different percentiles. For instance, the 25th percentile tax bill stands at $1,173, while the 75th percentile reaches $3,305. At the 90th percentile, homeowners might pay as much as $6,272. Interestingly, the highest median tax bill in Charleston hits a staggering $55,754 in the 29410 zip code, whereas the lowest is just $114 in the 29438 zip code. These variations highlight how property taxes can significantly impact homeowners, with those in higher-valued homes or areas with higher millage rates facing steeper tax bills. This underscores the importance of understanding local property tax calculations and their implications on personal finances.
Average Charleston Tax Bill
$1,790
Average Charleston County Tax Bill
$1,751
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Charleston, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29401 | $2,548 | $4,157 | $7,447 | $12,567 | $23,144 |
| 29403 | $1,058 | $1,866 | $3,407 | $6,294 | $10,203 |
| 29405 | N/A | N/A | N/A | N/A | N/A |
| 29406 | $149 | $265 | $944 | $1,485 | $2,818 |
| 29407 | $689 | $1,104 | $1,716 | $2,801 | $4,778 |
| 29409 | N/A | N/A | N/A | N/A | N/A |
| 29410 | $55,754 | $55,754 | $55,754 | $55,754 | $55,754 |
| 29412 | $875 | $1,218 | $1,812 | $2,975 | $4,820 |
| 29414 | $864 | $1,175 | $1,557 | $2,183 | $3,681 |
| 29415 | $657 | $657 | $657 | $657 | $657 |
| 29418 | $257 | $429 | $1,124 | $2,850 | $6,337 |
| 29420 | N/A | N/A | N/A | N/A | N/A |
| 29424 | N/A | N/A | N/A | N/A | N/A |
| 29425 | N/A | N/A | N/A | N/A | N/A |
| 29438 | $114 | $114 | $114 | $114 | $114 |
| 29439 | $3,132 | $4,641 | $7,156 | $9,670 | $11,179 |
| 29449 | $148 | $148 | $148 | $148 | $148 |
| 29455 | $84 | $226 | $366 | $1,163 | $2,480 |
| 29456 | N/A | N/A | N/A | N/A | N/A |
| 29487 | $125 | $125 | $125 | $125 | $125 |
| 29492 | $415 | $641 | $1,272 | $1,581 | $1,613 |
Source: Ownwell