Dewees Island, South Carolina Property Taxes
The median property tax rate in Dewees Island, SC is 1.19%, considerably higher than both the national median of 0.99% and South Carolina's state median of 0.72%. With the median home value in Dewees Island at $805,000, the typical annual property tax bill reaches $6,453, exceeding the national median of $2,690. Property taxes in Dewees Island 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 Dewees Island'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 Dewees Island 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
Dewees Island, South Carolina Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,440
Ownwell’s Dewees Island Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Dewees Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dewees Island 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 Charleston County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Dewees Island, South Carolina
Property taxes in Dewees Island, South Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dewees Island is 0.5%, which is significantly lower than both the South Carolina state median of 0.5% and the U.S. national median of 0.99%. Local government entities within Dewees Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dewees Island 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 Dewees Island's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29451 zip code has the highest median property tax rate of 0.5%, while the 29451 zip code also has the lowest median tax rate of 0.5%. Understanding how these cities compare with Dewees Island 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 Dewees Island Tax Rate
1.19%
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 Dewees Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29451 | 0.21% | 0.23% | 1.19% | 1.20% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Dewees Island, South Carolina
In Dewees Island, 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 Charleston County 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. In Dewees Island, 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. The median home price in Dewees Island is $805,000, with tax bills ranging from $2,093 at the 25th percentile to $15,669 at the 90th percentile. The zip code 29451 has the highest median tax bill of $6,453. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. 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 Dewees Island, South Carolina
Source: Ownwell
$2,700
$2,101,350
$4,200,000
Average Dewees Island Assessed Value
$805,000
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 Dewees Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29451 | $428,800 | $560,000 | $805,000 | $1,210,000 | $1,508,400 |
Source: Ownwell
Property Tax Bills Across Dewees Island, South Carolina
In Dewees Island, Charleston County, SC, property tax bills are calculated based on the assessed value of the home, which is a percentage of the market value. The local tax rate is then applied to this assessed value to determine the final tax bill. For example, with a median home price of $805,000, the tax bill can vary significantly. Homeowners in the 25th percentile might see tax bills around $2,093, whereas those in the 75th percentile could face bills as high as $10,583. The 90th percentile tax bill reaches up to $15,669, highlighting the variability based on property value and location. Factors influencing these calculations include the property's assessed value, local tax rates, and any applicable exemptions or deductions. These tax bills can significantly impact homeowners, affecting overall affordability and long-term financial planning. Compared to the national median property tax rate of 0.99%, the rates in Dewees Island illustrate the importance of understanding local tax structures to manage financial expectations effectively.
Average Dewees Island Tax Bill
$6,453
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 Dewees Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29451 | $1,386 | $2,093 | $6,453 | $10,583 | $15,669 |
Source: Ownwell