Edisto Island, South Carolina Property Taxes
The median property tax rate in Edisto Island, SC is 0.71%, which is lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With a median home value of $252,000 in Edisto Island, the typical annual property tax bill amounts to $1,831, significantly below the national median of $2,690. Property taxes in Edisto Island are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Edisto Island's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Edisto Island or another part of Charleston County, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Edisto 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 Edisto Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edisto Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edisto 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Edisto Island, South Carolina
Property taxes in Edisto Island, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edisto Island is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Edisto Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edisto 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 Edisto Island's effective property tax rate to other areas in Charleston County and the national median. For comparison, the zip code 29438 has both the highest and lowest median property tax rate of 0.71%. Understanding how these areas compare with Edisto 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 Edisto Island Tax Rate
0.71%
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 Edisto Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29438 | 0.45% | 0.48% | 0.71% | 1.66% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Edisto Island, South Carolina
In Edisto 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 Assessor's Office 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 Edisto 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. By understanding the distinction between 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 in Edisto Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Edisto Island is $252,000, with the highest and lowest median tax bills both at $1,831 in the 29438 zip code.
Property Tax Assessment Values Across Edisto Island, South Carolina
Source: Ownwell
$2,700
$2,101,350
$4,200,000
Average Edisto Island Assessed Value
$252,000
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 Edisto Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29438 | $10,690 | $90,000 | $252,000 | $510,375 | $791,870 |
Source: Ownwell
Property Tax Bills Across Edisto Island, South Carolina
In Edisto Island, Charleston County, SC, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. For homeowners, several factors influence this calculation, including the market value of the property and any applicable exemptions or deductions. The median home price in Edisto Island is $252,000. Homeowners can expect a wide range of property tax bills, with the 25th percentile at $748 and the 75th percentile at $3,716. The 90th percentile sees even higher bills, reaching up to $8,474. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. Homeowners in Edisto Island should be aware of these figures as they plan their finances, considering that property taxes can significantly impact annual expenses.
Average Edisto Island Tax Bill
$1,831
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 Edisto Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29438 | $222 | $748 | $1,831 | $3,716 | $8,474 |
Source: Ownwell