Ravenel, South Carolina Property Taxes
The median property tax rate in Ravenel, SC is 0.68%, lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Ravenel at $126,100, the typical annual property tax bill is $916, which is significantly below the national median of $2,690. Property taxes in Ravenel are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ravenel'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 Ravenel or another part of Charleston County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ravenel, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$857
Ownwell’s Ravenel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ravenel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ravenel 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 Ravenel, South Carolina
Property taxes in Ravenel, South Carolina, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Ravenel is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Ravenel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ravenel 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 Ravenel's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 29470 has both the highest and lowest median property tax rate of 0.68%. Understanding how these areas compare with Ravenel 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 Ravenel Tax Rate
0.68%
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 Ravenel, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29470 | 0.39% | 0.46% | 0.68% | 1.83% | 2.71% |
Source: Ownwell
Property Tax Assessment Values Across Ravenel, South Carolina
In Ravenel, 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 Ravenel, 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. With a median home price of $126,100, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $251, while the 75th percentile tax bill reaches $2,079. 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 in Ravenel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Ravenel, South Carolina
Source: Ownwell
$2,700
$2,101,350
$4,200,000
Average Ravenel Assessed Value
$126,100
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 Ravenel, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29470 | $5,900 | $16,875 | $126,100 | $381,481 | $545,000 |
Source: Ownwell
Property Tax Bills Across Ravenel, South Carolina
In Ravenel, property tax bills are calculated based on the assessed value of a home, which is determined by the Charleston County Assessor's Office. The assessed value is a percentage of the market value of the property. Various factors such as the property's location, size, and condition are considered to arrive at this value. Once the assessed value is established, the local tax rate is applied to determine the tax bill. For homeowners in Ravenel, the median home price stands at $126,100. Property tax bills can vary significantly, with the 25th percentile tax bill being $251 and the 75th percentile reaching $2,079. At the 90th percentile, the tax bill can go up to $3,206. These variations can impact homeowners differently, depending on their property's assessed value and the applicable tax rate. Comparatively, the median property tax rate in Ravenel is lower than the national median of 0.99%, making it relatively more affordable for homeowners in this region. This financial aspect can be a crucial consideration for current and prospective homeowners.
Average Ravenel Tax Bill
$916
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 Ravenel, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29470 | $150 | $251 | $916 | $2,079 | $3,206 |
Source: Ownwell