Daufuskie Island, South Carolina Property Taxes
The median property tax rate in Daufuskie Island, SC is 1.85%, significantly higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Daufuskie Island at $357,100, the typical annual property tax bill reaches $5,002, far exceeding the national median of $2,690. Property taxes in Daufuskie Island 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 Daufuskie 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 Daufuskie Island or another part of Beaufort County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Daufuskie 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 Daufuskie Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Daufuskie Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Daufuskie 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 Daufuskie Island, South Carolina
Property taxes in Daufuskie Island, South Carolina, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Daufuskie Island is 1.85%, significantly higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Daufuskie Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Daufuskie 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 Daufuskie Island's effective property tax rate to other areas in South Carolina and the national median. For comparison, the 29915 zip code has the highest median property tax rate of 1.85%, while the same zip code also has the lowest median tax rate of 1.85%. Understanding how these figures compare with Daufuskie Island provides valuable insights into the varying tax landscape across Beaufort County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Daufuskie Island Tax Rate
1.85%
Average Beaufort County Tax Rate
0.82%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Daufuskie Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29915 | 0.65% | 0.76% | 1.85% | 1.96% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Daufuskie Island, South Carolina
In Daufuskie 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 Beaufort County Assessor 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 Daufuskie 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 Daufuskie Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $357,100, with the highest and lowest median tax bill recorded at $5,002 in the 29915 zip code.
Property Tax Assessment Values Across Daufuskie Island, South Carolina
Source: Ownwell
$24,200
$838,625
$1,653,050
Average Daufuskie Island Assessed Value
$357,100
Average Beaufort County Assessed Value
$278,200
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Daufuskie Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29915 | $78,000 | $200,000 | $357,100 | $559,100 | $867,860 |
Source: Ownwell
Property Tax Bills Across Daufuskie Island, South Carolina
In Daufuskie Island, located in Beaufort County, SC, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor and is a percentage of the property's market value. For homeowners, the median home price stands at $357,100. The tax rate is applied to this assessed value to determine the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. For instance, Beaufort County's tax bills range significantly, with the 25th percentile at $2,382 and the 75th percentile reaching $8,316. The 90th percentile can see tax bills as high as $13,533. Compared to the national median property tax rate of 0.99%, homeowners in Daufuskie Island may experience varying tax burdens based on their property's assessed value and specific local tax rates. This variability affects homeowners' financial planning and can influence decisions regarding property investments and homeownership.
Average Daufuskie Island Tax Bill
$5,002
Average Beaufort County Tax Bill
$2,400
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Daufuskie Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29915 | $836 | $2,382 | $5,002 | $8,316 | $13,533 |
Source: Ownwell