Hanahan, South Carolina Property Taxes
The median property tax rate in Hanahan, SC is 0.55%, significantly lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With a median home value of $250,800 in Hanahan, the typical annual property tax bill amounts to $1,495, which is well below the national median of $2,690. Property taxes in Hanahan are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hanahan'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 Hanahan or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hanahan, 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 Hanahan Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hanahan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hanahan to estimate your property tax bill. This insightful tool provides a clear understanding of potential tax liabilities. For those interested in more granular details, additional localized information is available below. Your property’s assessed value is determined by Berkeley County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Hanahan, South Carolina
Property taxes in Hanahan, South Carolina, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Hanahan is 0.55%, considerably lower than the U.S. national median of 0.99%. Local government entities within Hanahan set these rates annually, and they can vary across different neighborhoods. Each year, Hanahan 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 Hanahan's effective property tax rate to other areas in Berkeley County and the national median. For comparison, the zip code 29410 in Hanahan has both the highest and lowest median property tax rate of 0.55%. Understanding how these areas compare with Hanahan provides valuable insights into the varying tax landscape across Berkeley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hanahan Tax Rate
0.55%
Average Berkeley County Tax Rate
0.55%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hanahan, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29410 | 0.39% | 0.49% | 0.55% | 0.61% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Hanahan, South Carolina
In Hanahan, 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 Berkeley 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 Hanahan, 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 Hanahan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 29410 has the highest and lowest median tax bill, both at $1,495.
Property Tax Assessment Values Across Hanahan, South Carolina
Source: Ownwell
$96,200
$2,413,900
$4,731,600
Average Hanahan Assessed Value
$250,800
Average Berkeley County Assessed Value
$231,300
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hanahan, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29410 | $125,800 | $186,000 | $250,800 | $320,400 | $412,000 |
Source: Ownwell
Property Tax Bills Across Hanahan, South Carolina
In Hanahan, Berkeley County, SC, 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 is then applied to this assessed value to determine the annual tax bill. Factors such as property improvements, changes in market conditions, and local government budgets can influence the assessed value and, consequently, the tax bill. For homeowners in Hanahan, the median home price stands at $250,800. Property tax bills vary significantly, with the 25th percentile at $1,053 and the 75th percentile at $2,257. The 90th percentile tax bill can reach up to $3,946. The median tax bill for the area is $1,495, which is lower than the national median property tax rate of 0.99%. This relatively lower tax burden can make Hanahan an attractive place for homeowners, offering a balance between property value and tax affordability. Understanding these factors helps homeowners anticipate their annual expenses and plan their finances accordingly.
Average Hanahan Tax Bill
$1,495
Average Berkeley County Tax Bill
$1,364
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Hanahan, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29410 | $711 | $1,053 | $1,495 | $2,257 | $3,946 |
Source: Ownwell