Charlotte, South Carolina Property Taxes
The median property tax rate in Charlotte, SC is 1.98%, considerably higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Charlotte, the typical annual property tax bill reaches $313, which is lower than the national median of $2,690 due to the lower median home value. Property taxes in Charlotte are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Charlotte'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 Charlotte 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
Charlotte, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.98%
Estimate Property Tax Bill
$313
Ownwell’s Charlotte Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Charlotte with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Charlotte 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 Charlotte, South Carolina
Property taxes in Charlotte, South Carolina, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Charlotte is 1.98%, significantly higher than the U.S. national median of 0.99%. Local government entities within Charlotte set these rates annually, and they can vary across different neighborhoods. Each year, Charlotte 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 Charlotte's effective property tax rate to other counties in South Carolina and the national median. For comparison, the zip code 28277 has the highest median property tax rate of 1.98%, while the same zip code also has the lowest median tax rate of 1.98%. Understanding how these cities compare with Charlotte provides valuable insights into the varying tax landscape across Lancaster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charlotte Tax Rate
1.98%
Average Lancaster County Tax Rate
0.65%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charlotte, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28277 | 0.45% | 1.03% | 1.98% | 1.98% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Charlotte, South Carolina
In CHARLOTTE, 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 Lancaster 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 CHARLOTTE, 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. For example, the median home price in the area is $15,800, with tax bills ranging from $201 at the 25th percentile to $320 at the 90th percentile. The zip code 28277 has both the highest and lowest median tax bill at $313. 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 CHARLOTTE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Charlotte, South Carolina
Source: Ownwell
$15,800
$170,700
$325,600
Average Charlotte Assessed Value
$15,800
Average Lancaster County Assessed Value
$164,500
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charlotte, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28277 | $6,760 | $10,150 | $15,800 | $230,100 | $358,680 |
Source: Ownwell
Property Tax Bills Across Charlotte, South Carolina
In Charlotte, located in Lancaster County, SC, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor's office and typically represents a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Charlotte, the median home price is $15,800, and the property tax rate is compared to the national median of 0.99%. Several factors influence the final tax bill, including property location, improvements, and any applicable exemptions. Within Charlotte, tax bills can vary significantly, with the 25th percentile tax bill at $201 and the 75th percentile at $317. Additionally, the highest median tax bill in the area is $313, found in zip code 28277. These variations can have a notable impact on homeowners, affecting their monthly mortgage payments and overall financial planning. It’s crucial for homeowners to understand these factors to manage their property taxes effectively.
Average Charlotte Tax Bill
$313
Average Lancaster County Tax Bill
$1,306
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Charlotte, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28277 | $134 | $201 | $313 | $317 | $320 |
Source: Ownwell