Charleston, South Carolina Property Taxes
The median property tax rate in Charleston, SC is 0.55%, considerably lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Charleston at $386,900, the typical annual property tax bill reaches $2,107, which is below the national median of $2,690. Property taxes in Charleston are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Charleston'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 Charleston 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
Charleston, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$2,128
Ownwell’s Charleston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Charleston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Charleston 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 Charleston, South Carolina
Property taxes in Charleston, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Charleston is 0.55%, which is lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Charleston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charleston 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 Charleston's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29406 zip code has the highest median property tax rate of 1.36%, while the 29492 zip code has the lowest median tax rate of 0.54%. Understanding how these cities compare with Charleston 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 Charleston 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 Charleston, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29406 | 1.36% | 1.36% | 1.36% | 1.36% | 1.36% |
| 29492 | 0.36% | 0.40% | 0.54% | 0.66% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Charleston, South Carolina
In Charleston, 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 Charleston, 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 zip code with the highest median tax bill is 29406, where the median tax bill is $8,962, while the lowest median tax bill is found in zip code 29492, with a median bill of $2,106. 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 Charleston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Charleston, South Carolina
Source: Ownwell
$96,200
$2,413,900
$4,731,600
Average Charleston Assessed Value
$386,900
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 Charleston, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29406 | $660,900 | $660,900 | $660,900 | $660,900 | $660,900 |
| 29492 | $186,950 | $260,675 | $386,750 | $569,275 | $894,460 |
Source: Ownwell
Property Tax Bills Across Charleston, South Carolina
In Charleston, located in Berkeley County, SC, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, which is determined by the county assessor's office. Various factors influence this assessed value, including the home's location, size, and condition. Homeowners in Charleston can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is $1,464, while the 75th percentile reaches $3,828, and the 90th percentile climbs to $6,873. Comparing these figures to the national median property tax rate of 0.99%, Charleston's rates can be seen as relatively moderate or high, depending on the specific property. The highest median tax bill in the area is $8,962, found in the 29406 zip code, whereas the lowest median tax bill is $2,106 in the 29492 zip code. These taxes directly impact homeowners by influencing their monthly mortgage payments and overall housing affordability.
Average Charleston Tax Bill
$2,107
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 Charleston, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29406 | $8,962 | $8,962 | $8,962 | $8,962 | $8,962 |
| 29492 | $1,064 | $1,464 | $2,106 | $3,827 | $6,862 |
Source: Ownwell