Daniel Island, South Carolina Property Taxes
The median property tax rate in Daniel Island, SC is 0.64%, which is significantly lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Daniel Island at $725,700, the typical annual property tax bill reaches $5,070, far exceeding the national median of $2,690. Property taxes in Daniel Island 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 Daniel 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 Daniel Island 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
Daniel 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 Daniel Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Daniel Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Daniel 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 Daniel Island, South Carolina
Property taxes in Daniel Island, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Daniel Island is 0.64%, lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Daniel Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Daniel 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 Daniel Island's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29492 zip code has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these cities compare with Daniel Island 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 Daniel Island Tax Rate
0.64%
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 Daniel Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29492 | 0.51% | 0.58% | 0.64% | 0.65% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Daniel Island, South Carolina
In Daniel 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 Berkeley 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 Daniel 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 Daniel Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 29492 has the highest median tax bill of $5,070, which is also the lowest median tax bill in the area.
Property Tax Assessment Values Across Daniel Island, South Carolina
Source: Ownwell
$96,200
$2,413,900
$4,731,600
Average Daniel Island Assessed Value
$725,700
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 Daniel Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29492 | $259,400 | $459,700 | $725,700 | $1,195,250 | $1,794,700 |
Source: Ownwell
Property Tax Bills Across Daniel Island, South Carolina
Property tax bills in Daniel Island, part of Berkeley County, SC, are calculated based on the assessed value of a property, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. For instance, with a median home price of $725,700, homeowners can expect varying tax bills depending on their property's assessed value and applicable tax rates. Several factors influence the final tax bill, including the property's location within the county, any applicable exemptions, and the specific tax rates set by local taxing authorities. In Daniel Island, the tax bill for the 25th percentile is around $3,240, while homeowners in the 75th percentile pay approximately $8,385. Those in the 90th percentile see tax bills as high as $13,790. Compared to the national median property tax rate of 0.99%, Daniel Island's tax rates can result in significantly higher tax bills, impacting homeowners' annual expenses and financial planning.
Average Daniel Island Tax Bill
$5,070
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 Daniel Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29492 | $2,184 | $3,240 | $5,070 | $8,385 | $13,790 |
Source: Ownwell