Hanahan, Charleston County, South Carolina Property Taxes
The median property tax rate in Hanahan, SC is 1.07%, which is notably higher than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Hanahan, the typical annual property tax bill reaches $777, which is below the national median of $2,690. Property taxes in Hanahan are calculated based on the tax assessed value, which usually falls below 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 significant annual savings. Whether you're in the heart of Hanahan 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
Hanahan, Charleston County, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$1,070
$993
Ownwell’s Hanahan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner 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 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 Hanahan, Charleston County, South Carolina
Property taxes in Hanahan, South Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hanahan is 1.07%, higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Hanahan set these rates annually, and they can vary significantly 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 South Carolina and the national median. For comparison, the zip code 29410 has both the highest and lowest median property tax rate of 1.07%. Understanding how these cities compare with Hanahan provides valuable insights into the varying tax landscape across Charleston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hanahan Tax Rate
1.07%
Average Charleston County Tax Rate
0.53%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hanahan, Charleston County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29410 | 0.26% | 0.47% | 1.07% | 1.94% | 3.19% |
Source: Ownwell
Property Tax Assessment Values Across Hanahan, Charleston County, 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 Charleston 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. For instance, the median home price in Hanahan is $100,000, with tax bills ranging from $451 at the 25th percentile to $2,014 at the 90th percentile. Both the highest and lowest median tax bills in the area are $777, specifically in the zip code 29410. 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.
Property Tax Assessment Values Across Hanahan, Charleston County, South Carolina
Source: Ownwell
$25,350
$890,900
$1,756,450
Average Hanahan Assessed Value
$100,000
Average Charleston County Assessed Value
$305,700
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hanahan, Charleston County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29410 | $68,070 | $85,600 | $100,000 | $132,725 | $150,320 |
Source: Ownwell
Property Tax Bills Across Hanahan, Charleston County, South Carolina
In Hanahan, located in Charleston County, SC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and typically represents a percentage of the property's market value. This value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property improvements, location, and market conditions can influence the assessed value, thereby affecting the tax bill. For instance, in Hanahan, the median home price is $100,000. Homeowners in the 25th percentile can expect to pay around $451 annually, while those in the 75th percentile might see a tax bill of approximately $1,430. The 90th percentile tax bill can go up to $2,014. These property taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting the quality of life in Hanahan. Compared to the national median property tax rate of 0.99%, homeowners in Hanahan experience a relatively moderate tax burden.
Property Tax Bills Across Hanahan, Charleston County, South Carolina
Source: Ownwell
$366
$5,731
$11,095
Average Hanahan Tax Bill
$777
Average Charleston County Tax Bill
$1,751
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Hanahan, Charleston County, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29410 | $222 | $451 | $777 | $1,430 | $2,014 |
Source: Ownwell