Hollywood, South Carolina Property Taxes
The median property tax rate in Hollywood, SC is 0.59%, 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 Hollywood, the typical annual property tax bill reaches $1,192, well below the national median of $2,690. Property taxes in Hollywood 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 Hollywood'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 Hollywood 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
Hollywood, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$885
Ownwell’s Hollywood Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Hollywood, SC. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Hollywood to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making financial planning easier. For those interested in more detailed trends on a neighborhood level, additional localized information is available. Your property’s assessed value is determined by Charleston County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Hollywood, South Carolina
Property taxes in Hollywood, South Carolina, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Hollywood is 0.59%, which is lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Hollywood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hollywood 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 Hollywood's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29449 zip code has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these areas compare with Hollywood 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 Hollywood Tax Rate
0.59%
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 Hollywood, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29449 | 0.39% | 0.46% | 0.59% | 1.64% | 2.23% |
Source: Ownwell
Property Tax Assessment Values Across Hollywood, South Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hollywood, South Carolina. 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 Appraisal District 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 Hollywood, 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 Hollywood is $150,010, with tax bills ranging from $391 at the 25th percentile to $3,793 at the 90th percentile. The zip code with the highest and lowest median tax bill is 29449, both at $1,192. By understanding these valuation processes, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across Hollywood, South Carolina
Source: Ownwell
$2,700
$2,101,350
$4,200,000
Average Hollywood Assessed Value
$150,010
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 Hollywood, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29449 | $8,700 | $50,300 | $150,010 | $386,000 | $613,217 |
Source: Ownwell
Property Tax Bills Across Hollywood, South Carolina
In Hollywood, Charleston County, SC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For homeowners in Hollywood, the median home price stands at $150,010. Several factors influence the final tax bill, including local tax rates and any applicable exemptions. While the national median property tax rate is 0.99%, local rates can vary. In Hollywood, the tax bill for homeowners varies widely: at the 25th percentile, it's around $391, while at the 75th percentile, it reaches $2,256. The highest median tax bill in the area is $1,192, notably in the 29449 zip code. These tax bills significantly impact homeowners, influencing their annual budgets and long-term financial planning. Understanding how these taxes are calculated and what factors are considered can help homeowners better prepare for their financial obligations.
Average Hollywood Tax Bill
$1,192
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 Hollywood, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29449 | $158 | $391 | $1,192 | $2,256 | $3,793 |
Source: Ownwell