Seabrook Island, South Carolina Property Taxes
The median property tax rate in Seabrook Island, SC, is 1.18%, 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 Seabrook Island at $280,100, the typical annual property tax bill reaches $3,191, exceeding the national median of $2,690. Property taxes in Seabrook 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 Seabrook 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 Seabrook 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
Seabrook Island, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$3,305
Ownwell’s Seabrook Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seabrook Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seabrook 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 Seabrook Island, South Carolina
Property taxes in Seabrook Island, South Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seabrook Island is 1.18%, significantly higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Seabrook Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seabrook 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 Seabrook Island's effective property tax rate to other areas in South Carolina and the national median. For comparison, the zip code 29455 has the highest median property tax rate of 1.18%, while the same zip code also has the lowest median tax rate of 1.18%. Understanding how these areas compare with Seabrook Island 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 Seabrook Island Tax Rate
1.18%
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 Seabrook Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29455 | 0.81% | 1.08% | 1.18% | 1.39% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Seabrook Island, South Carolina
In SEABROOK 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 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 SEABROOK 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 SEABROOK ISLAND helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 29455 has the highest median tax bill at $3,191, which is consistent across all areas in SEABROOK ISLAND.
Property Tax Assessment Values Across Seabrook Island, South Carolina
Source: Ownwell
$2,700
$2,101,350
$4,200,000
Average Seabrook Island Assessed Value
$280,100
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 Seabrook Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29455 | $2,660 | $162,000 | $280,100 | $1,242,400 | $2,163,980 |
Source: Ownwell
Property Tax Bills Across Seabrook Island, South Carolina
In Seabrook Island, Charleston County, SC, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property type, location, and any applicable exemptions or abatements can influence the final amount. For homeowners in Seabrook Island, the tax burden varies significantly. The median home price is $280,100, and tax bills can range widely—from $2,181 at the 25th percentile to $16,774 at the 90th percentile. This variation highlights the impact of property value assessments and local tax rates on individual tax obligations. Compared to the national median property tax rate of 0.99%, Seabrook Island's tax bills can be relatively high, especially for homes in the higher value brackets. This can affect homeowners' budgets and long-term financial planning, making it essential to understand how property tax calculations work in their specific area.
Average Seabrook Island Tax Bill
$3,191
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 Seabrook Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29455 | $37 | $2,181 | $3,191 | $12,599 | $16,774 |
Source: Ownwell