Yonges Island, South Carolina Property Taxes
The median property tax rate in Yonges Island, SC is 3.32%, 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 Yonges Island at $365,000, the typical annual property tax bill reaches $12,178, far exceeding the national median of $2,690. Property taxes in Yonges 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 Yonges 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 Yonges 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
Yonges 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 Yonges Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yonges Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yonges 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 Yonges Island, South Carolina
Property taxes in Yonges 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 Yonges Island is 3.32%, significantly higher than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Yonges Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yonges 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 Yonges Island's effective property tax rate to other areas in Charleston County and the national median. For comparison, the 29487 zip code has the highest median property tax rate of 3.63%, while the 29449 zip code has the lowest median tax rate of 3.00%. Understanding how these areas compare with Yonges 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 Yonges Island Tax Rate
3.32%
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 Yonges Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29449 | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
| 29487 | 3.63% | 3.63% | 3.63% | 3.63% | 3.63% |
Source: Ownwell
Property Tax Assessment Values Across Yonges Island, South Carolina
In Yonges 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 Yonges 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. The median home price in Yonges Island is $3,650, with tax bills ranging from $111 at the 25th percentile to $141 at the 90th percentile. The highest and lowest median tax bills are both $145, found in zip code 29487. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Yonges Island, South Carolina
Source: Ownwell
$2,700
$2,101,350
$4,200,000
Average Yonges Island Assessed Value
$3,650
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 Yonges Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29449 | $3,300 | $3,300 | $3,300 | $3,300 | $3,300 |
| 29487 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 |
Source: Ownwell
Property Tax Bills Across Yonges Island, South Carolina
In Yonges Island, Charleston County, SC, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor and typically reflects a percentage of the market value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Yonges Island, the median home price is $3,650, resulting in varying tax bills. For instance, the tax bill at the 25th percentile is $111, while at the 75th percentile, it is $134. The 90th percentile tax bill reaches $141. These values indicate that property taxes in this area are relatively low compared to the national median property tax rate of 0.99%. Such low property tax rates can be beneficial for homeowners, making it more affordable to maintain property ownership in this region. This financial advantage can contribute to higher home retention rates and potentially attract more residents to the area.
Average Yonges Island Tax Bill
$122
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 Yonges Island, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29449 | $99 | $99 | $99 | $99 | $99 |
| 29487 | $145 | $145 | $145 | $145 | $145 |
Source: Ownwell