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Property tax rate in Charleston County: Moving and Buying a home in Charleston, SC

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Our taxes are some of the lowest in the country . The Tax Foundation found that people in South Carolina ranked #6 inpaying the least in property taxes across the country.

South Carolina Department of Revenue: Moving to South Carolina - A Tax Guide for New Residents
Visit SCTax.org for your Tax Guide and Estate Tax guide. As of January 2014, South Carolina does not collect State Estate taxes or Inheritance Taxes. This needs to be verified with the Department of Revenue periodically as policies are subject to change.

Comparables: If you would like recent comps for your property in order to evaluate your tax bill, please give me a call. Most people do not question property tax assessment, but in different parts of the country 30-60% of the time the assessment is incorrect.

***Assessment Ratios

The following class specific percentages are used to determine the assessed value of the property for purposes of taxation:

Primary Residences: 4.0% of fair market value
Agricultural Property (privately owned): 4.0% of use value
Agricultural Property (corporate owned:) 6.0% of use value
Other real estate (such as second homes, investment property etc): 6.0% of fair market value

Example of $1,000,000 for Primary residence at 4%

Based on Primary Residence located in Downtown Charleston. Millage rate varies from municaplity to municipality.

Charleston County Tax Estimator

APPRAISED VALUE       $1,000,000
ASSESSMENT RATIO (PRIMARY HOME RESIDENCE) χ       .04
ASSESSED VALUE       40,000
COMBINED MILLAGE        x .2634
   
TOTAL PROPERTY TAX BEFORE EXEMPTIONS   $10,536.80
CHARLESTON COUNTY TAX CREDIT:   -860.00
   COUNTY TAX CREDIT  χ  TAXABLE APPRAISED VALUE  
(.00086 x 1,200,000)        
CITY OF CHARLESTON TAX CREDIT:     -770.00
  CITY TAX CREDIT  χ  TAXABLE APPRAISED VALUE  
(.00077 x 1,200,000)        
*PROPERTY TAX RELIEF(PTR) - primary only     -3944.0
 ASSESSED VALUE  χ  PTR MILLAGE      
(72,000 x .0986)        
TOTAL TAX         4962.80
SOLID WASTE RECYCLING AND DISPOSAL FEE + storm   +135.00
TOTAL AMOUNT DUE       $5,097.80

 

Example at 1,000,000 for Secondary residence at 6%

Based on a Residence located in Downtown Charleston. Millage rate varies from municaplity to municipality.

APPRAISED VALUE       $1,000,000
ASSESSMENT RATIO (SECOND HOME RESIDENCE) χ       .06
ASSESSED VALUE       60,000
COMBINED MILLAGE        x .2634
(FOR CITY OF CHARLESTON AND COUNTYWIDE)  
TOTAL PROPERTY TAX BEFORE EXEMPTIONS   $15,804.80
CHARLESTON COUNTY TAX CREDIT:   -860.00
   COUNTY TAX CREDIT  χ  TAXABLE APPRAISED VALUE  
(.00086 x 1,200,000)        
CITY OF CHARLESTON TAX CREDIT:     -770.00
  CITY TAX CREDIT  χ  TAXABLE APPRAISED VALUE  
(.00077 x 1,200,000)        
*PROPERTY TAX RELIEF(PTR) - primary only     -0.0
 ASSESSED VALUE  χ  PTR MILLAGE      
(72,000 x .0986)        
TOTAL TAX         14,174.00
SOLID WASTE RECYCLING AND DISPOSAL FEE + storm   +135.00
TOTAL AMOUNT DUE       $14,309.00

Frequently asked questions

Berkeley County Taxes

Berkeley County Tax Estimator

2015-2016 MILL RATES - click here

Deed Stamps In South Carolina, the formula for the transfer tax, mostly referred to as deed stamps is $1.85 per $500 of consideration; this is the combined amount for city, county and state taxes. Example:

$100,000 sale: $100,000/$500= 200 x $1.85= $370 total

The transfer tax of $370 is paid directly to the County Register of Deeds by the closing attorney. Transfer taxes are paid at the recording of the deed only, but property taxes are paid every year by the owner of the property.

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Tax Objection:

For homeowners wanting to contest the appraisal on their home. Here is what you should read first about tax appraisal. 2014_Tax Appraisal Objection to request for re-evaluation form.

* Property Tax Credits are applied in Charleston and Berkeley Counties.

**Always check with your county assessor as other charges may apply

*** Tax Auditor's office 843-958-4200

In addition, homeowners at age 65 are exempt from property tax on the first $50,000 of the value of their legal residence, once they apply for the Homestead Exemption at their local county auditor’s office. And property taxes for homeowners are generally low in South Carolina, as legal residences are exempt from the property tax that funds public school operations.

Kiplinger's Top 10 ranking shows South Carolina at 9 beating out Florida!

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