Of the 3143 counties in the United States, Charleston County is ranked 1168th based on the median property tax amount. With one of the lowest median property rates, the SC property tax rate is only an average of 0.5 percent of properties assessed based on fair market value every year. On average, yearly Charleston County taxes are around 1.89 percent of annual income. This all applies to real property tax, which differs from how taxes are assessed on personal property tax for each state. 

Assessing Annual Property Tax

Annual property taxes paid by SC homeowners are based on assessed value and local tax rate. This percentage is referred to as an assessment ratio. The assessment ratio largely depends upon property type. For instance, 4 percent is applied to primary owner-occupied residences. However, a rate of 6 percent is applied for non-primary residences. Reappraisal of properties is required by local assessors within their jurisdiction. This must occur once every five years. In order for the proper assessment to be applied, a reappraisal must occur in order to determine full market value.

Charleston County Property Tax

Determining Charleston County property taxes owed is often a complicated process that can’t be narrowed down to a simplified tax rate. It is important to understand how South Carolina property taxes are calculated and why the owed amount may differ. This amount depends upon factors such as district and homeowner appraisal value.

How Are SC Property Taxes Calculated?

In order to determine the amount owed on your property taxes, begin with your home’s assessed value, municipality, and county mileage rate. A SC property tax calculator is a great help for this process. It quickly allows you to input information based on your home’s appraisal value, district, and other information. With this information, it provides an estimate of taxes owed.

Located in Charleston, SC, the people-focused team at Martin Freeman Group are here for your tax needs. They are experienced in providing you with information relating to SC property tax calculations, tips for saving, and helping you find the perfect home. Contact their office today!