Example of Charleston County Property Tax Calculation
Charleston County calculates property tax based on the assessed value of a property. For example, if a property is assessed at $100,000, the property tax rate of 0.462% will be applied. This means that the property owner will owe $462 in property taxes for that year. To calculate the assessed value, the county assesses the property based on its fair market value and then applies the assessment ratio of 6%. This means that the assessed value of a $100,000 property would be $6,000. The county then applies the tax rate of 0.462% to that assessed value to determine the property tax owed. It's important to note that property values and tax rates can vary by location and year, so it's always important to check the latest information from Charleston County.
If you want appeal your property tax assessment - contact your local tax assessor.
Charleston County Property Tax Rates
Below is a table that lists the Charleston County Property Tax rates in US dollars per 100 dollars of assessed value:
| Tax Type | Rate per $100 Assessed Value |
|---|---|
| County Operating | $0.4920 |
| County Debt Service | $0.0610 |
| School Operating | $0.8432 |
| School Debt Service | $0.0816 |
| Special Purpose Fire | $0.0850 |
| Municipal Operating | Varies by municipality |
| Municipal Debt Service | Varies by municipality |
Note that the municipal operating and debt service tax rates vary by municipality within Charleston County.
Who sets property tax rates in Charleston County ?
Who sets property tax rates in Charleston County?
The Charleston County Council sets property tax rates in Charleston County.
When are property tax rates set in Charleston County?
Property tax rates in Charleston County are typically set annually during the budget approval process. The budget is typically approved in June for the fiscal year beginning on July 1st.
In addition to the County Council, the South Carolina state legislature also approves certain tax rates, such as those related to school districts.
It is important to note that property taxes are based on the assessed value of the property and are used to fund local government services, such as schools, police and fire departments, and infrastructure projects.
Homestead exemptions in Charleston County ?
To help homeowners in Charleston County, South Carolina, understand the different Homestead exemptions and deductions available to them, the following table includes all county-specific information:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Owner-occupied primary residence | $50,000 | Applied automatically, no application required |
| Over 65 or Disabled Exemption | Owner-occupied primary residence, 65 or older or disabled | Up to $50,000 | Must provide proof of age or disability |
| School Operating Exemption | Owner-occupied primary residence | $100,000 | Must have a child attending a Charleston County school |
| Military Exemption | Active-duty military, National Guard, or reservist | 100% exemption | Must provide proof of military service |
| Totally Disabled Veteran Exemption | Totally and permanently disabled veteran | Up to $50,000 | Must provide proof of disability and honorable discharge |
| Homestead Cap | Owner-occupied primary residence | Limits annual property tax increase to 15% | Applied automatically, no application required |
It's important to note that eligibility requirements and amounts may vary by county, so homeowners should always check with their local tax assessor's office for the most up-to-date information. Additionally, homeowners may be eligible for multiple exemptions and deductions, but only one exemption can be applied per property. By taking advantage of these Homestead exemptions and deductions, homeowners in Charleston County can save money on their property taxes and ease their financial burden.
When is Charleston County Property Tax due ?
Charleston County Property Tax typically has two due dates, with different payment methods available for each:
| Due Date | Payment Methods |
|---|---|
| January 15th | Online, by mail, in person at the tax collector's office |
| April 15th (late) | Online, by mail, in person at the tax collector's office, with penalties |
It's important to note that if the due date falls on a weekend or holiday, the payment is due on the next business day.
For the January 15th deadline, taxpayers can pay online through the Charleston County Treasurer's website or by mailing a check to the tax collector's office. Payments can also be made in person at the tax collector's office, located at 4045 Bridge View Drive, North Charleston, SC 29405.
If the January 15th deadline is missed, taxpayers have until April 15th to make a late payment. However, there will be penalties assessed for late payments. Taxpayers can still pay online or by mail, or in person at the tax collector's office.
In summary, Charleston County Property Tax typically has two due dates with multiple payment options available to taxpayers. It's important to pay attention to the due dates and to choose the payment method that works best for you.
If you have more questions - contact your local tax collector.
How is Charleston County Property Tax penalty calculated ?
Charleston County Property Tax Penalty Calculation
When a property owner fails to pay property taxes by the due date, a penalty will be applied to the overdue amount. The penalty is calculated according to South Carolina state law and can vary based on the length of time the taxes are overdue.
The property tax penalty is calculated as a percentage of the unpaid taxes. The penalty rate starts at 3% and increases by an additional 0.5% each month that the taxes remain unpaid, up to a maximum of 15%.
Here is an example to help illustrate the calculation:
Suppose a property owner owes $10,000 in property taxes and fails to pay them by the due date. After one month of non-payment, the penalty would be calculated as follows:
- 3% of the unpaid taxes ($10,000) = $300
Therefore, the total amount owed would be $10,300 ($10,000 in unpaid taxes plus $300 in penalties).
If the property owner still fails to pay after two months, the penalty would be recalculated as follows:
- 3% of the unpaid taxes ($10,000) = $300
- Additional 0.5% penalty for the second month ($10,000 x 0.005) = $50
Therefore, the total amount owed after two months would be $10,650 ($10,000 in unpaid taxes plus $300 in penalties for the first month plus $50 in penalties for the second month).
It's important to note that the penalty calculation can vary based on the specific circumstances of each case. For more information on the property tax penalty calculation in Charleston County, it's recommended to consult with a tax professional or contact the Charleston County Treasurer's Office.
We recommend contacting the Charleston County Tax Office or a local tax professional for the most up-to-date and accurate information.