HOME TAXES in Charleston
Learn About Home Taxes in the Charleston SC Area...
Your house is assessed for its tax value based on the sale price, and thereafter on its appraised value & then capped at 15%. Appraisal are performed about every 5-7 years. (This is not the same appraisal used to obtain a mortgage.) The last assessment was in 2015 based on figures from 2013.
For homeowners wanting to contest the appraisal on their home, here is what you should read first about tax appraisal. Tax Appraisal Objection to request for re-evaluation - objections/protest/appeals.
To figure out what your house taxes will be, use the above estimator or please follow the sample below.
SAMPLE TAX BILL - click
Use the millage card to the right to determine your mill rate.
There are certain discounts obtained by resident owners that can be deducted.
DEED STAMPS paid by the seller at closing is a transfer tax paid to the city, county and state government for transferring property to a new owner.
The tax formulation is different for each state, but is usually figured using the purchase price of the property to determine the amount of tax to be paid. 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. If the consideration is $100,000, the transfer tax is $370, and 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.
Click for a download of more information on Charleston Millage and Tax Charges
4% versus 6% Residency Rates
If you are full time resident, you can apply for a reduced rate on your tax bill. The 6% rate applies to all homes that are owned by investors, vacation homes, second homes, out-of-state owners, or those who have not applied. When you close a property, it will automatically assess at the 6% rate. Download an application here if you are a legal SC resident and this is your primary resident..
Example - in 2017:
$1,000,000 property in Mt Pleasant =
4% TAX $3,891
6% TAX $13,579