County Taxes:
Residents of Charleston reside in the county of Charleston. County taxes are based on the use of the property. For example, if your property will be used as your primary residence then you will be taxed at 4% of the assessed value times the milage rate (which is set by local officials who are elected). Your total tax assessment will be reduced by additional deductions including school tax and homestead tax exemptions, if applicable.
If you purchase a vacant parcel of land or a property that will be used as a second home/vacation residence, then you will be taxed at 6% of the assessed value of the property times the milage rate. Vacation/Second homes and vacant parcels of land do not qualify for the homestead exemptions and don’t receive tax credits.
Here is the equation:
(Millage Rate* x Assessment Ratio** x Value***) – Tax Credits****
*set by local elected officials
**4% primary home; 6% rental, commercial, land, second home
***set by assessor and can be raised to the current sales
price (point of sale assessment)
****set by elected officials
I strongly encourage you check out the following Property
Tax Card example CLICK HERE and in addition, call Charleston County’s
Assessors office prior to purchasing a property as tax laws
are constantly changing. I also highly recommend you get a written
estimate from the tax assessor prior to closing:
843-958-4200 extension 4061.
Other useful websites pertaining to taxes:
Homestead Tax Exemption for Charleston County:
http://taxweb.charlestoncounty.org/Docs/Tax/Auditor/faqs.html
South Carolina Income Taxes:
Individual Income Taxes:
http://www.sctax.org/default.htm
South Carolina Dept of Revenue’s General Tax
Guide for New Residents:
Moving to South Carolina Guide
http://www.sctax.org/Publications/mov2sc.html
Retiree Tax Information:
If you plan on retiring in the near future or are a retiree,
please view following informational websites:
Social Security Retirement Planner:
http://www.ssa.gov/retire2/near.htm
South Carolina Dept. of Revenue Income Tax Frequently
Asked Questions for Retirees:
South Carolina Taxes for Retirees
Please visit my other website devoted to Charleston, SC Retirement
