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Charleston Reporter

Thursday, October 17, 2024

Analysis: Charleston County effective property tax rates were lower than the national average in Q2 2023

Realestate1

Property owners in Charleston County paid 0.4% of the value of their homes in property taxes in the second quarter of 2023, which is less than 0.4 times the national average, according to the real estate analysis posted by Charleston Reporter.

The median sales price of a Charleston County home in the second quarter of 2023 was $456,000, based on data from the 1,597 properties sold during that time. In 2023, the median tax bill for the county was $1,961, which is 0.4% of the median value of the homes that were taxed.

This is 0.4 times lower than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Charleston County real estate data showed homeowners in Kiawah Island, Isle of Palms, and Wildwood paid the highest rates.

The above article calculates the effective property tax rate for 2023 using estimated inflation values and 2021 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

The following table compares Kiawah Island with some other cities belonging to Charleston County by their median effective property tax rate, calculated using sales and property tax data from the second quarter of 2023.

CityQ2 2023 SalesQ2 2023 Median PriceMedian tax 2023Effective tax rate
Kiawah Island25$950,000$10,6781.1%
Isle of Palms42$856,000$7,6180.9%
Wildwood2$155,000$1,0750.7%
Pierpont4$308,788$1,7170.6%
Folly Beach10$942,500$5,9580.6%
Seabrook Island33$719,000$4,2080.6%
Sullivan's Island3$1,900,000$11,9460.6%
Capri Isles2$582,500$2,6880.5%
Ravenel4$254,500$1,2650.5%
Awendaw2$275,000$1,4610.5%
Melrose3$360,000$1,6350.5%
Long Branch Estates2$391,500$1,5430.4%
Mount Pleasant350$600,000$2,2420.4%
North Charleston308$255,000$1,1400.4%
Charleston622$467,500$2,0270.4%
Hollywood17$439,000$1,6460.4%
Meggett3$650,000$2,3370.4%
Forest Lakes6$448,000$1,8260.4%
Fenwick Hills3$296,000$1,2660.4%
Drayton7$440,000$1,9260.4%
Whitehall Terrace2$515,750$1,9160.4%
Ashley Forest8$680,000$2,5560.4%
Summerville14$345,300$1,2420.4%
McClellanville3$327,000$1,1670.4%
James Island56$503,750$1,6250.3%
Adams Run5$400,000$1,0920.3%
Secessionville Acres3$550,000$1,7510.3%
Cedar Springs2$467,500$1,3210.3%
Ladson16$245,000$7400.3%
Ponderosa2$391,500$1,2260.3%
Laurel Park2$617,500$2,0310.3%
Green Acres2$602,500$2,0630.3%
Castlewood2$380,500$9460.2%
Edisto Island9$899,000$2,1060.2%

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