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Charleston Reporter

Wednesday, November 27, 2024

Effective property tax rate in Charleston County were lower than the national average in Q3 2023

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Property owners in Charleston County paid 0.4% of the value of their homes in property taxes in the third 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 third quarter of 2023 was $445,000, based on data from the 1,283 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 and Folly Beach 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 third quarter of 2023.

CityQ3 2023 SalesQ3 2023 Median PriceMedian tax 2023Effective tax rate
Kiawah Island27$674,000$10,6781.6%
Folly Beach9$620,000$5,9581%
Seabrook Island33$609,000$4,2080.7%
Isle of Palms18$1,125,000$7,6180.7%
Charleston488$449,875$2,0270.5%
Capri Isles2$535,000$2,6880.5%
Fenwick Hills2$232,500$1,2660.5%
Mount Pleasant266$637,700$2,2420.4%
North Charleston263$260,000$1,1400.4%
Edisto Island6$589,000$2,1060.4%
Plantation Estates3$332,500$1,4010.4%
Springfield3$380,000$1,5710.4%
Drayton3$460,000$1,9260.4%
Summerville13$335,500$1,2420.4%
Wildwood2$242,500$1,0750.4%
Melrose3$415,000$1,6350.4%
Hollywood10$493,000$1,6460.3%
James Island53$549,773$1,6250.3%
Meggett2$751,385$2,3370.3%
Ravenel8$462,500$1,2650.3%
Adams Run8$362,500$1,0920.3%
Church Creek4$432,250$1,4330.3%
Cedar Springs3$521,400$1,3210.3%
Awendaw5$535,000$1,4610.3%
Ashley Forest3$900,000$2,5560.3%
Ladson15$242,000$7400.3%
McClellanville7$670,000$1,1670.2%

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