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Charleston Reporter

Friday, November 22, 2024

Analysis: Charleston County effective property tax rates were lower than the national average in Q1

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Property owners in Charleston County paid 0.5% of the value of their homes in property taxes in the first quarter of 2024, 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 first quarter of 2024 was $454,900, based on data from the 1,111 properties sold during that time. In 2024, the median tax bill for the county was $2,030, which is 0.5% 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 Isle of Palms paid the highest rates.

The above article calculates the effective property tax rate for 2024 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 first quarter of 2024.

CityQ1 2024 SalesQ1 2024 Median PriceMedian tax 2024Effective tax rate
Kiawah Island18$967,500$11,0521.1%
Isle of Palms23$1,050,000$7,8850.8%
Folly Beach8$1,025,000$6,1670.6%
Seabrook Island29$680,000$4,3550.6%
Lincolnville4$177,000$9770.6%
North Charleston232$260,000$1,1800.5%
North Pine Point2$397,500$1,8970.5%
Mount Pleasant252$650,000$2,3210.4%
Charleston416$467,000$2,0980.4%
Hollywood8$382,875$1,7030.4%
Meggett2$560,000$2,4190.4%
Ravenel3$320,000$1,3090.4%
Adams Run2$295,000$1,1300.4%
Edisto Island4$512,500$2,1800.4%
Springfield3$425,000$1,6260.4%
Drayton4$539,375$1,9930.4%
Summerville7$308,000$1,2860.4%
Riverland Terrace5$580,000$2,3800.4%
Melrose3$390,000$1,6920.4%
Chesterfield3$455,000$2,0310.4%
James Island29$500,000$1,6820.3%
Cedar Springs3$499,900$1,3680.3%
Fenwick Hills2$510,000$1,3110.3%
Ladson9$268,000$7660.3%
Ponderosa2$380,000$1,2690.3%
Awendaw4$797,500$1,5120.2%
McClellanville13$517,500$1,2080.2%

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