Everything You Need To Know About Charleston County Property Tax In 2023
What is Charleston County Property Tax?
Property tax is a tax on real estate property that is assessed by the local government. In Charleston County, property tax is assessed by the Charleston County Assessor of Property and collected by the Charleston County Tax Collector. Property tax is generally calculated by multiplying the assessed value of the property with the applicable tax rate. It is used to fund local services such as schools, police, and fire protection.
What is the Tax Rate for Charleston County?
The tax rate for Charleston County is based on the assessed value of the property. The tax rate for residential properties is 8.25 mills, which is 8.25 cents for every $100 of assessed value. The tax rate for commercial properties is 10.25 mills, which is 10.25 cents for every $100 of assessed value.
What is the Assessed Value of My Property?
The assessed value of your property is determined by the Charleston County Assessor of Property. They assess the value of all properties in the county and use this information to determine the tax rate. The assessed value of a property is typically determined by comparing it to similar properties in the area.
How is My Property Tax Calculated?
Your property tax is calculated by multiplying the assessed value of your property with the applicable tax rate. For example, if the assessed value of your property is $100,000 and the tax rate is 8.25 mills, then the property tax would be $8,250. The tax rate for commercial properties is 10.25 mills, so the property tax for a commercial property with an assessed value of $100,000 would be $10,250.
When is Property Tax Due in Charleston County?
Property tax in Charleston County is due on the 1st of July each year. If you fail to pay your property tax on time, you may be subject to a late fee. You can pay your property tax online or by mail.
What is the Homestead Exemption?
The homestead exemption is a form of property tax relief available to eligible homeowners in Charleston County. The homestead exemption reduces the assessed value of a property, which in turn reduces the amount of property tax due. To be eligible for the homestead exemption, you must own and occupy the property as your primary residence on January 1 of the tax year.
What is Charleston County Tax Relief?
Charleston County offers a variety of tax relief programs for eligible homeowners. These programs provide property tax relief in the form of credits, refunds, and discounts. To be eligible for tax relief, you must meet certain income and property requirements. You can learn more about the various tax relief programs available in Charleston County on the Charleston County Tax Collector's website.
What is the Charleston County Land Bank Program?
The Charleston County Land Bank Program is a program designed to help eligible homeowners reduce their property taxes. The program allows homeowners to transfer the ownership of their property to the Charleston County Land Bank Authority. The Authority then takes ownership of the property and pays the property taxes on behalf of the homeowner. This program is available to eligible homeowners who are at least 65 years old, disabled, or facing financial hardship.
How Can I Appeal My Property Tax Assessment?
If you believe that the assessed value of your property is incorrect, you can file an appeal with the Charleston County Assessor of Property. You must submit your appeal in writing and include the reasons why you believe the assessment is incorrect. The Assessor will review your appeal and may adjust the assessed value of your property if they agree with your arguments.
Conclusion
Property tax is an important source of revenue for Charleston County, and it is important for homeowners to understand how it works and how they can reduce their tax burden. If you have any questions or concerns about your property tax, you should contact the Charleston County Tax Collector's office for more information.