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Death & Taxes - Let’s just talk taxes in the Lowcountry

July 3rd, 2007 by George

Let me start off by saying… I am not tax expert. I know I pay them, I get good services because I pay them, and they are inevitable. Here is a little information regarding what you can expect.

Once a year, it comes in the mail. The value of your property is X, you owe Y.

Tax Bill

Click here to check out the details of the sample tax bill.

Taxes on your home depend on the value of your home, for example:

Information provided by the
Charleston County Auditor’s Office

Sample 2006 tax bill for the owner of a $100,000 owner-occupied home located in the City
of Charleston:

$100,000.00
x .04
$ 4,000.00
 x .2366
$ 946.40 		Appraised Value
Assessment Ratio (Owner-Occupied Residence)Total Assessment

Total Property Tax
-94.00
-90.00
-291.60
 $ 470.80 		Chas. County Tax
Credit x Appraised Value (.00094 x 100,000)
 City of Chas. Tax Credit x Appraised Value (.00090 x 100,000)State Property Tax Relief *Tax Due
+89.00 Solid Waste Recycling and Disposal Fee
$ 559.80 Total Amount Due

*Homeowners receive Property Tax Relief on up to $100,000 of the appraised value ($4,000
assessed value) of their legal residence .

Example:

$4,000.00x .0729
$ 291.60 		Assessed ValuePortion of School Operating Mills Subject to Tax Relief Property Tax Relief

 

If you are a Charleston county resident, you can get a 4% assessment rate, versus the normal 6%, if you meet certain conditions. The form can be picked up at your local DMV. More information regarding the special rate can be found here.

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