charleston County property taxes

Charleston, SC, offers homeowners some of the lowest property taxes in the United States. For owner-occupied primary residences, the tax assessment rate is a favorable 4%, while vacation homes, investment properties, and second homes are taxed at a higher rate of 6%, reflecting their different usage and economic impact.

Property taxes in Charleston are calculated based on the assessed value of the property, determined by local assessors every five years and capped at a 15% increase unless the property is transferred or significantly altered. The millage rate, expressed in mills, is crucial in this calculation, where one mill equals $1 of tax per $1,000 of assessed value. With the state's average total mill rate ranging between 300 and 350 mills, understanding how these rates apply to the assessed value helps homeowners estimate their annual tax obligations. For example, a primary residence assessed at $100,000 with a 4% assessment rate results in an assessed value of $4,000. Applying a millage rate of 325 mills would mean an annual tax payment of $1,300. This system of low property taxes and clear assessment rates makes Charleston an attractive location for both primary and secondary homeowners.