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South Carolina Property Taxes: What to Know Before Moving

Posted 10/16/2020

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So you have finally found the coastal retreat of your dreams right here on Seabrook Island, SC. Just minutes from the romantic, historic city of Charleston, SC, Seabrook is a gated, oceanfront community with endless amenities and experiences for you and your loved ones to enjoy. Before signing the dotted line, you might be wondering what the property taxes on your new home would be. Our team of experienced realtors can help guide you through everything you need to know about our Palmetto state property taxes before investing in Seabrook Island real estate.

Property Taxes on Real Estate Near Charleston, SC

Home is where the heart is, and we are ecstatic that you want to make Seabrook Island apart of yours. Not only is our serene barrier island in one of the most beautiful states in the South, but it’s also one of the most affordable places to purchase real estate in terms of property taxes. South Carolina is ranked as the 6th state for most affordable property taxes in the country. Even in our gorgeous oceanfront community, you will be paying some of the lowest tax rates in the nation.

If you plan to make Seabrook Island your primary residence, or at least occupy the home for most of the calendar year, you are exempt from school taxes. This is especially helpful, as school taxes contribute a large portion of your overall property taxes. It’’s also important to know that the state government has made efforts to ensure homeowners like yourself do not bear the brunt of funding state projects through property taxes.”

What Is the South Carolina Property Tax Rate?

In South Carolina, the property tax rate ranges from just under .4 percent to slightly higher than .8 percent. While this range seems daunting, it’s simply because every county collects taxes separately and each has unique determinations. Seabrook Island, located in Charleston County, lies on the lower end of the South Carolina property tax scale.

It’s essential to determine your tax rate rather than referring to the previous owners’, as the program can cap property tax rates. However, when ownership of the property changes hands, this cap is reversed; hence your rate could be higher.

To determine the exact rate you will be paying, you first need to determine the value of your Seabrook Island real estate. If you are unsure of the exact worth, you can find this information by contacting the Charleston Country tax assessor’s office. Additionally, Seabrook Island homeowners’ tax rate is published on the South Carolina Association of Counties website.
You can calculate your taxes by taking this number and multiplying it by the value of your home or by using an automated tool like SmartAsset.

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Are Charleston County Property Taxes Increasing?

A common concern among home buyers is rising property taxes, whether it be a result of increased home value or an increase within the county. In South Carolina, however, homeowners are protected from large increases in their taxes after home reassessments under Act 388, an amendment to SC property tax law created in 2007. In essence, our state property owners can’t be “taxed-out” of their homes, making owning oceanfront real estate near Charleston, SC much more affordable.

Navigating the world of property tax can be overwhelming, but with sufficient resources and your local Seabrook Island Real Estate agents to help guide you through the purchase process, you don’t have to worry. If you are ready to make your move to the beaches of Seabrook Island, South Carolina, contact one of our realtors today to find the perfect property for you. In the meantime, come enjoy all Seabrook Island offers with a safe and socially-distant visit to our community.