[coming soon] Charleston property tax bills
It's that time of year again and a reminder that your Charleston property tax bills will be coming soon to a mailbox near you. And if your home is your primary residence, it's important to make sure you are being taxed at the correct ratio.
Even though many of you do not pay your property taxes directly because your mortgage company pays from your escrow account, you will still get a copy of your property tax bill mailed to you.
Property taxes in South Carolina are quite reasonable compared to many other states (several of my clients from New Jersey have told me that they pay over $1000 per month in taxes and yes, you read that right, per month).
If your home in South Carolina is your primary residence, your property tax should be assessed at the 4 percent ratio rather than the 6 percent ratio. Additionally, if you happen to be over 65 years of age, you also qualify for a homestead exemption on the first $50,000 of assessed value. Take a look at the ratio box to make sure it says 4 percent if your home is your primary residence and if it doesn't, it's not too late to get it corrected by going over to the courthouse in either Charleston, Berkeley or Dorchester County and filling out the appropriate paperwork.
By the way, homes are taxed at the end of the year based on their value on January 1st so if you purchased new construction, you might not pay property tax on your home this year but only pay tax on the value of the lot.