Taxes

County Taxes:

Daniel Island resides in Berkeley County. County taxes are dependent upon if the property will be used as your primary residence or a second home/vacation home. You are taxed accordingly.

Thus if the property will be your primary residence you will be taxed at four percent of the assessed value times the millage rate (which is set by local elected officials) in addition you will receive deductions such as school tax or homestead tax credits which lower the 4% assessed value dramatically.  If you will be using the property as a second home/vacation home or you are purchasing a vacant piece of land, you

will be taxed at 6% of the assessed value of the property and don’t receive the homestead exemption and other tax credits.

I highly recommend you check out the following Property Tax Card example and in addition, call the Berkeley County ‘s Assessors office prior to purchasing a property as tax laws are constantly changing. I encourage you to get a written estimate from the tax assessor prior to closing: 843-723-3800 extension 4061.

(Millage Rate*    x     Assessment Ratio **    x     Value***) – Tax Credits****

*set by local elected officials
**4% primary home; 6% rental, commercial, land, second home
***set by assessor and can be raised to the current sales price  (point of sale assessment) ****set by elected officials

 

Example of Berkeley ‘s County Property Tax ( Daniel Island resides in this county):  http://www.co.berkeley.sc.us/departments/auditor/tax_computation.php
South Carolina Income Taxes:

Individual Income Taxes:  http://www.sctax.org/default.htm

 

General Tax Guides:

South Carolina Department of Revenue’s General Tax Guide for New Residents:(PDF)

Retiree Tax Information:

If you are a retiree or will be retiring in the near future, please check out the following websites:

Social Security Retirement Planner: http://www.ssa.gov/retire2/near.htm
Please also visit my other website which is devoted to retirement in

the Charleston area and the benefits retirees receive: