$12.75 property Tax Bill?
7 acres of a beachfront Kiawah property was sold this week for $22milion, going down in Charleston real estate history for one of the area's most expensive homesites. The property was under a agricultural tax assessment for years due to the amount of timber on the property. Taxes were reported to be a measly $12.75! With the current sale and plans to develop the land the new owners will be reassessed based on the value and include some back taxes based on that assessment.
To read more of the details on the story and the calculation of the future taxes CLICK HERE.
Can you imagine such a small tax bill? Your tax bill can be lower than expected sometimes, let us explain:
If you are a legal/primary resident of a home in Charleston County you should have applied for a property tax break. The 4% rate is for owner occupied residences, but you have to apply for it or will be charged 6% automatically -that can be a huge difference in your bank! Here are a few FAQ's about Charleston County property tax.
For our clients we make sure the application is in hand with a new purchase and go over all that is involved in the application process. If you have any questions please feel free to contact us anytime!