Charleston, SC Metro Frequently Asked Questions (FAQ)

What is Sales Tax Rate in Charleston?

South Carolina Sales and Use tax rate is 5%. Certain counties also have an additional tax for certain things such as transportation and capital projects. For additional information, please visit the South Carolina Tax website.

What is the Real Property tax Rate for a principle residence?

Taxes vary by county in the areas surrounding Charleston and taxes by city vary in the areas surrounding Charleston.

Tax in the City of Charleston and Charleston County runs a little less than 0.5% of the appraised value of the residence. For a detailed calculation of the tax rate.

What are taxes on personal property such as cars and boats?

Personal property tax is collected annually on cars, trucks, motorcycles, recreational vehicles, boats and airplanes. Personal cars and light trucks are assessed at 6.75 percent of market value. If you own a $30,000 car today, for example, based on an average millage rate, your annual property tax would be about $774.52. The registration fee for passenger cars is $24 every two years ($20 for residents age 65 or older; $22 for 64-year-olds) and can be paid when you pay your county property tax. Other personal property such as boats and RVs are assessed at 10.5 percent.

What are Income Taxes in SC?

South Carolina’s income tax structure follows federal income tax laws with only a few modifications. South Carolina’s individual income tax rate starts at 2.5 percent of taxable income, graduating to a maximum of 7 percent on taxable income exceeding $12,650.

Does South Carolina have an estate or gift tax?

South Carolina does not impose either an estate tax or a gift tax.

What does Home Insurance run in the Charleston area?

Home insurance varies greatly in the Charleston metro depending on the location of the home, size, proximity to water, and many other factors. Be sure to carry earthquake insurance. Though it has been many years since an earthquake of significance, the area does lie over a fault. You may also be required to carry flood insurance. If not required, some protection may still be recommended due to the low-lying topography.

What is the flood insurance rate and who needs to have it?

Most homes in the are carry some type of flood insurance due to it's low elevation, though the amount of coverage required/suggested depends on the proximity to water. Please check the FEMA website for your local flood map, and contact your insurance provider for a quote. This rate is constant among all insurance providers since it is offered directly through a government agency.

Where is the nearest Airport and what Airlines operate out of it?

The Charleston International Airport is located just off Interstate 526 at 5500 International Blvd. The airport code is CHS. Several airlines operate out of the airport to include (Oct 2006): Continental, Delta, Northwest, US Airways, United Express and American Airlines - Eagle. For more information, visit the Charleston International Airport website.

What Private Schools are available?

Please visit our school choices page.

How does Charleston, SC compare to my current town of residence?

Monstermoving.com has a helpful resource which allows you to compare statistics of many cities and towns.

What are the main steps to a closing?

Appraisal
Loan Approval
Termite Inspection
Home Inspection (Strongly Recommended)
Attorney