Property Tax Bills Are Here--And Property Taxes are Lower in the Town
The Charleston County consolidated property tax bills are arriving. When I came home from Town Hall, mine was waiting in my mailbox. How much did you save? To find last year's property tax you can search at the Charleston County website.
https://sc-charleston.publicaccessnow.com/Welcome.aspx
The Town has significantly increased the credit it provides which is shown as the municipal sales tax credit. The credit on your bill is equal to .02 x your assessment + .0007 x your appraisal. The assessment and appraisal are on the second line of the bill.
The first part is the local option sales tax credit that the Town has provided for the last 4 years. That part is used to reduce the Town property tax to zero. If you look at the top line of the itemized tax bill, the amount collected by the Town of James Island shown on the far right remains zero as always.
The second part of the credit is from the Cost Sharing Agreement approved by the majority of Town Council and the majority of James Island Public Service District Commissioners. This second part reduces the amount charged on the James Island PSD Operating line. The amount that would be paid without the credit is .0551 x your assessment. That is decreased by .0007 x the appraisal. The net amount charged is shown in the column on the far right.
The bottom line is that the Town has reduced your property tax bill by .0007 x the appraisal on your tax bill.
The tax credit reduces the amount homeowners in the Town pay the JIPSD by 27%. The Total Taxes at the bottom of bill is reduced for homeowners in the Town by 13.5%, which is also the reduction in Total Taxes from last year. The property tax bill also includes the County's $99 recycling free and the Town's $48 stormwater fee. These didn't change last year. When those fees are added to the property taxes, the dollar saving is the same, but the percent change depends on the value of the property being taxed.
Last year, Town homeowners paid slightly more property tax than those in the City of Charleston because of the 13% increase in the JIPSD property tax. This year, Town homeowners will pay 13.8% less in Total Tax than those in the City.
Owners of commercial and rental property along with boats and other personal properties can expect property tax saving as well, but the percent reduction will be smaller. Property tax savings on cars and other vehicles will start in January.
Mayor Bill Woolsey
