Charleston County home, vehicle taxes drop under budget proposal
Charleston County residents would have a decrease in property taxes on their vehicles and the homes in which they live, under a budget plan that received initial approval Tuesday from County Council.
But commercial property owners face a slight tax increase after the first of councilís three required budget approvals.
The countyís proposed general fund for fiscal year 2013, which begins on July 1, is $184.7 million. Thatís up about $11.6 million from $173.1 million in the current fiscal yearís operating budget, an increase of about 7 percent. County Council must review and approve the budget on June 12 and 19 before it becomes final.
Keith Bustraan, the countyís deputy administrator for finance, said the proposed 2013 budget is based on a 2 percent increase in the tax rate. But that rate increase would not increase property taxes on owner-occupied homes and vehicles because it is more than offset by money brought in through the local-option sales tax.
For instance, Bustraan said, taxes on an owner-occupied home valued at $100,000 would decrease $4.80 a year. And an owner of a $20,000 vehicle would see a 64-cent drop in the county portion of his or her taxes.
Commercial property owners, however, would face a 40-cent increase on a $100,000 property, he said.
Reach Diane Knich at 937-5491 or on Twitter @dianeknich.