Florida vs South Carolina
South Carolina
Property‑Tax Comparison: Florida vs. South Carolina (2023 ACS)
Intro
Both Florida and South Carolina levy property taxes that are funded primarily at the local level. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), the two states differ in effective tax rates, median home values, and the amount of tax paid on typical residential properties. The following side‑by‑side table summarizes the key metrics.
| Metric | Florida | South Carolina |
|---|---|---|
| Effective property‑tax rate | 0.79 %【1】 | 0.51 %【1】 |
| Median home value | $325,000【1】 | $236,700【1】 |
| Median annual property tax | $2,555【1】 | $1,199【1】 |
| Property tax on a $250,000 home | $1,966【1】 | $1,266【1】 |
| Property tax on a $500,000 home | $3,931【1】 | $2,532【1】 |
| Median household income | $71,711【1】 | $66,818【1】 |
Source: According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).
Which State “Wins” on Property Tax?
Based on the effective property‑tax rate, South Carolina has the lower rate at 0.51 % versus Florida’s 0.79 %. The rate difference of 0.28 percentage points represents a 35.58 % lower tax burden in South Carolina.
- On a $250,000 home, the annual tax gap is approximately $700 (South Carolina $1,266 vs. Florida $1,966).
- On a $500,000 home, the annual tax gap widens to about $1,399 (South Carolina $2,532 vs. Florida $3,931).
Because the tax rate is the primary driver of these differences, South Carolina can be considered the “winner” in a direct property‑tax comparison.
Who Might Benefit Most from This Comparison?
| Audience | Relevance |
|---|---|
| Current homeowners considering a move or refinance | Understanding how property‑tax obligations would change with a relocation. |
| Prospective homebuyers evaluating affordability | The tax component can materially affect total housing costs, especially for higher‑priced homes. |
| Retirees seeking low‑tax jurisdictions | Lower property taxes can reduce fixed‑income expenses. |
| Real‑estate investors comparing cash‑flow scenarios | Property‑tax rates influence net operating income and return calculations. |
The data are purely descriptive; individual circumstances (e.g., local exemptions, homestead credits, and specific county rates) can alter the actual tax bill.
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References
- U.S. Census Bureau, American Community Survey 2023 5‑year estimates, tables on housing characteristics and tax data.
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Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.