Mt P and Cton real estate taxes, fees, etc (Charleston: HOA, insurance)

[lenniel]

Any realtors or RE lawyers here to answer a few questions?

What are the RE taxes in MP? Are they the same for the entire area or are they different in Cton?
Are there any other strange taxes/fees (transfer stamp, etc) that are added on at closing or assessed by the city/township/county?

As far as insurance, any idea what we can expect to pay for homeowners on an approx 3200 SqF SFH, no pool?

Sorry for the vagueness of my questions, just trying to get some numbers for analysis.

[southbel]

Originally Posted by lenniel

Any realtors or RE lawyers here to answer a few questions?

What are the RE taxes in MP? Are they the same for the entire area or are they different in Cton?
Are there any other strange taxes/fees (transfer stamp, etc) that are added on at closing or assessed by the city/township/county?

As far as insurance, any idea what we can expect to pay for homeowners on an approx 3200 SqF SFH, no pool?

Sorry for the vagueness of my questions, just trying to get some numbers for analysis.

Does Cton mean Charleston?

Taxes can depend upon the town. So yes, you will pay slightly different taxes depending upon which town you pick. Mt P taxes are surprisingly low considering the amenities and services the town offers. But your annual property taxes are all rolled into one bill so you won't get a separate bill or anything from the town. I would guess around $1-1.5K for a 3200 sf house.

As for insurance, that can vary pretty significantly depending upon your proximity to water. It will not be inexpensive and there are limited companies that write for Mt P. Expect a few thousand for insurance, as a ballpark figure.

[DJShymansky]

I can't quote insurance, but if you factor .7% of the purchase price as an annual tax bill, you'll likely be high for an estimate in Mt. Pleasant and your tax bill will come in under that annually, unless its an investment property and you get hit for 6% assessment rate. You can go to charlestoncounty.org and run through a breakdown of how they calculate taxes (they differ per area). Mt. Pleasant is .219 mils (might have gone down to .2178 actually).

Generally sellers pay deed stamps on the transfer, unless your contract indicates otherwise. You may have an HOA assessment/transfer fee or a neighborhood/management-specific fee due from all buyers at closing, depending on where you buy.