Fripp Ownership Costs

Fripp Island Property Ownership Costs

Estimated Utilities: (for an average 3-bedroom home – full time residents)

Electric	$180.00 per mo.
Water & Sewer	$75.00 per mo.
Telephone	$35.00 per mo.
Cable TV (basic)	$45.00 per mo.
Trash Pick-Up	$35.00 per mo.

Fripp Island Property Owners Association Fee For 2011: $840.00

This annual per property fee represents maintenance and landscaping of the Island common areas, lagoons, roadways, beach access walkways, security operations, fire department, EMT services, POA personnel /buildings, and a special Fripp Island Bridge assessment fee of $100.

NOTE: some subdivisions have additional fees for common area maintenance.

2010 Estimated Property Taxes: (Remember that property taxes are paid in arrears!)

Property Tax $1,835.40 per $500,000 home (or $5,460.90 for non-residents)

The county assessor places an appraised value on your real estate (based on comparable sales, condition of property, etc.). This appraised value is multiplied by 4% for residents or 6% for non-residents, land only and commercial/rental property to obtain the assessed value. The assessed value is then multiplied by the millage rate (**currently 0.182.03 @ 6% & 0.9177 @ 4%) for Fripp Island.

Notes: **Point of sale valuations are now used to value residential and commercial properties. Also, permanent residents do not pay the school operating millage fees, but they do pay an extra sales tax as well as personal property taxes.

2011 Estimated Insurance Costs:

Fripp Island is a barrier island. Homeowners may be required to carry Flood and Wind & Hail Insurance in addition to Homeowners Insurance.

Hazard/Wind & Hail - $1,300 per $100,000 of structural value

Flood - $225 per $100,000 of structure value

Variables include the age, size, use (rental vs. personal use) and location of the house in relationship to the beach.

Fripp Club Fees & Dues:

Initiation: $20,000

Dues: see dues schedule

Fripp Marina Costs:

Do you have a boat? Want to store it or dock it? Fripp Marina Fee Schedule