South Carolina Property Tax Rates

Brandon Hoffman of The Hoffman Group give a quick explanation of the different property tax rates in South Carolina. The 3 rates are non-owner occupant @ 6% which is actually about 4 times higher than the 4% owner occupant rate, and homestead exemption if at least one occupant owner is 65+ which provides an additional discount.

You can apply at the county tax assessors office. Make sure you apply for the lowest rate your eligible for, because otherwise SC will bill you the highest non-owner occupant rate! Most require at least a utility to show you live there and a drivers license with the home address for the discount, but before you go down to apply you should check with the county to see what you need to bring. Some counties will allow you to apply via mail. FYI-some counties will ask for tax returns and other unnecessary info. I would advise you to refuse those if possible. Besides, if you just bought the house it won't be reflected on tax returns anyway!

Taxes are not prorated if rates change over the course of the year. Whatever the use is at the time the tax bill is issued is what they are for the entire for year. Example - you are looking online at properties and see one with high non-owner occupant taxes. You buy it and are approved for the owner occupant tax rate. Taxes are prorated by the attorney at closing and you as the new owner get an owner occupant tax rate for the whole year once. Same for new construction - typically taxes are only for the lot the first year!

If you have questions about your taxes, or think they seem too high and you just bought your home, then they probably are! If you forgot to apply or the county made a mistake on taxes, your escrow account will be short, and your mortgage will raise your monthly payment to make up for the escrow shortage. Once you get your taxes corrected, the mortgagor can adjust your payment back to where it should be as they receive the rebate back.

Selling or buying - call me! Additional questions - I'm here to help. Brandon Hoffman, owner @ The Hoffman Group at Keller Williams Columbia. 803-528-3336 / hoffmangrouprealty@gmail.com / www.803HomeSales.com

Видео South Carolina Property Tax Rates канала The Hoffman Group Realty