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Are property taxes really this low in South Carolina?

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Are property taxes really this low in South Carolina?

Old 02-23-2021, 08:46 AM
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Default Are property taxes really this low in South Carolina?

https://www.zillow.com/homes/201-Lon...42980443_zpid/

Let's say it's a $750K house (Just sold for $845K). Property tax is really $1252? If so, then wow.



Last edited by Onewolf; 02-23-2021 at 08:56 AM.
Old 02-23-2021, 08:59 AM
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Something seems off there. Primary residence rates are pretty cheap. Other stuff, cars, boats, outboards, secondary residences, etc. are not.

For reference my home (250 - 275K value) taxes are similar. Somewhat looks like new construction, which could be reflective of an empty lot.
Old 02-23-2021, 09:12 AM
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Originally Posted by autobaun70 View Post
Something seems off there. Primary residence rates are pretty cheap. Other stuff, cars, boats, outboards, secondary residences, etc. are not.

For reference my home (250 - 275K value) taxes are similar. Somewhat looks like new construction, which could be reflective of an empty lot.
For a fame of reference, our rates up here vary but are in the 1.5% fmv range. That’s 3x or so the rate you have and more. Also willing to bet that your home may very well be $500k or more up here talk about a double fu.
Old 02-23-2021, 09:15 AM
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That looks like a new house. Taxes from zillow may have been from the lot, no house.
Old 02-23-2021, 09:22 AM
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Agree that was last years taxes and also property taxes are set by each county. You should be able to get the millage rate from the county web-site.
Old 02-23-2021, 09:30 AM
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Looks like it's the upstate/foothills of SC. If it's owner occupied I'm guessing around $3k per year. Non-owner occupied prob $5k.
Old 02-23-2021, 09:50 AM
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Originally Posted by beaufort boy View Post
Looks like it's the upstate/foothills of SC. If it's owner occupied I'm guessing around $3k per year. Non-owner occupied prob $5k.
Even that is cheap! That would be over $11k in my county, and close to double that in some counties in my state.
Old 02-23-2021, 09:57 AM
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Originally Posted by beaufort boy View Post
Looks like it's the upstate/foothills of SC. If it's owner occupied I'm guessing around $3k per year. Non-owner occupied prob $5k.
Pretty spot on. Have a friend who’s house appraised close to this one and his were 2850 for owner occupied. About double that for non-owner occupied
Old 02-23-2021, 10:06 AM
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Originally Posted by SouthpawHD View Post
Even that is cheap! That would be over $11k in my county, and close to double that in some counties in my state.
I just glanced at a $750k house near me. $17-18,000 tax bill. If they were in the village portion of town add another couple grand on to that.
Old 02-23-2021, 10:13 AM
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I looked at the Pickens County assessor site. Their taxes are that low.


Old 02-23-2021, 10:13 AM
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Originally Posted by BACKTOTHESEA View Post
For a fame of reference, our rates up here vary but are in the 1.5% fmv range. That’s 3x or so the rate you have and more. Also willing to bet that your home may very well be $500k or more up here talk about a double fu.
Our taxes are convoluted as hell. 4% tax rate (primary residence rate) is in most cases about 1/2 (sometimes less) than the 6% non-owner occupied rate. Also we have valuation locks that protect current owners (primary only).

For instance we bought at 160K in 2009. Value has risen a legit 100K since then, but taxes have not. Assessment value increases on primary residences are limited to 3% per year, or 15% every 5 years. My neighbors directly behind me bought in late 2019. Similar size/value house, and theirs are significantly higher, as their lock in price is their purchase price. Our increases over time will be at a similar percentage, but the only thing that will increase my basis over time beyond the 15% 5 year cap is to sell and buy something different.

This gives a breakdown county by county. Varies A LOT county by county. Some of the smaller counties with small tax bases are straight up nuts, especially when you factor in vehicles and toys (boats, RV's, etc.)

https://www.sccounties.org/sites/def...nty_2020_0.pdf

Old 02-23-2021, 10:22 AM
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We are just wrapping up a project for a client in NY. Property tax of $94k/year. I can't even imagine. Regardless of what you own, a residential tax bill like that is fu****!
Old 02-23-2021, 10:24 AM
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Originally Posted by STIPulation View Post
I looked at the Pickens County assessor site. Their taxes are that low.

That school tax credit line is strictly for primary residences. For a secondary residence it would go away, and the taxable amount would jump to $45K on top of losing that discount.

Asinine part of that is, owners of secondary homes (don't use the school system typically) and residential renters (disproportionately lower income, and roughly 1/3 of SC residents) end up footing the bulk of the tax property taxes that goes to funding SC schools.
Old 02-23-2021, 11:07 AM
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According to Zillow the house was built in 2009 so if that is correct the current property tax is not just on the lot.

I know the guy that bought the house and I was thinking that it's a lot of house (6900 sq ft) for two people to retire into. I'll ask him if they are planning to relocate from Florida sooner or later.
Old 02-23-2021, 11:17 AM
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Low taxes on that one but too far away from the salt water for me.
Old 02-23-2021, 11:19 AM
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Originally Posted by Basketcase View Post
We are just wrapping up a project for a client in NY. Property tax of $94k/year. I can't even imagine. Regardless of what you own, a residential tax bill like that is fu****!
Another house in my town currently for sale has a $50,000/year tax bill. This isn’t an expensive area of NY either. I imagine there are plenty of $100k+ tax bills in many areas. I get annoyed with paying $8000 on a house I paid $200k for.
Old 02-23-2021, 11:29 AM
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Originally Posted by IMPLiberty View Post
Another house in my town currently for sale has a $50,000/year tax bill. This isn’t an expensive area of NY either. I imagine there are plenty of $100k+ tax bills in many areas. I get annoyed with paying $8000 on a house I paid $200k for.
That's definitely a lot of $. What do other taxes look like, and what do they fund? SC is known for low taxes, but really when you look beyond primary residence taxes they are anything but. For instance buddy has a 2020 F250 diesel, $1200 just for that...and it's a work truck. That's at a 6% assessment. Boats/outboards/RV's are 10.5%. A couple of late model vehicles and a toy or two and you are stroking some checks pretty regular.

The two big things that I've always found to be conflicting in SC is that luxury items are relied on so heavily for school funding, and that residential rentals are taxes at an amount over and above owner occupied. Luxury item funding is dumb, because it is subject to economic shifts...the last thing you want backing school funding. Residential rentals being higher than owner occupied ends up with renters paying more in taxes (its just a pass through), which is yet another obstacle in home ownership.
Old 02-23-2021, 11:33 AM
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If they don't screw you on property taxes they screw you with other taxes and fees.
Old 02-23-2021, 11:38 AM
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Originally Posted by fishingfun View Post
If they don't screw you on property taxes they screw you with other taxes and fees.
6% on vehicles and 10% on boats/RVs annually seems pretty 'stiff'. Who decides the taxable value of these items?
Old 02-23-2021, 11:45 AM
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Originally Posted by Onewolf View Post
6% on vehicles and 10% on boats/RVs annually seems pretty 'stiff'. Who decides the taxable value of these items?
County by county. They do get fairly low as stuff ages, but will kick you in the nuts on newer stuff. For instance I have a 2005 suburban and its $47 a year on it, including the tag fee and a $25 county imposed motorist fee.

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