Property Tax Records in South Carolina

Property taxes in South Carolina are administered by local governments to anyone who owns property. If you purchase a single-family home or rental property in South Carolina, you'll receive an annual tax bill that you'll need to pay by the due date to avoid extra fees and interest. The average property tax rate in South Carolina is just 0.52%, which is among the lowest in the country. There isn't a single county in South Carolina with tax rates that exceed 1%.

When you purchase a South Carolina property, you'll receive a tax notice at the beginning of October. This notice details your full payment and when it's due. If your property taxes have been collected with your monthly mortgage payments, you shouldn't have a problem paying these taxes on time. Your payment will be due by January 15.

Property taxes can only be calculated once your home's market value and assessment value have been identified. Assessors must perform these appraisals at least once every five years. Once your home's assessed value is understood, your county will be able to calculate your taxes and send you the bill. You may be able to reduce the annual taxes you owe by claiming a tax exemption.

South Carolina has levied property taxes since they received statehood in 1788. During the early years of the state, properties were taxed by the acre. Even if the property was in poor condition, its taxes were based on a fixed rate. The most notable changes to South Carolina property taxes occurred in 2006. Once this law was passed, primary residences became exempt from taxes for school operating costs. A revalue limit of 15% was placed on property taxes in the same bill.

If you own a home in South Carolina, your property taxes will be determined by the assessor in your county. Property taxes are based on your local tax rate and the assessed value of your home. The assessed value is a percentage of your property's market value, which is the amount that it can be sold for today. The South Carolina property tax assessment ratio for primary residences is 4%. Investors who purchase rental real estate will have a 6% assessment ratio.

Local assessors are tasked with revaluing all properties within their jurisdiction every five years. The appraisal that an assessor performs is designed to identify a property's full market value. The assessment ratio is then applied to this value. Keep in mind that increases in market value are limited to 15%. The cap will be lifted when a property is transferred, or renovations are made to a home.

To estimate your annual property taxes, let's say that your home has a market value of $200,000. When revalued, it could increase to $230,000, which matches the 15% limit. If you apply the 4% assessment ratio to the $230,000 value, your home's assessed value would be $9,200. The tax rates in your county will then be applied to this value.

Local tax authorities determine tax rates for the year. They divide the revenue their budget calls for by the assessed value for the entire tax jurisdiction. Like most states, South Carolina tax rates are displayed in mills. One mill equals $1 in tax for every $1,000 in assessed value. The mill rate in South Carolina ranges from 250 to 400 mills.

Let's say that your tax district has a mill rate of 300. This rate would be applied to your home's $9,200 assessed value. When performing this calculation, your annual property taxes will amount to $2,760. You can also look at your county's effective tax rate. If you live in Laurens County, the effective tax rate is around 0.55%. This rate must be applied to the total market value of your home, which is $230,000. In this situation, your annual property taxes will be $1,265. The tax rates for the most populous South Carolina counties are:

Surprisingly, Greenville County property taxes aren't the highest in the state, even though it's the most populated county and home to Greenville. On the other hand, Charleston County property taxes are much lower than average, and considering it's home to Charleston and other coastal towns, that means that homebuyers in South Carolina have something to consider when looking for a place.

Every county has some control over how they distribute the revenues that they collect from property taxes. However, around 65% of property taxes are used by counties to pay for public education. The remaining funds pay for public libraries, fire departments, police departments, and other services that residents have access to.

If you are about to buy a property in South Carolina but want to do some more research, consider obtaining tax records for the home. Counties throughout South Carolina provide the public with tax record databases that make it easy to search for these documents with an address or parcel ID. Some counties provide maps that allow you to locate the property and bring up its records without needing to enter additional information.

Once you gain access to a home's tax records, you can learn a lot about the property. For example, these documents may contain recent photos and sketches of the property. You can also find out if any renovations or improvements have been made to the home in recent years. The types of information that these records provide include the following:

South Carolina provides property owners with numerous tax exemptions and deductions. If you qualify for any South Carolina property tax exemptions, you can effectively reduce your home's assessed value. The main tax break that real estate owners have access to is the homestead exemption, which is detailed below.

Homestead Exemption: The Homestead Exemption is the most comprehensive tax break available to property owners in South Carolina. It excludes the initial $50,000 of your home's market value from being taxed. You can claim the Homestead Exemption if you're at least 65 years old.

The exemption is also available to individuals who are permanently disabled or legally blind. Keep in mind that you'll need to be a legal resident of the state for one year or more to qualify. This exemption was expanded to include veterans in 2022.

Property owners have several sources they can access to search for up-to-date property tax records. These sources include county assessor websites and third-party providers like PropertyChecker. Your county assessor's website should have all the records you need. However, not all of these online databases are the same.

The property research tool that Spartanburg County offers allows users to search for tax records with parameters like:

If you decide to use a tool like PropertyChecker, you can look up property tax records with the address, owner name, or Parcel ID. You'll receive comprehensive information about:

Homeowners in South Carolina don't typically pay high property taxes. However, it's still highly recommended that you look for increases to your taxes that don't make sense. If your bill is 20% higher than it was the previous year, there's a good chance that the assessor has made a mistake that should be remedied.

The South Carolina appeals process for property taxes is a lengthy one with several opportunities to appeal. Even if your first South Carolina property tax appeal isn't granted, you may win the next one. This process begins when you file an appeal with your county assessor.

Step 1: After you receive a Notice of Assessment from your county assessor, you have 90 days to file an appeal. The application must include a detailed description of why you believe the assessment value is incorrect.

If you obtain a valuation from a third-party appraiser, include their data within the appeal. This is an informal appeal, during which the assessor may agree with your findings and change your home's assessed value.

Step 2: If the assessor doesn't alter their initial decision, they may schedule a conference meeting, which is a more formal process. This meeting should be arranged within 30 days of the initial review. If you don't show up to the hearing, the matter will be closed.

Step 3: If you're still not satisfied, you'll have 30 days to file another appeal with the County Board of Assessment Appeals. Once the Board receives the appeal, a hearing will be held within 30 days. You'll need to present all the evidence you've gathered at this hearing. Once the conference has been concluded, the Board will send a written decision through the mail within 15 days.

Step 4: The next step you can take involves appealing the Board's final decision with the Administrative Law Court. Their decision can also be appealed to the Circuit Court or the South Carolina Supreme Court.

While South Carolina property taxes are lower than most states in the country, they can still impact real estate transactions for buyers, sellers, and investors. When a buyer is considering making an offer on a home, they may first research the property to learn more about it and estimate the annual taxes that come with owning it. If the taxes are high enough to add several hundred dollars to the buyer's monthly mortgage payments, they may choose to look at a more affordable property.

When selling a home in South Carolina, incentives may be necessary to obtain offers and ensure buyers get through the transaction without backing out. A buyer may request that the seller reduce their asking price or make additional repairs to effectively cover the ongoing costs of property taxes.

These taxes aren't just relevant for traditional real estate transactions. When an investor is thinking of adding another property to their portfolio, they'll need to estimate property taxes to ensure they can earn more from rent dues than they pay each month.

Investors in South Carolina can also acquire real estate by taking part in tax sales. Property tax bills are due by January 15. If a homeowner doesn't pay their bills in full by March 15, the taxes will be considered delinquent. The debt will then be sent to the Delinquent Tax Division to be collected.

In some states, tax liens are placed on delinquent properties. Investors can purchase these liens from counties, after which they can collect the unpaid debt as well as any interest that accumulates. In most cases, the homeowner will have three years to repay their taxes before the property is foreclosed on. However, this isn't the case in South Carolina.

Once a property becomes delinquent in South Carolina, the county in which it is situated can sell it at a tax sale. The date of a tax sale can vary by county. However, it usually takes place in the fall or winter season. Investors can bid on delinquent properties. The winning bidder will receive a sale receipt, which means that they effectively have partial ownership of the home. The homeowner will still have another year to repay their unpaid taxes and take back ownership of their property.